If you live in South Dakota and you own a timeshare that you no longer want and prefer to have cancelled, then our team is available to help. We help timeshare owners find and connect with reputable timeshare exit solution providers who work towards helping timeshare owners cancel their unwanted timeshare properties.
South Dakota Timeshare Laws
Timeshare laws for the state of South Dakota can be found within the South Dakota Codified Laws starting at Title 43, Chapter 15B. This Chapter is titled South Dakota Time-Share Estates but does not contain all of the laws pertaining to timeshares. Other timeshare laws can be found within the South Dakota Real Estate Commission Administrative Rules governing timeshare estate sales at Chapter 20:69:12. The laws that are related to a timeshare application can be found here, while the laws relating to the requirement that an agent be licensed specifically to sell timeshares can be found here. The rules within these various sections of South Dakota law are designed to protect consumers and can result in legal liability for sellers if they don’t follow the rules listed.
In the state of South Dakota, timeshare developers are required to give purchasers a disclosure statement. A disclosure statement contains important disclosures about the property being offered for sale, including:
- A brief description of the method by which the timeshares are offered
- A description of the amount and types of units offered
- A summary of the developer’s escrow agreement
- An encouragement to actually read the disclosure statement in boldface
The laws that describe all of the mandatory disclosures that need to be made to timeshare property buyers can be found starting at Chapter 20:69:12:05 of the Administrative Rules.
In the state of South Dakota, you have seven calendar days to rescind a timeshare purchase from the date of the execution of the purchase contract or receipt of the disclosure statement, whichever is later. This South Dakota timeshare law can be found in the South Dakota Real Estate Commission Administrative Rules at Chapter 20:69:12:21. If you have any questions about South Dakota 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 South Dakota Timeshare Owners
1. Are there laws in South Dakota that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?
Answer: Yes, the South Dakota Real Estate Commission Administrative Rules govern agents unprofessional conduct. The rules make it unlawful for an agent to misrepresent or deceptively represent a material fact concerning a timeshare property. The rules also make it unlawful to use a promotional device without fully disclosing that the device is being used for promotion. These rules can be found at Chapter 20:69:12:36 of the South Dakota Real Estate Commission Administrative Rules.
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 developer if you stop paying your maintenance fees, most timeshare arrangements allow timeshare sellers to foreclose the timeshare in court which would likely result in a money judgement against you. Not paying fees or other money owed can harm your credit and can result in garnishment. South Dakota timeshare foreclosure law and procedure operates under regular state law and can be found starting at Title 21, Chapter 47 of the South Dakota Codified Laws which describes the procedures for foreclosure sales.
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 South Dakota law, however, you may able to give up ownership of a timeshare by filing for a disclaimer of property interest. The law on disclaimers of property interests in South Dakota can be found at the intestate succession and wills section describing disclaimer of property interests within the South Dakota Uniform Probate Code starting at Title 29A, Chapter 02, Sec. 29A-2-801. 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 interest in South Dakota. 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 South Dakota legislature that can help timeshare owners in the future?
Answer: No, not at the current time.
Our team of professionals is standing by to help you start the process of getting rid of your South Dakota timeshare. In South Dakota, 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.