despritfreya
Member
You list the asset on Schedule A Real Property. You value it as best you can and you state that you have a 50% interest. Unless there is an exemption that will cover the timeshare your Trustee can attempt to sell the asset. He/she has the right to sell the estate's interest along with the co-owners interest. The co-owner would be entitled to 50% of the net proceeds.I am legally bound by the divorce decree with my former spouse. . . The value is anybody's guess, since it is hard to compare to a standard. Certainly it was not worth what we paid for it. I guess my only question would be how is this an asset to be listed , when it is jointly owned together with a former spouse and equally divided between? I would believe the court record of divorce issued with decree, is superior to the asset requirement, simply because it has no recoverable value and is a vacation week split equally between the owners, but I don't know, that's why I ask before I file
Here is the auction site I was thinking of for on-line bk auctions for timeshares. . .
https://www.bkassets.com/timeshares/
With an additional Ebay link. . .
http://stores.ebay.com/Online-Bankruptcy-Asset-Auctions/Timeshares-/_i.html?_fsub=1190267012&_sid=1674562&_trksid=p4634.c0.m322
If the asset is not covered by an exemption it will be up to the Trustee to decide if it is something he/she wants to market. If he/she is unable to sell the asset it will eventually be abandoned and ownership, as provided for by the divorce decree, will be returned to you.
Tomorrow morning I will go through all of these posts to see if there is something I can add.
Des.