When spouses are listing and dividing up their assets in a divorce, occasionally an important one that gets overlooked is a timeshare ownership. Perhaps one spouse was handling the payments, so the other spouse may have forgotten about it -- particularly if they hadn't vacationed there for awhile. However, forgetting about a timeshare can cause you legal and credit problems down the line with the resort if neither of you is paying for it after the divorce.
Splitting a timeshare can be tricky -- not just from a legal perspective, but because it means that you'll likely have to maintain some type of communication with your ex to coordinate your time spent there. If one spouse agrees to give the other full ownership (or it's awarded by the court), the other will need to release the deed.
Even if it's awarded to you in the divorce, until your ex signs the deed over to you, you won't have exclusive ownership. If the break-up is particularly acrimonious and your ex delays doing that or refuses to, your attorney can help you take steps to ensure that he or she complies.
Of course, some couples decide to sell the timeshare altogether. It may hold too many memories for both of you. Further, now that you're each on your own, that may be one place where you can cut back on expenses.
Whatever you decide, your Florida family law attorney can provide guidance and help you deal with your time share, as with all of your other property division issues, in the most efficient manner possible.
Source: Vacation Timeshare Rentals, "Timeshare Ownership: How to Split a Timeshare in a Divorce," accessed June 09, 2016