Texas Timeshare Act

Texas · PR · §§ 221.001 to 221.111 · 62 sections

Overview

This act governs the creation, sale, and ongoing administration of timeshare interests in real property, addressing how a timeshare regime is declared, how the interests are conveyed and encumbered, and how commonly owned property is held and partitioned. It requires developers to register timeshare plans with a state regulatory authority before offering them — with procedures for application, amendment, renewal, suspension, and denial, plus investigative and enforcement powers — and it regulates advertising and promotion while mandating written timeshare and exchange disclosure statements. It also gives purchasers a right to cancel and obtain a refund, imposes contract, documentation, escrow or alternative financial-assurance, and insurance obligations on developers and exchange companies, and requires managing entities to provide annual fee and expense statements, all backed by civil penalties, injunctive relief, and deceptive trade practice liability.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.

In the courts

Sections of this act have been cited in 3 court decisions.

Most-cited authority: 289 F.3d 837 - Bank National Association 1995-C1 v. A Sleutel

Sections covered

Tex. Prop. Code § 221.001SHORT TITLE
Tex. Prop. Code § 221.002DEFINITIONS
Tex. Prop. Code § 221.003APPLICABILITY
Tex. Prop. Code § 221.004CONFLICTS OF LAW
Tex. Prop. Code § 221.011DECLARATION
Tex. Prop. Code § 221.012CONVEYANCE AND ENCUMBRANCE
Tex. Prop. Code § 221.013COMMON OWNERSHIP
Tex. Prop. Code § 221.014PARTITION
Tex. Prop. Code § 221.021REGISTRATION REQUIRED
Tex. Prop. Code § 221.022APPLICATION FOR REGISTRATION
Tex. Prop. Code § 221.023AMENDMENT OF REGISTRATION
Tex. Prop. Code § 221.024POWERS OF COMMISSION
Tex. Prop. Code § 221.0245COMPLAINT INVESTIGATION
Tex. Prop. Code § 221.025EFFECT OF REGISTRATION ON OTHER LAWS: EXEMPTION FROM CERTAIN LAWS
Tex. Prop. Code § 221.026ISSUANCE AND RENEWAL OF REGISTRATION
Tex. Prop. Code § 221.027TEMPORARY SUSPENSION
Tex. Prop. Code § 221.028DENIAL OF REGISTRATION RENEWAL
Tex. Prop. Code § 221.031ADVERTISEMENTS AND PROMOTIONS
Tex. Prop. Code § 221.032TIMESHARE DISCLOSURE STATEMENT
Tex. Prop. Code § 221.033EXCHANGE DISCLOSURE STATEMENT
Tex. Prop. Code § 221.034EXEMPT OFFERINGS AND DISPOSITIONS; COMMUNICATIONS
Tex. Prop. Code § 221.035SUPERVISORY DUTIES OF DEVELOPER
Tex. Prop. Code § 221.036DEVELOPER PREPARATION AND COMPLETION OF DOCUMENTS
Tex. Prop. Code § 221.037ALTERNATIVE TERMINOLOGY OR NAME
Tex. Prop. Code § 221.041PURCHASER'S RIGHT TO CANCEL2 cites
Tex. Prop. Code § 221.042NOTICE; REFUND
Tex. Prop. Code § 221.043CONTRACT REQUIREMENTS
Tex. Prop. Code § 221.051OPERATION REQUIREMENT
Tex. Prop. Code § 221.052LIABILITY OF DEVELOPER AND EXCHANGE COMPANY
Tex. Prop. Code § 221.053EXCHANGE COMPANY LIABILITY
Tex. Prop. Code § 221.061ESCROW OR TRUST ACCOUNT REQUIRED
Tex. Prop. Code § 221.062RELEASE OF ESCROW
Tex. Prop. Code § 221.063ALTERNATIVE TO ESCROW OR TRUST ACCOUNT: FINANCIAL ASSURANCE
Tex. Prop. Code § 221.064DOCUMENTATION REQUIRED
Tex. Prop. Code § 221.071DECEPTIVE TRADE PRACTICES
Tex. Prop. Code § 221.072INSURANCE
Tex. Prop. Code § 221.073PENALTY
Tex. Prop. Code § 221.074ANNUAL TIMESHARE FEE AND EXPENSE STATEMENT
Tex. Prop. Code § 221.075CIVIL PENALTY FOR LATE STATEMENT; INJUNCTION1 cite
Tex. Prop. Code § 221.076MANAGING ENTITIES THAT MANAGE MORE THAN ONE TIMESHARE PROPERTY
Tex. Prop. Code § 221.077AVAILABILITY OF BOOKS AND RECORDS; RECORDS RETENTION
Tex. Prop. Code § 221.081APPLICABILITY
Tex. Prop. Code § 221.082POWERS AND LIMITATIONS OF BOARD
Tex. Prop. Code § 221.083PERIOD OF DEVELOPER CONTROL
Tex. Prop. Code § 221.084ELECTION OF INITIAL BOARD MEMBERS AND OFFICERS
Tex. Prop. Code § 221.085REMOVAL OF BOARD MEMBERS
Tex. Prop. Code § 221.086QUORUM
Tex. Prop. Code § 221.087VOTES
Tex. Prop. Code § 221.088OPEN MEETINGS; EXCEPTIONS
Tex. Prop. Code § 221.089NOTICE
Tex. Prop. Code § 221.090DUTIES; LIST OF OWNERS
Tex. Prop. Code § 221.101TRANSFER OR TERMINATION OF TIMESHARE INTEREST
Tex. Prop. Code § 221.102APPLICABILITY
Tex. Prop. Code § 221.103GENERAL DISCLOSURES REQUIRED
Tex. Prop. Code § 221.104DISCLOSURE OF AUTHORIZED USE OF TIMESHARE INTEREST
Tex. Prop. Code § 221.105DISCLOSURES RELATING TO PAYMENT OF FEES FOR TRANSFER SERVICES
Tex. Prop. Code § 221.106REQUIRED NOTICE FOR TRANSFER SERVICES
Tex. Prop. Code § 221.107REQUIRED NOTICE FOR TERMINATION SERVICES
Tex. Prop. Code § 221.108RELIANCE
Tex. Prop. Code § 221.109DUTY OF GOOD FAITH REGARDING TRANSFER OR TERMINATION SERVICES
Tex. Prop. Code § 221.110DECEPTIVE TRADE PRACTICES
Tex. Prop. Code § 221.111SUPERVISORY DUTIES

Enacted in other states

North Carolina, Washington

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