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How does bankruptcy affect timeshare ownership if the timeshare is co-owned by 2 people on the lease?
Wiki User
∙ 8y ago
In theory, the trustee could sell your interest in the timeshare to any willing buyer. The trustee might even offer to sell your interest to the other co-owner. However, the trustee may determine that it isn't worth the hassle of selling and could abandon the property back to you.
Wiki User
∙ 8y ago
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How does bankrupTcy affect timeshare ownership?
The timeshare is like any other asset. If the timeshare developer is filing for a bankruptcy, the result is their services and amenities would tend to lower. There is also a possiblity that the establishment would eventually stop its operation. If a company is on a state of bankruptcy, that means it has lesser resources to spend on its services. The same case in timeshare companies. They would have fewer financial resources to be spent on maintaining their timeshare resorts. It's very simple, the services and the quality of a certain timeshare start to diminish up to the point of closing the resort. In some cases, timeshare companies filing for bankruptcy would tend to increase their charges to its customers until they eventually stop their operations. This is also a way of coping up with their profits.
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no
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Where can you find information about corporate bankruptcy laws?
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No
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no gehegle
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In what ways affect a bankruptcy your Australian marriage visa?
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I am nearing retirement and have many credit card bills to pay which i cannot afford. is bankruptcy an answer and will it affect my partner if it is personal bankruptcy?
You should definitely discuss bankruptcy with an experienced attorney. It will affect your partner only if you have joint debts that wll have to be listed in the bankruptcy. S/he will have to pay the debt.
How do the new bankruptcy laws affect bankruptcy lawyers?
The signature by an attorney on the bankruptcy petition is a certification that he or she has no knowledge, after a diligent inquiry, that the information on the schedules is incorrect.
