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North Carolina 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.
North Carolina’s timeshare laws are controlled by the North Carolina Real Estate Commission through the North Carolina Real Estate Law, Article 4, Timeshares. In North Carolina, timeshares are judged as real estate and therefore some general real estate laws also apply as timeshare laws.
In North Carolina a purchaser has the right to cancel a timeshare contract within five calendar days of signing the contract. A clause must be included in the contract that describes this right. Any written or oral statements to counter this will be deemed unlawful under § 93A‑45 timeshare law. In North Carolina as in many states, this right cannot be waived. Upon receipt of the notice of cancellation, the developer must refund the purchaser immediately. The seller must also place all funds given by the purchaser for 10 days or until the timeshare contract is canceled, whichever occurs first.
North Carolina Timeshare Sale Law
§ 93A‑40: Under North Carolina’s real estate and timeshare laws, no person shall participate in the sale or offering of timeshares without a real estate broker license from the state. It is also unlawful for developer sales to take place without first registering the timeshare.
Timeshare Foreclosure in North Carolina
As timeshare is viewed as real estate in NC, the seller has a right to foreclosure on a delinquent mortgage. When the mortgage is signed it will include a clause that allows foreclosure on the timeshare in order to satisfy the loan.
Contact us at 1-800-242-0532 for assistance. A lawyer experienced in North Carolina timeshare law can provide the representation you need to successfully deal with your unique situation.
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