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Nevada Timeshare Laws Regarding Cancellation

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Timeshare Exit Companies With Offices in Nevada

 

If you live in the state of Nevada and own a timeshare that you need to cancel, then we are available to help. Our company links timeshare owners with reputable timeshare exit solution providers who look to help people cancel their unwanted timeshares.

Nevada Timeshare Laws

Timeshare laws for the state of Nevada can be found in the Nevada Revised Statutes starting at Chapter 119A. The laws related to the requirements for timeshare instruments can be found at NRS 119A.380, and the laws related to the requirements for the closing of a timeshare can be found at NRS 119A.430. The laws that exist within these sections outline the rules and legal responsibilities that timeshare developers have. Timeshare laws in the state of Nevada are extensive and require a deeper read than most other state timeshare laws. If timeshare developers don’t follow these laws, then they could face potential legal liability.

In the state of Nevada, timeshare developers are required to furnish a timeshare buyer with a public offering statement. A public offering statement is a document that contains important disclosures about a timeshare, and it required to include:

  • A brief history of the developer’s business background
  • A summary of the current annual budget
  • A detailed description of the type of timeshare plan being offered
  • A description of the duration of the timeshare plan

The laws that list all of the disclosures that a timeshare developer is required to make can be found at NRS 119A.307 of the Nevada Revised Statutes.

Recission Period

In the state of Nevada, you have five calendar days to rescind a timeshare purchase from the date of the execution of the purchase contract. This Nevada timeshare law can be found in the Nevada Revised Statutes at NRS 119A.410. If you have any questions about Nevada 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 213-282-5595 or fill out a form on the right side of the page.

Frequently Asked Questions from Nevada Timeshare Owners

1. Are there laws in Nevada that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?

Answer: Yes, there are multiple laws that protect consumers from dishonest and unethical timeshare developers. Nevada timeshare law prohibits timeshare sellers from false or misleading advertising practices regarding a timeshare. This law can be found at NRS 119A.700. Nevada timeshare law also forbids a developer from deceptive or unfair acts regarding a timeshare sale. This section can be found at NRS 119A.710. Nevada timeshare developers even have restrictions on what they can say in their promotional materials. These laws can be found at NRS 119A.702.

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. Nevada timeshare foreclosure law generally follows regular foreclosures and can be found starting at Title 9, Chapter 107 of the Nevada Revised Statutes.

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 Nevada law, however, you may able to give up ownership of a timeshare by filing for a disclaimer of property. The law on disclaimers in Nevada can be found within the Disclaimer of Property Interests Act of the Nevada Revised Statutes at Title 10, Chapter 120. It is best to speak to an experienced and qualified attorney to find out if you are eligible to file for a disclaimer of property. We can help you find that attorney, call (213) 282-5595 or fill out a form on the right side of the page.

4. Are there any laws pending in the Nevada legislature that can help timeshare owners in the future?

Answer: No, not at the current time.

About Us

Our team of professionals is standing by to help you start the process of getting rid of your Nevada timeshare. In Nevada, 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.

Call us today at (213) 282-5595 or contact us online so we can help connect you with a Nevada timeshare exit solution provider who may be able to help you legally cancel your timeshare.

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.

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