Deciding who gets the timeshare in a divorce can be challenging for many reasons. It is a very stressful time for most people, and disputes over property only add to the difficulty. Property disputes often become one of the bigger issues during a divorce. Things like who gets the family home and the car may become a big battle in court. It is best when both spouses can come to a reasonable agreement about things and settle quickly and fairly. This, however, is easier said than done. One person may feel like they are entitled to certain items that they view as their personal property, while their ex-spouse disagrees. Other items can be hard to settle because they are considered marital property, which is even more complicated to divide.
Personal property is that which belongs to one party and should go with them after separation. Typically, this would be something that the spouse already had prior to the marriage. For example, if either the husband or wife had collectible items in the home that they had owned since their childhood, the other spouse would have trouble making a claim for them. There are factors that could change the scenario like if, how, and by whom the items were used during the marriage. Understanding and identifying what will be considered personal property is often more complicated than it seems and requires professional legal assistance.
Marital property is that which belonged to the couple during the marriage. Things like a home or vehicle that both persons paid for would typically fall into this category. This can be one of the most challenging things to navigate in a divorce case. Vacation homes, such as a timeshare, is a property with divided ownership.
How are Timeshares Treated in a Divorce Case?
Timeshares can be difficult in a divorce case because of the nature of the divided ownership. Both husband and wife will likely have their names on the paperwork, and a timeshare always involves some form of third-party property management. Each case is valuated independently. There are several things to take into consideration when dealing with a timeshare in a divorce, such as:
- Who wants the timeshare? If both ex-spouses want the timeshare, disputes could arise during the proceedings.
- Who will use the timeshare? If one spouse is likely to use it and the other is not, that could be an important consideration in the settlement.
- What are the economic benefits or downsides? Timeshares can be expensive. During a divorce, it is good to consider whether it will be more of a benefit or a burden to keep.
There are three main options for a timeshare: it can be awarded to one spouse, it can be sold, or divorced parties may choose to continue sharing it, even after separation. A qualified divorce lawyer can help determine the best option.
Lawyers at Burnham Douglass help clients with the division of marital assets in a divorce. Call us to understand those rights and obligations!
If you are going through a divorce and struggling with disputes about property, our lawyers at Burnham Douglass can help. We help clients successfully navigate the complexities of divorce, including the division of assets. Call us at 856-751-5505 or complete our online form for a free consultation today. Located in Marlton and Northfield, New Jersey, we serve clients throughout New Jersey, including Camden County, Burlington County, Atlantic County, Gloucester County, Salem County and Mercer County.