Arizona timeshare law is governed under the Timeshare Owners’ Association and Management act. A.R.S. § states that the developer has certain responsibilities and obligations throughout the duration of your timeshare ownership. If you feel that your timeshare is being managed improperly, or if you wish to file a timeshare dispute please contact a timeshare attorney to determine your rights as a timeshare owner. The following covers the fundamentals of timeshare law in Arizona:
Timeshare Cancelation in Arizona
Under Arizona Revised Statutes § .03A a purchaser of a timeshare may rescind the contract by sending or delivering written notice to the seller by midnight of the seventh calendar day following the day the purchase agreement was signed. The rescission rights must be conspicuously disclosed in the purchase agreement. If you need to cancel a timeshare contract in Arizona, we recommend speaking with a lawyer experienced in timeshare law to determine if these restrictions may apply to your claim.
Timeshare Foreclosure
Arizona Revised Statutes § is sanctioned to govern the procedure involving a foreclosure of assessment liens by timeshare owners’ association, developer, or any managing entity. As timeshare law in Arizona only briefly covers the parameters of the foreclosure process, if you are in danger of a foreclosure, please consult a timeshare lawyer as soon as possible. The timeshare foreclosure proceedings can move very quickly.
Arizona Revised Statutes § now permits the timeshare owners’ association to hold a Trustee’s Sale of the timeshare estate if the owner is delinquent in payments over one year. This timeshare law dramatically impacts the timeshare foreclosure process as a trustee’s sale is much easier and more cost effective for the timeshare owners’ association. Under this decree, a timeshare owner only has 30 days to file a claim before forfeiting their rights as a timeshare owner.
**If you are behind in maintenance fees or owe a special assessment in the state of Arizona, it is suggested that you contact a timeshare attorney immediately to prevent the Trustee’s Sale of your timeshare.**
