Washington Code 64.36.110 – Requirements of transfer of promoter’s interest — Notice to purchaser
Current as of: 2023 | Check for updates
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A promoter shall not sell, lease, assign, or otherwise transfer the promoter’s interest in the timeshare program unless the transferee agrees in writing to honor the timeshare purchaser‘s right to use and occupy the timeshare unit, honor the purchaser’s right to cancel, and comply with this chapter. In the event of a transfer, each timeshare purchaser whose contract may be affected shall be given written notice of the transfer when the transfer is made.
Terms Used In Washington Code 64.36.110
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Promoter: means any person directly or indirectly instrumental in organizing, wholly or in part, a timeshare offering. See Washington Code 64.36.010
- Purchaser: means any person, other than a promoter, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare, other than as security for an obligation. See Washington Code 64.36.010
- sell: includes every contract of sale of, contract to sell, or disposition of, a timeshare for value. See Washington Code 64.36.010
- Timeshare: means a right to occupy a unit or any of several units during three or more separate time periods over a period of at least three years, including renewal options, whether or not coupled with an estate in land. See Washington Code 64.36.010
- Unit: means the real or personal property, or portion thereof, in which the timeshare exists and which is designated for separate use. See Washington Code 64.36.010