Legal Question in Bankruptcy in California
Timeshares on a Ch. 7 Petition
How should timeshares be handled on a ch. 7?
Title is held by joint debtors. Market value is $3500 for one, $2000 for another and $1500 for the third. There will be about a $500 commission on each.
They are trying to sell two of them but have been on the market for quite some time.
Asked on 3/10/09, 2:28 am
1 Answer from Attorneys
Brian Whitaker
Lifeline Legal, LLP
Re: Timeshares on a Ch. 7 Petition
List them on Schedule B and exempt them on Schedule C.
Answered on 3/10/09, 3:12 am
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