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Wyoming 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.
Wyoming has not promulgated specific timeshare laws. Therefore, timeshare regulation is enforced through the general state statutes for condominiums, consumer protection, and foreclosure laws.
Wyoming Timeshare Foreclosure
The state of Wyoming facilitates both judicial and non-judicial foreclosure upon mortgages and delinquent liens. Under Title 34, Chapter 4 of Wyoming State Statutes, the lender may use a “power of sale” clause within the contract or foreclosure notice to initiate a non-judicial foreclosure. In this circumstance the purchaser agrees the right to sell the mortgaged asset in order to pay the remaining debt, should they be unable to do so. The purchaser will be notified of the foreclosure and has about three months to counteract the sale.
Timeshare Resale Cancelation
Under Wyoming state statute 40-12-104, if a timeshare sales transaction takes place through a telephone solicitation, this purchase falls under home solicitation sales. This gives the buyer the right to cancel a timeshare transaction within 10 days after the contract is signed. This right of rescission must be explained in the contract and all payments must be refunded.
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