If I let a timeshare go, a lein be placed on my
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If I let a timeshare go, a lein be placed on my
I can no longer pay for my timeshare. The company refuses to work with me, all attempts to sell have been unsuccessful. Can they place a lien on my primary house for the full amount owed? Is there anyway to put a lien on the house to protect my family if they can?
Asked on March 15, 2016 under Real Estate Law, Texas
Answers:
B.H.F., Member, Texas State Bar / FreeAdvice Contributing Attorney
Answered 8 years ago | Contributor
As a general rule, Texas is very protective of homesteads.... so your primary home should be protected. Texas does have some limited exceptions for mortgages and home equity loans. If you used your house as collateral, then it would depend on whether or not the warnings or language were included that permited a lien. If you're concerned that this might be an issue, then take your timeshare contract to a real estate or consumer attorney for review. A short consult will be a small fee... but it will be worth a huge sigh of relief.
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