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A person subject to this subchapter who enters into an agreement with a timeshare interest owner to facilitate the transfer or termination of a timeshare interest shall provide to the timeshare interest owner, before the third day before the date the timeshare interest owner enters into the agreement the following written disclosures, as applicable:
(1) the name, telephone number, and physical address of the person providing services under the agreement and any affiliate, agent, or third-party representative of that person;
(2) if the person identified in Subdivision (1), or an affiliate, agent, or third-party representative of that person providing services under the agreement, is an attorney licensed to practice law in this state, a disclosure of whether the attorney will be providing services under the agreement and representing the timeshare interest owner in connection with the transfer or termination of the timeshare interest;
(3) a description, legally sufficient for identification, of the timeshare interest to be transferred or terminated;
(4) a description of the method of transfer or termination or a copy of the instrument that will be used for transferring or terminating the timeshare interest;
(5) a description of any interest the timeshare interest owner retains after the transfer;
(6) a description of the scope of a power of attorney or other delegation of authority, if any, that the timeshare interest owner is required to give to complete the transfer of the timeshare interest;
(7) an itemized statement of any amounts the timeshare owner is required to pay as consideration or reimbursement for services provided in connection with the agreement;
(8) the name of each recipient of amounts described by Subdivision (7);
(9) the estimated date for completing all services sufficient to transfer or terminate the timeshare interest; and
(10) a statement that, on completion of the transfer or termination of the timeshare interest, the person will give written notice of the transfer or termination to:
(A) the developer, association, or managing entity, as applicable; and
(B) if applicable, the exchange company for the timeshare interest.
Cite this article: FindLaw.com - Texas Property Code - PROP § 221.103. General Disclosures Required - last updated April 14, 2021 | https://codes.findlaw.com/tx/property-code/prop-sect-221-103/
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