Texas Property Code

§ 221.032 — TIMESHARE DISCLOSURE STATEMENT

PR § 221.032Title 12. MISCELLANEOUS SHARED REAL PROPERTY INTERESTS · Ch. 221. TEXAS TIMESHARE ACT · Art. D. DISCLOSURE

Statute text

(a)Before the signing of any agreement to acquire a timeshare interest, the developer shall provide a timeshare disclosure statement to the prospective purchaser and shall obtain from the purchaser a written acknowledgement of receipt of the timeshare disclosure statement.

(b)The timeshare disclosure statement for a single-site timeshare plan or a multisite timeshare plan that includes a specific timeshare interest must include:

(1)the type of timeshare plan offered and the name and address of:

(A)the developer; and

(B)the single site or specific site offered for the multisite timeshare plan;

(2)a description of the duration and operation of the timeshare plan;

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Legislative history

Acts 2005, 79th Leg., Ch. 539 (H.B. 1045), Sec. 5, eff. January 15, 2006. Acts 2009, 81st Leg., R.S., Ch. 279 (S.B. 1036), Sec. 2, eff. September 1, 2009.