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Where do you list timeshare?
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HOMEBODY
Senior Member
Bankruptcy Newbie
Joined:
Nov 2009
Posts:
178
State:
California
#1
Where do you list timeshare?
02-10-2010, 01:14 PM
Which schedule do you list timeshare in..is that a real estate asset or just secured loan?
Thanks
HHM
Senior Member
Bankruptcy Wizard
Joined:
Dec 2004
Posts:
14347
State:
Private
#2
02-10-2010, 01:22 PM
It is real property (as an asset) and a secured loan (assuming you still owe money).
The only time it would be something else is if the timeshare you have is a pure "vacation club" style timeshare.
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HOMEBODY
Senior Member
Bankruptcy Newbie
Joined:
Nov 2009
Posts:
178
State:
California
#3
02-10-2010, 01:26 PM
thanks
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justbroke
Super Moderator
Bankruptcy Wizard
Joined:
Jul 2008
Posts:
23314
State:
Florida
#4
02-10-2010, 06:45 PM
Some of those vacation timeshares can get tricky as some have a "real estate interest" in a particular unit, building, resort.
Chapter 7 (No Asset/Non-Consumer)
Filed (
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: (Auto) Discharged and Closed! 5/10
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Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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