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Ely, Counselor at Law
Category: Real Estate Law
Satisfied Customers: 102145
Experience:  Qualified attorney in private practice including business, family, criminal, and real estate issues.
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I entered into a joint ownership on a timeshare with a

Customer Question

Hi there, I entered into a joint ownership on a timeshare with a friend several years ago. Unfortunately he split on the whole deal and left me with the bill. I've talked to the timeshare company about this and I can't sell without him and I can't keep up with the payments to the company. If I stop paying them is there any legal recourse they have or am I just looking at a bad credit score for the rest of my life?
Submitted: 10 months ago.
Category: Real Estate Law
Expert:  Ely replied 10 months ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am very sorry to hear about this situation. On this website, I do not always get to give good news, and this is one of these times.

Technically, they can sue you for breach of contract. They will likely sue both of you, if they decide to sue. If they do, and they get a judgment, then they can enforce judgment (although Texas makes it very difficult for judgment creditors to do so since it is a debtor-friendly state).

Ergo, simply stopping payment is never a good idea. Someone in your situation can try to sell the timeshare (even your part, if possible) but only use a reputable agent, or, donate. You will likely need your former friend's cooperation, and hopefully he would agree if he sees that this is in both of your interests - he is as liable as you are for a judgment.

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Customer: replied 10 months ago.
if I donate will I still owe them money or will the debt be cleared? If it would clear the debt if you'd have any recommendations to organizations that would be great.
Expert:  Ely replied 10 months ago.
This depends on the donation organization you use. Many organizations will not take a timeshare that still has a loan out on it, but some do. If they do, they will typically take over the payments as well but it is on a case by case basis. Most of these organizations are charities.
Timeshare donation companies that may take the timeshare are some of the following:
However, there are others. Some are scams. See:
Please be sure you are dealing with a reputable company when doing so.
Gentle Reminder: Please, use REPLY or SEND button to keep chatting, or RATE POSITIVELY and SUBMIT your rating when we are finished. You may always ask follow ups at no charge after rating.

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