Last updated September 13th, 2022
Timeshare Exit Company With Office in Tennessee
Wesley Financial Group – In business since 2012
If you live in Tennessee and you own a timeshare property that you no longer want and are interested in cancelling, then our team is ready to assist. We connect timeshare property owners with reputable timeshare exit solution providers who work towards helping timeshare property owners cancel their unwanted timeshare properties.
Tennessee Timeshare Laws
Timeshare laws for the state of Tennessee can be found within the Tennessee Code starting at Title 66, Chapter 32, Part 1. This section is known as the Tennessee Time-Share Act of 1981. The laws in this act that are related to instruments for timeshare estates can be found at Title 66, Chapter 32, Sec. 66-32-106, while the laws relating to escrow of deposits can be found at Title 66, Chapter 32, Sec. 66-32-113. There are extensive protections for timeshare property buyers that are outlined in the rules within the Tennessee Time-Share Act of 1981 and they 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 Tennessee, timeshare developers are required to give buyers a copy of a public offering statement. A public offering statement is a document that contains a number of important disclosures that must be made to the buyer before a timeshare sale is made. These disclosures include:
- A brief description of the project
- The name and address of the developer
- Any initial or special fees due at closing
- A description of any liens, defects, or encumbrances on the title of the timeshare
The laws that describe all of the mandatory disclosures that need to be made to timeshare property buyers can be found at Title 66, Chapter 32, Sec. 66-32-112 of the Tennessee Code.
In the state of Tennessee, you have 10 days to rescind a timeshare purchase from the date of the execution of the purchase contract and receipt of the public offering statement if you as the purchaser was able to make an on-site inspection of the property. This rescission period extends to 15 days if you did not make an on-site inspection. Tennessee timeshare law even provides that you can void a contract at any time until you receive the public offering statement. These Tennessee timeshare laws can be found in the Tennessee Time-Share Act at Title 66, Chapter 32, Sec. 66-32-114. If you have any questions about Tennessee 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 Tennessee Timeshare Owners
1. Are there laws in Tennessee that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?
Answer: Yes, Tennessee timeshare rules outlaw misleading advertisements under Title 66, Chapter 32, Sec. 66-32-131. Specific prohibitions for advertising are regulated under Title 66, Chapter 32, Sec. 66-32-132. Unlawful acts related to prize or promotional offers are controlled under Title 66, Chapter 32, Sec. 66-32-133. Violations of these rules can result in the penalties outlined in Title 66, Chapter 32, Sec. 66-32-134. A violation of the provisions of the Tennessee Time-Share Act can even result in criminal liability as stated at Title 66, Chapter 32, Sec. 66-32-118. There are significant protections afforded to timeshare property buyers, if you have been negatively affected by the fraudulent activities of a timeshare developer, then it is important to speak to an experienced attorney.
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 return to the timeshare developer 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 hurt your credit and can result in garnishment. Tennessee timeshare foreclosure law and procedure operates under regular state law and can be found starting at Title 35, Chapter 5 of the Tennessee Code 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 Tennessee law, however, you may able to give up ownership of a timeshare by filing for a disclaimer of interests in property. The law on disclaimers of interests in property in Tennessee can be found at the Tennessee Disclaimer of Property Interests Act of the Tennessee Code starting at Title 31, Chapter 7. It is best to speak to an experienced and qualified attorney to find out if you are eligible to file for a disclaimer of interests in property. 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 Tennessee 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 Tennessee timeshare. In Tennessee, 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.