Where do you list timeshare?

HOMEBODY

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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
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HHM

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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

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Joined: Jul 2008

Posts: 22995

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 (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog

Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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