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Iowa 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.
Iowa Timeshare Cancellation
Under timeshare law 557A.14, Iowa’s right of rescission permits a purchaser to cancel a timeshare contract within five business days of signing the contract. The purchaser must submit the notification to cancel in writing, either by personal delivery, electronic delivery, or through United States mail. After the cancellation request is received the seller must return all purchase funds to the buyer within 30 days. The Iowa Timeshare Act also requires that a purchaser receive specific disclosure statements, one of which is that if you do not understand any provisions in your contract, that you should obtain professional advice. It is best to consult an attorney who is experienced in timeshare law.
Iowa Timeshare Sales and Resale Laws
Per 557A.20, any person in the profession or business of timeshare sales for fee or commission must be a licensed real estate agent in the state of Iowa. To sell timeshares in the state of Iowa without a proper real estate license will be deemed in violation of the Iowa Timeshare Act.
Your Rights as a Timeshare Owner
557A.14: This statute states that if the developer presents false information that may have affected the purchasers decision to enter into the contractual agreement, the developer is not only responsible for monetary compensation, but with sufficient evidence, the contract will become invalid.
**If you feel you were lied to by the developer when you purchased your timeshare, a timeshare attorney can help you to understand your rights as a timeshare owner. In certain circumstances they may be able to help you cancel a timeshare contract. Call 1-800-242-0532 now for help.**
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