I went into bankruptcy recently. I was amazed to find in this process that the one thing I could not surrender easily was my timeshare deed. I got a lot of push-back from the company, a lot of grief from timeshare forums and overall a super-size headache trying to shed something as simple as a vacation. How can bankruptcy help me get the deed out of my name?
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They should not be talking to you if you have filed your bk.
Was the timeshare listed in the bk petition? -
We are the opposite... hoping to keep ours. But if we can't, we can't. A couple of attorneys had told me the trustee doesn't usually get into timeshares too much because they are difficult to unload. If for some reason you cannot give it up in bankruptcy... maybe you can try selling it afterwards. Not sure about any income you generate though, if any, if it would have to be given back to the court?? Maybe others will know.Comment
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The problem is that i will have that expense still waiting for me when i come out of bk. The deed is permanent, but my question is does bankruptcy change the rules to where I can just shed that deed?Comment
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Did you use a lawyer?
Any financial obligation to the timeshare is discharged in bk.Comment
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You need to drop it at any cost if you no longer want it. There’s one firm I know of—Timeshare Relief—that you can hire to take the deed off your name. A lot of times bankruptcy lawyers are unsure how to deal with timeshares, they have a legal team that specializes in timeshare contracts. I went through them when I wanted to ditch one of my two timeshares. It was good to have their knowledge base in my corner.Comment
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