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North Carolina Timeshare Laws Regarding Cancellation

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If you live in North Carolina and are the owner of a timeshare property that you want cancelled, then our team is standing by to help. We connect timeshare property owners with reputable timeshare exit solution providers who use the law to try to help people cancel their unwanted timeshare properties.

North Carolina Timeshare Laws

Timeshare laws for the state of North Carolina can be found within the North Carolina General Statutes starting at Chapter 93A, Article 4. This section is known as the North Carolina Time Share Act. The laws in this act that are related to timeshare registration requirements can be found at Chapter 93A, Article 4, Sec. 93A-40, while the laws relating to timeshare exchange programs can be found at Chapter 93A, Article 4, Sec. 93A-48. The rules within the North Carolina Time Share Act are designed to protect consumers and can result in legal liability for developers if they don’t follow the rules listed.

In the state of North Carolina, timeshare developers are required to provide a public offering statement to prospective timeshare property buyers. A public offering statement has a list of disclosures that are important for the buyer to know, including:

  • The total financial obligation of the purchaser
  • The specific term of the timeshare
  • The nature and duration of the agreement
  • Your rights to cancellation

The laws that describe all of the mandatory disclosures that need to be made to timeshare property buyers can be found at Chapter 93A, Article 4, Sec. 93A-44.

Recission Period

In the state of North Carolina, you have five days to rescind a timeshare purchase from the date of the execution of the purchase contract. As a timeshare buyer, you are also supposed to receive the public offering statement prior to execution of the purchase contract. This North Carolina timeshare law can be found in the North Carolina Time Share Act at Chapter 93A, Article 4, Sec. 93A-45. If you have any questions about North Carolina 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 North Carolina Timeshare Owners

 

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

Answer: Yes, North Carolina timeshare advertisements that include prizes are regulated under Chapter 75 of the North Carolina General Statutes. This section is meant to protect consumers and regulate a number of advertisement methods. A violation of the North Carolina Time Share Act can be classified as a criminal misdemeanor under Chapter 93A, Article 4, Sec. 93A-56. If you feel you have been the victim of misrepresentation, then it is important to speak to an experienced attorney to see what actions you may be able to take.

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. North Carolina timeshare foreclosure law and procedure operates under regular state law as stated in Chapter 93A, Article 4, Sec. 93A-42. Foreclosures can be both judicial and nonjudicial in North Carolina as described by foreclosure laws that begin at Chapter 45, Article 2 of the North Carolina General 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 North Carolina law, however, you may able to give up ownership of a timeshare by filing for a renunciation of succession. The law on disclaimers in North Carolina can be found at the Renunciation of Property and Renunciation of Fiduciary Powers Act starting at Chapter 31B of the North Carolina General Statutes. It is best to speak to an experienced and qualified attorney to find out if you are eligible to file for a renunciation. 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 North Carolina 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 North Carolina timeshare. In North Carolina, 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 North Carolina 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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