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Nevada 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.
Nevada’s timeshare laws are ruled by the Nevada Revised Statutes – Chapter 119A. This chapter is explicitly devoted to timeshare law in Nevada.
Timeshare Laws and Upfront Fees in Nevada
Nevada law provides various protections for a timeshare owner who attempts to sell the timeshare interest to another. If a broker collects an upfront or advance fee to sell the timeshare, the broker must place 80% of the money collected into an escrow account. If the timeshare is sold, the broker will be deemed to have earned the advance fee. If the timeshare is not sold during the listing period defined in the contract, the broker must return the 80% fee to the owner pursuant to NRS 119A.4779.
Right to Cancel a Timeshare Contract
In Nevada, a purchaser has the right to cancel a timeshare contract of sale until midnight of the fifth calendar day following the date the contract was executed. As stated in NRS 119A.410 this right to cancel may not be waived and notice must be given to the developer by certified mail or personal delivery. After receiving this notice, the developer must refund all payments within 15 days. The right of cancellation may not be waived; any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser. If you have purchased a timeshare from an individual or entity that is not the developer (like the resale market), please speak with a timeshare attorney to discuss what rescission rights, if any, are available to you.
Nevada Timeshare Resale Law
Nevada Revised Statute 119A.4771 provides guidelines for the sale and resale of timeshare. This statute states that other than developer sales, any person who wishes to offer, sell or advertise timeshare in Nevada must be a licensed broker AND timeshare resale broker if they are selling more than 12 units.
A timeshare may not be advertised until the advertisement is filed with the state. The developer must be aware of any and all advertising documents, brochures, gifts, or presentations as stated in NRS 119A.4773.
For more information on timeshare laws in Nevada, please visit the Nevada Legislature’s website.
Contact us at 1-800-242-0532 for assistance. A lawyer experienced in timeshare law can provide the representation you need to successfully deal with your timeshare.
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