(a) This subchapter applies to a timeshare interest if the timeshare interest has been acquired only for the purchaser‘s personal, family, or household use and:
(1) the timeshare interest is owned by a resident of this state;
(2) the timeshare property is located in this state; or
(3) the timeshare interest acquired is in a multisite timeshare plan required to be registered under Subchapter C.
(b) Except as provided by Subsection (c), this subchapter applies to a person who:
(1) is acting in the ordinary course of business; and
(2) directly or indirectly, regardless of whether acting in person, by mail, by telephone, or by any mode of Internet or electronic communication, offers or advertises an offer to engage in, for consideration, the following activities:
(A) obtaining or attempting to obtain on behalf of a timeshare interest owner a termination of contractual obligations relating to a timeshare interest;
(B) selling, renting, listing, or advertising a timeshare interest on behalf of a timeshare interest owner;
(C) purchasing a timeshare interest from a timeshare interest owner; or
(D) assisting in the transfer of an owner’s timeshare interest.

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Terms Used In Texas Property Code 221.102

  • Association: means a council or association composed of all persons who have purchased a timeshare interest. See Texas Property Code 221.002
  • Developer: means :
    (A) any person, excluding a sales agent, who creates a timeshare plan or is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests; or
    (B) any person who succeeds in the developer's interest by sale, lease, assignment, mortgage, or other transfer if the person:
    (i) offers at least 12 timeshare interests in a particular timeshare plan; and
    (ii) is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests. See Texas Property Code 221.002
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Managing entity: means the person responsible for operating and maintaining a timeshare property. See Texas Property Code 221.002
  • Multisite timeshare plan: means a plan in which a timeshare purchaser has:
    (A) a specific timeshare interest, which is the right to use and occupy accommodations at a specific timeshare property and the right to use and occupy accommodations at one or more other component sites created by or acquired solely through the reservation system of the timeshare plan; or
    (B) a nonspecific timeshare interest, which is the right to use and occupy accommodations at more than one component site created by or acquired solely through the reservation system of the timeshare plan but which does not include a right to use and occupy a particular accommodation. See Texas Property Code 221.002
  • offer: means any advertisement, inducement, or solicitation and includes any attempt to encourage a person to purchase a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Timeshare interest: means a timeshare estate or timeshare use. See Texas Property Code 221.002
  • Timeshare property: means :
    (A) one or more accommodations and any related amenities subject to the same timeshare instrument; and
    (B) any other property or property rights appurtenant to the accommodations and amenities. See Texas Property Code 221.002

(c) This subchapter does not apply to:
(1) a license holder under Chapter 1101, Occupations Code, acting as a broker, agent, or salesperson under that person’s license in connection with the transfer or termination of a timeshare interest;
(2) a developer, association, or managing entity for a timeshare interest to be transferred or terminated or a third party acting at the specific request of the developer, association, or managing entity; or
(3) an attorney, title agent, title company, or escrow company that:
(A) provides only closing, settlement, or other comparable transaction services in connection with the transfer or termination of a timeshare interest; and
(B) does not otherwise engage in activities described by Subsection (b).