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Vermont 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.
That State of Vermont does not have specific timeshare laws. However, some legislation is provided by the state condominium ownership act section of the Vermont Statutes, Title 27, Chapter 15. Additional fair trade practices are regulated by the consumer protection laws through Title 9, Commerce and Trade.
The Right of Rescission in Vermont
Under § 2454, a purchaser has the right to cancel a timeshare contract up to three business days after the contract is signed. The sell must include the right to cancel in a disclosure statement within the contact. A notice of timeshare cancellation can be given to the seller either in person of through mail. Reimbursement must be paid to the purchaser within 10 days of the notice.
Timeshare Foreclosure in Vermont
Under Vermont § 4936 a seller or managing entity holds the right to foreclose upon a mortgage or delinquent lien. In addition to judicial and non-judicial foreclosure, Vermont also has a strict foreclosure law which essentially states that the seller owns the rights to the property until the purchaser has paid the mortgage in full. If the purchaser is to violate the terms of the mortgage, the seller holds the right to file a suit against the purchaser.
Click here for more information about timeshares and foreclosures in Vermont.
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