If you live in the state of Iowa and own a timeshare property that you are looking to cancel, then our team is available to help you now. Our company helps owners of timeshare properties find reputable timeshare exit solution providers who can help timeshare owners’ cancel their timeshares.
Iowa Timeshare Laws
Timeshare laws for the state of Iowa can be found within the Iowa Code at Title XIV, Chapter 557A. The laws related to misrepresentation can be found at Title XIV, Chapter 557A.16, and the laws related to the creation of timeshares can be found at Title XIV, Chapter 557A.6. The laws within these sections outline the requirements and responsibilities of timeshare developers. If Iowa timeshare developers fail to follow the laws outlined in these sections, they could potentially face legal liability.
In the state of Iowa, timeshare developers are required to provide a current property report to a purchaser not later than 10 days after a purchaser signs a purchase agreement to buy a timeshare property. This report lists important disclosures, which include:
- A brief description of the timeshare project
- A general description of the units offered
- Any fees
- Your rights regarding cancellation of the purchase contract
The laws that explain all of the disclosure requirements for Iowa timeshare developers can be found at Title XIV, Chapter 557A.11.
In the state of Iowa, you have five business days to rescind a timeshare purchase. This Iowa timeshare law can be found in the Iowa Code at Title XIV, Chapter 557A.14. If you have any questions about Iowa timeshare law, then you should seek the advice of an experienced timeshare attorney. We can help you find that attorney. Give us a call at 833-416-8796 or fill out a form on the right side of the page.
Frequently Asked Questions from Iowa Timeshare Owners
1. Are there laws in Iowa that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?
Answer: Yes, Iowa law prohibits timeshare sellers from deceptive or unfair acts or practices regarding a timeshare. The law also forbids a developer from misrepresenting or failing to disclose any material fact regarding a timeshare. Iowa timeshare purchasers are protected under the enforcement and cause of action section of the Iowa Code Title XIV, Chapter 557A.16. The law in this section directs you to the consumer frauds criminal theft section of the Iowa Code at Title XVI, Chapter 714.16 which lays out the possibility of criminal liability for violations of the Iowa Code.
2. What types of financial harm can I face as a timeshare owner if I simply stopped paying my timeshare maintenance fees?
Answer: Multiple types, while it might be possible that the ownership of a timeshare can just revert to the timeshare company if you stop paying your maintenance fees, most timeshare agreements allow timeshare companies to foreclose the timeshare in court which would likely result in a money judgement against you. Not paying fees or other money owed can damage your credit and can result in garnishment. Iowa timeshare foreclosure operates under regular Iowa foreclosure laws and can be found within the Iowa Code at Title XV, Chapter 654.
3. Will my heirs be responsible for my timeshare when I die?
Answer: Yes, heirs will most likely be fully responsible for any timeshare that is inherited. Under Iowa law, however, you may able to give up ownership of a timeshare by filing a disclaimer of property. The law on disclaimers in Iowa can be found within the Uniform Disclaimer of Property Interest Act at Title XV, Chapter 633E of the Iowa Code. It is best to speak to an experienced and qualified attorney to find out if you are eligible to file for a disclaimer. We can help you find that attorney, call 833-416-8796 or fill out a form on the right side of the page.
4. Are there any laws pending in the Iowa legislature that can help timeshare owners in the future?
Answer: Not at the current time. The Iowa Real Estate Commission enforces timeshare law in Iowa, and their website can be found here.
Our team of professionals is standing by to help you start the process of getting rid of your Iowa timeshare. In Iowa, our team’s network of timeshare exit solution providers have helped countless timeshare owners cancel their timeshare contracts legally and permanently without harming the timeshare owner’s credit. At Timeshare Exit Companies, we lean on our past experience to help you achieve future success. We help you discover the best timeshare exit companies that can help you get rid of your timeshare once and for all.
Disclaimer: This page is for informational purposes only. Timeshare Exit Companies does not provide legal services, and none of the information provided in this article should be considered legal advice.