Ending a marriage is never easy, but divorce can bring with it a much-needed fresh start. Before you can make the most of this second chance, though, you have to cut all ties with your ex. That means if you purchased a timeshare property together, you must decide what to do with it when dividing marital assets. Whereas spitting real property and financial assets is relatively straightforward, handling a timeshare can pose a challenge. If you’re unsure how to proceed, consider the following approaches. 

Transferring a Timeshare

If you don’t want to retain ownership for personal or financial reasons, it may be possible to transfer the timeshare property to your ex. Since taking this route could have a major impact on the final divorce settlement, though, it’s important to turn to professionals for help. Seasoned experts who specialize in appraising timeshare properties will calculate the unit’s total value, so you can decide whether to pursue a cash buyout or exchange the unit for some other tangible asset.

If you don’t own the property outright, the arrangement will be slightly more complicated. However, divorcing couples often have to pay off various debts before they start dividing their assets, so it can certainly can be done.  

Exiting a Timeshare

If your ex is not interested in keeping the property, either, you can exit the timeshare and divide any proceeds with the rest of your marital property. However, because they're considered a depreciating asset—and they come with a host of timeshare fees—existing these kinds of properties can be difficult. If you turn to an agency that specializes in unloading timeshares, though, you can both get out of the agreement in record time. 

If you need to get out of a timeshare contract, turn to the experts at Timeshare Selling Team. Located in Ballwin, MO, they’re proud to help clients nationwide get out of seemingly ironclad agreements with exorbitant maintenance costs. Since they offer a 100% money-back guarantee, you've got nothing to lose by enlisting their services. Whether you want to void the contract entirely or transfer ownership to your ex, they can help. To speak with a member of their team, call (855) 444-9360 or visit their website.