If you are a Kentucky resident who owns a timeshare property that needs to be cancelled, then we are ready to help you. Our experienced team helps timeshare owners connect with reputable timeshare exit solution providers who can help timeshare owners’ cancel their timeshare properties.
Kentucky Timeshare Laws
Timeshare laws for the state of Kentucky can be found within the Kentucky Revised Statutes beginning at 367.395. In reading this, you will learn that timeshares in Kentucky are actually referred to as buying or vacation clubs. The laws related to remedies and powers of the Attorney General can be found at 367.405, and the laws related to bond requirements can be found at 367.403. The laws laid out in these sections describe the legal responsibilities of timeshare developers. If Kentucky timeshare developers don’t follow the rules in these sections, they can potentially face legal liability.
In the state of Kentucky, the main disclosure required under Kentucky timeshare law is the disclosure of cancellation rights. This requires that a timeshare purchase contract includes a cancellation disclosure titled ‘MEMBERS’ RIGHT TO CANCEL’ in bold face type with a minimum of a 14-point font. The full requirements for this law can be found at 367.399.
In the state of Kentucky, you have three business days to rescind a timeshare purchase. This Kentucky timeshare law can be found in the Kentucky Revised Statutes at 367.397. If you have any questions about Kentucky 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 Kentucky Timeshare Owners
1. Are there laws in Kentucky that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?
Answer: Not specifically, if you feel you have been the victim of misrepresentation or unethical sales tactics, then you should speak to an attorney who can best assess your situation.
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, Kentucky timeshare companies can 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. Kentucky timeshare foreclosure operates under regular Kentucky foreclosure laws and can be found within the Kentucky Revised Statutes at Chapter 426.
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 Kentucky law, however, you may able to give up ownership of a timeshare by filing a disclaimer of property. The law on disclaimers in Kentucky can be found within the Kentucky Revised Statutes “right to disclaim succession” at 394.610. 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 Kentucky legislature that can help timeshare owners in the future?
Answer: Not at the current time. The Kentucky Real Estate Commission enforces timeshare law in Kentucky, 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 Kentucky timeshare. In Kentucky, 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.