TimeShare Ownership

[jaymcgary]

What is the name of your state (only U.S. law)? Texas

I currently live in Texas and was divorced in Dec2007. The divorce did not address ownership of a Timeshare that we owned in Las Vegas. The Timeshare is paid for, but the maintenance fees are still due every year. My ex-husband has not paid any of the maintenance fees and I'd like to remove him from the Timeshare Title. How do I remove him? It seems to me if he's not paying any of the maintenance fees that I should be able to remove him from the title. I do not know how to contact him to work out this issue.

[Ohiogal]

Originally Posted by jaymcgary

What is the name of your state (only U.S. law)? Texas

I currently live in Texas and was divorced in Dec2007. The divorce did not address ownership of a Timeshare that we owned in Las Vegas. The Timeshare is paid for, but the maintenance fees are still due every year. My ex-husband has not paid any of the maintenance fees and I'd like to remove him from the Timeshare Title. How do I remove him? It seems to me if he's not paying any of the maintenance fees that I should be able to remove him from the title. I do not know how to contact him to work out this issue.

You need to modify the divorce to deal with the timeshare. This should have been taken care during the divorce. You canNOT remove him. He is an owner. You are each seperately and jointly liable for the fees.

[mistoffolees]

Originally Posted by Ohiogal

You need to modify the divorce to deal with the timeshare. This should have been taken care during the divorce. You canNOT remove him. He is an owner. You are each seperately and jointly liable for the fees.

A less expensive way might be to get him to sign a quit claim on it. If he doesn't want it and is willing to let her have it, that would accomplish the same thing with less expense.

Of course, if he's uncooperative, she'll have to go back to court.

[LdiJ]

Originally Posted by mistoffolees

A less expensive way might be to get him to sign a quit claim on it. If he doesn't want it and is willing to let her have it, that would accomplish the same thing with less expense.

Of course, if he's uncooperative, she'll have to go back to court.

I agree. Timeshares tend not to have much of a resale value so its not like he would be giving up much signing the quit claim deed.

[mistoffolees]

Originally Posted by LdiJ

I agree. Timeshares tend not to have much of a resale value so its not like he would be giving up much signing the quit claim deed.

This is also a case where common sense prevails. Let's say it's going to cost $5 K to take him to court to win back the time share. Then, the court is likely to order that she pay him 1/2 of the value - whatever that might be (although it would not be hard for him to come up with an inflated value and support it with documents - given the aggressive sales efforts that time share companies practice. They make it look like time share resale values are high).

She might be much better off offering to pay him something for the quit claim deed - even if the time share couldn't be sold for much now.

[LdiJ]

Originally Posted by mistoffolees

This is also a case where common sense prevails. Let's say it's going to cost $5 K to take him to court to win back the time share. Then, the court is likely to order that she pay him 1/2 of the value - whatever that might be (although it would not be hard for him to come up with an inflated value and support it with documents - given the aggressive sales efforts that time share companies practice. They make it look like time share resale values are high).

She might be much better off offering to pay him something for the quit claim deed - even if the time share couldn't be sold for much now.

Hey, in my capacity as a tax professional I have actually seen sellers pay the buyers something to take the timeshares off of their hands...believe it or not.

If I see someone able to sell for 40% of what they paid for it, then they are right up at the very top...more often its about 10-20%.

[mistoffolees]

Originally Posted by LdiJ

Hey, in my capacity as a tax professional I have actually seen sellers pay the buyers something to take the timeshares off of their hands...believe it or not.

If I see someone able to sell for 40% of what they paid for it, then they are right up at the very top...more often its about 10-20%.

But that's my point. If it's often 10-20%, 40% on a good day, it's still worth something. AND, he can easily come in with an advertisement from the people selling new timeshares which suggests that they retain 100% or more of their value over time.

So whether it's a realistic 10-20% or a ridiculous 100%, there's some value - and legal expenses will only make it worse. If he won't just sign the quit claim deed, it may be better for her to offer him something (although just getting out of paying the maintenance fees MIGHT be enough for him).