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5. Is there a CA exemption code for timeshares?

 
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  • Answered by:cfortunato
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Customer Question

5. Is there a CA exemption code for timeshares?

Submitted: 341 days and 15 hours ago.
Category: Bankruptcy Law
Value: $25
Status: CLOSED
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Expert:  cfortunato replied 341 days and 14 hours ago.

Most timeshares have no value because they cannot be sold.

Can your timeshare be sold? If so, can it be sold for more than what - if anything - is owed on the timeshare?

Customer replied 341 days and 14 hours ago.

I don't owe anything on it except annual maintenance and Taxes and I have 2 of them in Florida, and they were paid in full and never had a loan and I don't really need to put them in the schedules, as they would never show up anywhere. but i was conned, paid entirely too much and since 1999 when i bought them, I have tried many times to sell them through companies and online, and I can't even get 1k for them. but maybe the Trustee would have better luck, as I paid dearly for them

Accepted Answer

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Expert:  cfortunato replied 341 days and 14 hours ago.

There is no exemption specifically for timeshares. However, if they cannot be sold, you will be able to keep them.

Expert TypeAttorney
Category: Bankruptcy Law
Pos. Feedback: 99.5 %
Accepts: 2995
Answered: 5/13/2012

Experience: Bankruptcy professor.

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