Legal Question in Bankruptcy in Minnesota
bankruptcy
Do I have to claim a time share as an asset in filing for bankruptcy?
Asked on 11/29/08, 6:30 pm
2 Answers from Attorneys
Sam Calvert
Calvert Law Office
Re: bankruptcy
All of your assets must be listed. A time share may have a very small value, or it may have a negative value if you still owe on it, but it should be listed.
Answered on 11/29/08, 11:25 pm
Lesley Hoenig
Lesley A. Hoenig, Attorney at Law
Re: bankruptcy
Yes, it must be listed, like anything else you own. You will find, however, that the trustee most likely won't waste time trying to liquidate your time share, as they are very difficult to sell.
Answered on 12/08/08, 12:37 pm
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