Texas Property Code

§ 221.103 — GENERAL DISCLOSURES REQUIRED

PR § 221.103Title 12. MISCELLANEOUS SHARED REAL PROPERTY INTERESTS · Ch. 221. TEXAS TIMESHARE ACT · Art. J. SERVICE AGREEMENTS TO TRANSFER OR TERMINATE A TIMESHARE INTEREST

Statute text

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A person subject to this subchapter who enters into an agreement with a timeshare interest owner to facilitate the transfer or termination of a timeshare interest shall provide to the timeshare interest owner, before the third day before the date the timeshare interest owner enters into the agreement the following written disclosures, as applicable:

(1)the name, telephone number, and physical address of the person providing services under the agreement and any affiliate, agent, or third-party representative of that person;

(2)if the person identified in Subdivision (1), or an affiliate, agent, or third-party representative of that person providing services under the agreement, is an attorney licensed to practice law in this state, a disclosure of whether the attorney will be providing services under the agreement and representing the timeshare interest owner in connection with the transfer or termination of the timeshare interest;

(3)a description, legally sufficient for identification, of the timeshare interest to be transferred or terminated;

(4)a description of the method of transfer or termination or a copy of the instrument that will be used for transferring or terminating the timeshare interest;

(5)a description of any interest the timeshare interest owner retains after the transfer;

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Legislative history

Added by Acts 2015, 84th Leg., R.S., Ch. 554 (H.B. 2261), Sec. 2, eff. September 1, 2015.