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Arkansas Timeshare Laws
Please be advised that you should not act upon any of this information without seeking proper legal counsel from an attorney experienced in timeshare law. Roberts Law Group makes no representation or warranty regarding the accuracy, reliability, completeness, or timeliness of any information provided. This information is provided for information only. All information posted here should not be used as a substitute for the advice of an appropriately qualified and licensed lawyer.
Arkansas timeshare laws are explained in the Arkansas Time-Share Act §18-14-101. Additional regulation is provided by the Arkansas Real Estate Commission through licensing and timeshare sales laws. The timeshare laws under act §18-14-101 legislates all timeshare created or purchased after February 25, 1983. If you have a timeshare purchased before this date, it is recommended that you speak with a timeshare lawyer to determine you rights as an owner.
Right of Rescission in Arkansas
Under §18-14-409, a buyer has five days to cancel a timeshare contract in Arkansas without penalty under this timeshare law. In order to file the request for timeshare cancellation, the buyer must mail the notice to the seller through United States mail, or deliver the notice in person. All funds paid by the purchaser must be refunded without consequence.
Timeshare Advertising Fraud
Under §18-14-502, in Arkansas false or misleading advertising is deemed to be unlawful under timeshare law. This includes timeshare fraud in relation to resale advertisements and developer sales. Arkansas Timeshare law 18-14-503 goes onto prohibit any declaration that purchasing a timeshare is an “investment” or that the value of the timeshare will increase in the near future (unless they provide proof to support this claim).
Statute of Limitations
Under §18-14-403, in Arkansas if a buyer is wishing to cancel a timeshare contract due to a question in regards to the accuracy or validity of said timeshare contract, judicial action must be pursed within four years of the date that the contract is signed. However, if both parties agree upon the terms, this time may be reduced to two years. If you are questioning the correctness or legitimacy of your Arkansas timeshare contract, please speak with an attorney to review your claim. If judicial action needs to be taken, filing as soon as possible may help to ensure that you are protected under Arkansas timeshare laws. If you are unsure when this four year period expires, your timeshare lawyer may be able to investigate the claim further on your behalf.
Timeshare Suspension and Penalty Disputes
Statue §18-14-303 sanctions timeshare owners the right to be given formal notice and the opportunity to file a dispute against any imposed monetary penalty or suspension of ownership by the developer or timeshare owners’ association. Under this Arkansas timeshare law, owners have the right to contest any financial penalty before it can be enforced. If you have been faced with a penalty or suspension of your rights as a timeshare owner in Arkansas, consulting a timeshare lawyer is suggested to challenge the fine.
If you have questions regarding any of the above information, please contact a timeshare attorney to review your options at 1-800-242-0532.
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