Is timeshare contract binding?

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Is timeshare contract binding?

I purchased a timeshare approximately 2 years ago. My partner was with me but she did not commit to the purchase; I paid the down payment and made all of the monthly loan payments. My partner and I split up and payments are now excessive for me. She did not, and does not, want the timeshare. I have not used the timeshare but will have to soon or lose points. I’m in OH and the contract is in CA. Is the contract binding without her signature on the paper; her name is listed? Is it possible to get myself out of the contract? I’m retired, 67 years old, and have a pension income of $50,000 per year.

Asked on June 22, 2018 under Real Estate Law, Ohio

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The contract s binding on you since you signed and also since you honored your obligations under it (i.e. made the payments). Accordingly, you will either need to renegotiate its terms with the time share company or see if you can sell your intetest. As for your  ex-partner, since she did not sign the contract she is not a party to it, therefore it is unenforceable against her. 

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The contract is not binding against HER is she never signed--but you write that 1) you signed, and also 2) you made the payments, which means you honored your obligations and showed by your actions (as well as your signature) that you agreed to the contract. Therefore, the contract is binding against YOU. You entered into the contract. You will have to negotiate with the timeshare company to get out of it or else seek someone to buy you out.


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