divorce- marriott aruba surf club

[jballard]

Hi. I'm unhappy to report that my husband and I are getting a divorce. Totally unexpected...We own at the Marriott Aruba Surf Club, every other year, gold season. Where would I start to find out the value of the timeshare? He is claiming that he does not want it. I love our timeshare,but am not sure if I'll want to keep it due to the loan we are still paying on it. Concerned that the value will be less than the balance of our loan.

Considering telling him that we either try to sell it or have me buy him out.

Where can I look for timeshares comparable to ours? I looked on this one, but was unable to find the "every other year" option. I'm sure there is info out there, but I have not been able to put my fingers on it.

Also, just any advice, wisdom, thoughts would be appreciated. Many thanks.

 

[brigechols]

Check for comparables on www.redweek.com

 

[ilene13]

I am sorry for your problem. I would look on redweek and see if there are any units comparable to yours for sale. Good luck.

 

[erm]

I'd suggest checking completed listing on e-bay to see what the units actually are selling for. Other listings you see are only asking prices, I believe Dioxide also keeps a database of Marriott week sales. So sorry about your unexpected divorce. Your timeshare may actually be worth less than you owe on it, so it's important to have some idea of its worth before you make any decision about keeping it or taking over payments. In this economic climate you might find one at less than you owe. You're smart to be asking here. Tug folks have lots of good information.

 

[bogey21]

No brainer. Insist through your lawyer that he pay it off before divorce is final. Who gets it after that is immaterial.

George

 

[m61376]

With the economic downturn the prices for the Gold weeks have really taken a down-turn, and it is very likely that you owe more than the value of the week (if you owe more than 4-5K you will have an issue). There were few every other year weeks sold at the Surf Club (as far as I know they only offered that option for a relatively short timeframe and for a limited number of units) so I have not seen one sold on Ebay, but there have been several Gold weeks in all view categories for you to look at comps for. Marriott used to charge 60% for an every other year versus an every year, but figure on an every other year being about half of an every year, although some people have indicated that every other years are worth a little less than half. My impression is that selling prices on Redweek probably fare a tad better, but not substantially so, so Ebay is a good gauge of the bottom of the market at least.

Sorry, I am sure that's not what you wanted to hear especially under such trying circumstances. As suggested above, trying to get your soon to be ex to pay off the loan in the divorce agreement would be in your best interest. Good luck!

 

[sunshine4]

Just my opinion, but if you are going to keep and be responsible for the MF in the future he should definately be responsible to pay off the balance...deed it to you.

 

[dioxide45]

Just my opinion, but if you are going to keep and be responsible for the MF in the future he should definately be responsible to pay off the balance...deed it to you.

IMO, I would agree also. At the very least, a buyout would mean that the OP just takes over payments. Because the value has dropped do drastically, there is no paying the OPs spouse any money to buy him out.

Deeding the unit over however, wouldn't remove the husband's responsibility to pay on the loan. If the OP defaults, Marriott will come after the husband for payment.

 

[piper_chuck]

Hi. I'm unhappy to report that my husband and I are getting a divorce. Totally unexpected...We own at the Marriott Aruba Surf Club, every other year, gold season. Where would I start to find out the value of the timeshare? He is claiming that he does not want it. I love our timeshare,but am not sure if I'll want to keep it due to the loan we are still paying on it. Concerned that the value will be less than the balance of our loan.

Sorry to hear about the impending divorce.

I don't know how your assets are being divided, but you actually want the lowest possible valuation on everything that ends up in your column. With a low value, the loan liability will cause the timeshare to be a net negative asset, which you can then insist be covered by cash or something else you want.

 

[Stefa]

Sorry to hear about the impending divorce.

I don't know how your assets are being divided, but you actually want the lowest possible valuation on everything that ends up in your column. With a low value, the loan liability will cause the timeshare to be a net negative asset, which you can then insist be covered by cash or something else you want.

For this reason DO NOT use RedWeek or other listing site for valuation. Those are asking prices and the reasonably priced units sell right away while the overpriced ones sit around and give a false impression of value. Also, even for the units that do sell you have no idea what the final price actually was. In many cases it will be significantly lower than what is shown online.

 

[Ron98GT]

Hi. I'm unhappy to report that my husband and I are getting a divorce. Totally unexpected...We own at the Marriott Aruba Surf Club, every other year, gold season. Where would I start to find out the value of the timeshare? He is claiming that he does not want it. I love our timeshare,but am not sure if I'll want to keep it due to the loan we are still paying on it. Concerned that the value will be less than the balance of our loan.

Considering telling him that we either try to sell it or have me buy him out.

Where can I look for timeshares comparable to ours? I looked on this one, but was unable to find the "every other year" option. I'm sure there is info out there, but I have not been able to put my fingers on it.

Also, just any advice, wisdom, thoughts would be appreciated. Many thanks.

You didn't say how many BR's, if it's OV, and if it's a LO, but I assume yours is worth 1/2 the sales price of this one, at best:

http://www.ebay.com/itm/MARRIOTT-AR...70825560535?pt=Timeshares&hash=item3f0e7619d7

I would agree with the others, show a negative value to the courts, make him pay it off before the divorce is finalized, and then you maintain the use of the property and pay the MF's. Also make sure his name is removed from the deed and from Marriott.

MF's are a lot lower than I expected: $1130 every other year or $565 each year. You get to show that to the court as an ongoing expense. Enjoy the property.

 

[4Reliefnow]

Redweek advertisements are the asking price. If you are going to buy him out, you want to show transaction prices as low as you can get. I recommend you look at Ebay for extremely low transactions.

Put in your search for Marriott timeshare, narrow it down for sale, and then in the left hand column click on completed auctions. Sort by price highest first and then scan down for Aruba. keep going to find the lowest price Aruba sale. Repeat after one month and you will have new listings. This will show you what actually traded and it will show you some high priced listing which had no bids at all. Look at listing number 290625761812 which was a 2 br Gold week sold last week for $8,550

My guess is that if you still have a loan on the Aruba timeshare week then you offer your husband that you will take over all the loan and maintenance payments. you allow him to walk away from the debt and future payments.

Try this math $8550 /2 (you own half) = 4,275 minus the loan balance and if the loan is more than $4,275 he owes you money. His lawyer could say half the loan is yours also, but debt is poison in a divorce, you need to be compensated for taking over the debt.

 

[bogey21]

My guess is that if you still have a loan on the Aruba timeshare week then you offer your husband that you will take over all the loan and maintenance payments. you allow him to walk away from the debt and future payments.

IMO this is nuts. This is a divorce. Either make him keep the Week with all the debt or give it to you after paying off the debt. If he keeps it (and the debt), so be it. You can always buy another on the cheap.

George