Transfer Or Termination of Timeshare Interest

Sec. 221.101. TRANSFER OR TERMINATION OF TIMESHARE INTEREST. In this subchapter: (1) "Termination" with respect to a timeshare interest: (A) means: (i) the release of contractual obligations relating to a timeshare interest by the developer, association, or managing entity; or (ii) the invalidation, cancellation, nullification, or cessation of contractual obligations related to a timeshare interest by a judgment or court order; and (B) does not include the cancellation of a purchase contract governed by Subchapter E. (2) "Transfer" with respect to a timeshare interest means the conveyance of all or substantially all of a timeshare interest. Added by Acts 2015, 84th Leg., R.S., Ch. 554 (H.B. 2261), Sec. 2, eff. September 1, 2015.