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Oklahoma Timeshare Laws Regarding Cancellation

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If you live in the state of Oklahoma and own a timeshare that you would like to have cancelled, then our team is available to help you. We help timeshare owners find and connect with reputable timeshare exit solution providers who work to help people cancel their unwanted timeshares.

Oklahoma Timeshare Laws

Timeshare laws for the state of Oklahoma can be found within the Oklahoma Statutes starting at Title 71 which regulates securities. Oklahoma law treats timeshares as securities and does not specifically name timeshares. The laws that govern timeshares refer mainly to subdivided land. The laws in this act that are related to the registration of subdivided land can be found at Title 71, Section 71-625, while the laws relating to exemptions can be found at Title 71, Section 71-622. The rules governing the registration and sale of subdivided land 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 Oklahoma, a seller of a subdivided land is required to provide prospective purchasers with a list of disclosures contained in a public offering statement. The public offering statement contains important information about the subdivided land being offered for sale, including:

  • The name and address of the subdivider
  • A general description of the subdivided lands
  • The use for which the property is offered
  • The material terms of any encumbrances, easements, liens and restrictions on the property

The laws that describe all of the mandatory disclosures that need to be made to subdivided property buyers can be found at Title 71, Section 71-626.

Recission Period

In the state of Oklahoma, you have five days to rescind a timeshare purchase from the date that you (the purchaser) actually receive both a legible copy of the executed contract, and the public offering statement. This Oklahoma timeshare law can be found in the Oklahoma Statutes at Title 71, Section 71-643. If you have any questions about Oklahoma 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 Oklahoma Timeshare Owners

 

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

Answer: Yes, Oklahoma subdividers and agents are regulated under the fraud – penalty section of the Oklahoma Statutes governing securities which can be found at Title 71, Section 71-641. This section states that it is unlawful for any subdivider or agent selling a property to employ any device to defraud, make any untrue statements of a material fact, or engage in any act that would operate as fraud upon anyone. The laws related to advertising of subdivided lands can be found at Title 71, Section 71-653.

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. Oklahoma timeshare owners associations can foreclose on a mortgage as stated at Title 60, Section 60-852.

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 Oklahoma law, however, you may able to give up ownership of a timeshare by filing for a disclaimer of interest in a property that is to be inherited. The law on disclaimers in Oklahoma can be found within the wills and succession section of the Oklahoma Statutes starting at Title 84, Section 84-22. 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 Oklahoma 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 Oklahoma timeshare. In Oklahoma, 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 an Oklahoma 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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