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Co-Owned Timeshare in Chapter 7 Bankruptcy

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  • 09-26-2005, 02:18 PM
    AQUAEYES23
    Co-Owned Timeshare in Chapter 7 Bankruptcy
    I'm about the file chapter 7 before the new law goes into effect. I have a timeshare but I'm not sure how to handle it. I have a purchase agreement for it with a non filing person who was never my spouse. I don't want the timeshare. Can I surrender it? Or do I just surrender my portion under the filing and then they would go after the other party? I don't care about that, I just want to know how to handle it on my end! Thanks!
  • 09-26-2005, 03:01 PM
    Mr. Knowitall
    Timeshare
    Ordinarily you could surrender your interest in the timeshare. The bankruptcy trustee may well offer your partner the opportunity to purchase your interest. Beyond that, you haven't provided enough information to guess at the effects on the other person - this is something you can discuss with your bankruptcy lawyer.
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