I read over that thread already. It really offers me no concrete direction of where to go to fix my issue. Thanks though.
After reading through the "bargains" section it looks like giving it away is even difficult. We would be willing to pay the loan off and just give it away I think. Is this a realistic option? I just don't want to go back to court with this still hanging on and have to explain to the judge that it seems almost impossible to get rid of.
Just deed it to the Judge Won’t help with your loan... But to give it away you will need that paid off.
It is not an asset. <--- "period" It is upside down (ie worth -13,000), with an ongoing obligation attached to it.Haha I wish. Yeah the ex is finding out this morning that it isn't worth the $12,000 she thinks it is. I realize we are going to have the eat the remaining $13,000 on the loan and are prepared to do that.
It is not an asset. <--- "period" It is upside down (ie worth -13,000), with an ongoing obligation attached to it.
Do you have a lawyer? Does the judge think its worth 12000? Is this value in a final settlement/judgment? You keep sidestepping this issue, but it is your real problem.
You can always petition the court to change its order.
Well the judge signed the order, as you stated on the false belief that it was an asset:I'm not sidestepping. It doesn't matter what the judge thinks either because the court order says "The timeshare must be sold. Any proceeds will be split between parties".
Did the Judge mean MF, when s/he said costs, or all costs to sell it? (I assume MF.)Apparently the court sees it as an asset and a liability since we were ordered to sell it and both pay the costs until it's sold.
Or at least that it will cost over $12,000 to get rid of.? I just don't want to go back to court with this still hanging on and have to explain to the judge that it seems almost impossible to get rid of.
It doesn't matter what the judge thinks either because the court order says "The timeshare must be sold. Any proceeds will be split between parties".
Well the decree says "The Sheraton Flex Vacations are to be sold immediately for a sum sufficient to pay off the indebtedness of same, and if there is any profit on the sale, then the profit is to be split equally between the above two parties".
This tells me that there is some belief that this can be sold in order to pay off the loan. Obviously that isn't going to happen. I'll have to get the attorney to inform the court that this is a worthless asset at this point and the only option is to dispose of it in the best equitable way.
Currently the cost is being shared 50% each which is fair in this scenario. But she probably flipped out today when told she needs to pony up $6500+ just to be able to complete the court order.
Glad you think you're cleverer than an attorney. I'm sure the judge was VERY glad you two agreed, and got the case OFF his/her docket.I'm not a lawyer but this situation is one of reasons I handled my own divorce. It enabled me to educate my ex-wife's lawyer as to the value of assets, liabilities, etc and have everything wrapped up before it got to the judge. All he had to do was ratify what we had agreed to. The most complicated thing in our divorce was the QDRO (Qualified Domistic Relations Order) because of my pension. After negotiating the terms with her lawyer, I wrote the Order myself. I guarantee you that the judge didn't understand half of it.
George
Well the decree says "The Sheraton Flex Vacations are to be sold immediately for a sum sufficient to pay off the indebtedness of same, and if there is any profit on the sale, then the profit is to be split equally between the above two parties".
This tells me that there is some belief that this can be sold in order to pay off the loan. Obviously that isn't going to happen. I'll have to get the attorney to inform the court that this is a worthless asset at this point and the only option is to dispose of it in the best equitable way.
Currently the cost is being shared 50% each which is fair in this scenario. But she probably flipped out today when told she needs to pony up $6500+ just to be able to complete the court order.
Glad you think you're cleverer than an attorney.
Interesting. IRS agents don’t even consider TS as part of your assets, more like a liability. Its valuation is probably a negative. Is that why the judge wants it unloaded?I got divorced and the court requires me to sell my Vistana Sheraton Flex timeshare. I've only had it maybe 2 years. But can I sell this? Give it away? Etc? I don't know my options or even where to start. Vistana was absolutely 0 help in this regard. Any help is greatly appreciated.
Good to know you are handing out legal advice after reviewing the court order, and know that the wife must contribute to pay off the loan.Besides, you already won; your wife has to pay half of the loan. You can now each pay half of the loan and then give away the FlexOptions for a dollar (of which you each get $0.50). If you then still want FlexOptions, you can find them for free if you look around. Or, you can find better timeshares, also for free.
Good to know you are handing out legal advice after reviewing the court order, and know that the wife must contribute to pay off the loan.
Poor girl.Every time you bring something with an attorney, it costs a lot of money. My daughter will sign divorce papers next week, three years and forty thousand dollars since she filed. All she got out of it was release from the numerous debt he kept running up in her name and supposed child support, which she doesn't get because he doesn't work. She will sig off on the youngest third birthday and she filed while pregnant
The monthly payments or the whole balance? I thought that was your problem.That part is true. She is ordered to pay half of the loan until it's disposed of.