Including Timeshare

[rj17]

Hi, my wife and I are filing in July, we have paid the retainer and now are waiting to pay in full next month.

Our question is, we are joint owners of a timeshare with my wifes parents, all 4 of us are on the sale deed.

We would really like to not tell them we are filing, so we need to know if we can just overlook the timeshare when filing, or if we do list it, will my wifes parents get any notification of our filing. Since the timeshare has no value, its hard to list it as an asset, but we still do owe money on it, so just trying to figure out how to approach this.

Thanks in advance for your help.

[backtoschool]

The timeshare is both an asset and a it is debt that you owe, so you will have to list your share of it on your schedules.