We own two timeshares in NC we live in PA. I own them with my ex, but we also have a house. I am willing to pay the house mortgage, if she takes my name off the timeshares and pays them. It's not quite even because I would still be paying more, but I think in the long run would be worth it. Both our names are on them now, the money already comes out of her bank account. How do I get my name off? They are through Festiva Resorts......
We were never married. She convinced me to put my name as Primarys on these mortgages, so she could get what she wanted using my good credit (at the time). I'm just trying to cut my loses, and learn from this. I did this at a young stupid age of 22. The title of the house is in both our names. And I dont mind sharing that with her but I want to find any way to get my name off the timeshares. i dont want or care about the losses, that was always something SHE wanted. I just want no legal obligation to them anymore... I just want my name off.
This would involve sales agreements/title transfers in both PA (for your house) and NC (for the timeshares). That means you'd also likely be subject to transfer taxes for both, as well as the fees for recording new deeds. It can be done, but it won't be simple or inexpensive.
A question for you: how was this reflected in your divorce/separation agreement (if you were married)? Your divorce order from the court may incorporate the terms of your property settlement. If you weren't married, how was the property titled: were you joint tenants or tenants in common?
If you have to go through the sale from you to your ex to get the titles cleared in any case, you might want to consider putting one or both of the timeshares up for sale and getting your name removed that way (when the buyer takes title).
Have you considered how the properties would be distributed in the event either of you should die?
Because of the many aspects of this situation, you might want to consider going to the Blair County lawyer referral service to get a free or low-cost initial consultation with an attorney who could review your deeds, any divorce documents or cohabitation agreements, and timeshare contracts to give you a completely accurate view of your situation.
Of course, as with all of my online answers, my advice is limited by the brevity of your question and the facts provided. Additional information would be required to provide definitive legal advice, so this answer isn't intended to, and does not, create an attorney-client relationship.
1 found this helpful