cival re: time share property

[curious216]

What is the name of your state? pennsylvania


Here is my trouble. I purchased a time share property in orlando, florida with a friend of mine about 4 years ago . to make a long story short my friend stopped making his share of the monthly payments so I also stopped. What recourse does the resort have against me?? and do I have recourse towards my friend for money that I have invested??? please help

 

[djohnson]

This is all going to depend on how you signed. If both of your signed jointly then you are both responsible. If he didn't pay it would not relieve your responsibility. After you paid you may have recourse against him for his half. If only one of you signed then that person would be the only one responsible and any verbal or written agreement you had between yourselves would have to be followed up on for the half that the responsible party had to pay. At no time would you be entitled to your investment back for what you already paid since you are now in default of the balance.

 

[curious216]

thank you djohnson for your reply... we signed at hte same time but since then I paid my half do I have recourse to sue him in small claims court for the money that I have paid in or can I get him to pay to pay for the remainder of his share for the property??? any help would be appreciated. what steps do I take should I hire a lawer??
??

 

[djohnson]

Both of you are 100% liable for the debt separately. See the thing is that any agreement you had with the financing company is separate from what you had with each other. To the finance company you are still responsible for all of the payments. Depending on your agreement with him, and what you have to prove it, you can sue him personally for, but only once you have paid it.