Barclays Bank unsecure loan

Brock_and_Roll

Just to be clear, it is the Estate of the late timeshare owner that is responsible for any timeshare related debts not the beneficiaries in the deceased will.

The Estate is responsible for maintenance fees after death. The timeshare company can't go after the beneficiaries if they choose not to pay, but it can go after the Estate for payment. When the payments aren't made, the late fees accumulate. Eventually the timeshare company will call a default and take back the timeshare. If the Estate has assets at the time of death, the assets must be used to satisfy this debt.

So whilst technically and owners children are not bound to take on the assets and liabilities of the timeshare, if they are beneficiaries in the will ultimately they may end up "paying" in the form of a lower inheritance.

It goes without saying that this is a pretty deplorable situation but I cant see any evidence that such perpetuity clauses have been tested in court and of course the executors have a legal obligation to satisfy the debts of an estate before distributing the net assets.

Fruit_and_Nut_Case

raimundas wrote: »

I have read in newspapers that Bill of lading can act like security for mortgage loans,is it true?

This is :spam: