Legal Question in Real Estate Law in Virginia

I co-signed for a Timeshare property in VA for a friend. When, they purchased they didn't specify that I would be responsible for the payments only as a representative because we previously owned. Now, that they are behind in payments they are claiming that I am responsible. They said in order for my name to be removed we will need to have a lawyer draw up some papers stating that I am not on the deed and I am not obligated on the property. Please advise.


Asked on 2/26/13, 1:52 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

No, not quite. Whoever now holds the note for this debt/obligation

would first have to agree that you should be allowed to be removed as

a co-owner/signer for this obligation before any such papers

could be drafted and properly executed by all of the parties

involved in the matter whose signatures on the document(s) would

be necessary.

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Answered on 2/26/13, 2:06 pm


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