Section 221.103 - General Disclosures Required A person subject to this subchapter who enters into an agreement with a timeshare interest owner to facilitate the transfer or termination of a timeshare interest shall provide to the timeshare interest owner, before the third day before the date the timeshare interest owner enters into the agreement the following written disclosures, as applicable:
(1) the name, telephone number, and physical address of the person providing services under the agreement and any affiliate, agent, or third-party representative of that person;(2) if the person identified in Subdivision (1), or an affiliate, agent, or third-party representative of that person providing services under the agreement, is an attorney licensed to practice law in this state, a disclosure of whether the attorney will be providing services under the agreement and representing the timeshare interest owner in connection with the transfer or termination of the timeshare interest;(3) a description, legally sufficient for identification, of the timeshare interest to be transferred or terminated;(4) a description of the method of transfer or termination or a copy of the instrument that will be used for transferring or terminating the timeshare interest;(5) a description of any interest the timeshare interest owner retains after the transfer;(6) a description of the scope of a power of attorney or other delegation of authority, if any, that the timeshare interest owner is required to give to complete the transfer of the timeshare interest;(7) an itemized statement of any amounts the timeshare owner is required to pay as consideration or reimbursement for services provided in connection with the agreement;(8) the name of each recipient of amounts described by Subdivision (7);(9) the estimated date for completing all services sufficient to transfer or terminate the timeshare interest; and(10) a statement that, on completion of the transfer or termination of the timeshare interest, the person will give written notice of the transfer or termination to:(A) the developer, association, or managing entity, as applicable; and(B) if applicable, the exchange company for the timeshare interest.Tex. Prop. Code § 221.103
Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 554,Sec. 2, eff. 9/1/2015.