Can a timeshare come after my house if I stop paying for the timeshare?

Asked on October 18, 2011 under Real Estate Law, Arizona

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you have an agreement to pay the timeshare off from its owner or you fail to pay for the maintenance and other costs associated with your timeshare you can be sued under any written or oral contract with respect to it by the seller or the organization supervising the property where your timeshare is located.

Most likely you will end up having a judgment against you concerning the issues regarding nonpayment for your timeshare or costs associated with it if you lose any litigation over it. As a result, the first thing the judgment creditor will go after to satisfy any judgment concerning the litigation is the timeshare which could be placed up for auction and monies generated from the sale will be used to pay off the judgment creditor.

There is the possibility that in the event of any judgment against you the creditor can try and levy upon your home for satisfaction of any resulting judgment but most likely your state has a homestead exemption concerning one's home where equity in it is exempt from levy up to a certain amount.

I recommend that you consult with an attorney over the question you are writing about to answer further questions that you may have.

Good luck.


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