What You Need To Know About Timeshare Right To Cancel And Foreclosure Laws
By: Christopher J. Charles, Esq.
According to a September 2020 report by the American Resort Development Association, Arizona is home to 48 timeshare resorts representing 4,811 units. Arizona’s Timeshare Owners’ Association and Management Act governs timeshare transactions in the state, including foreclosures and a buyer’s right to cancel a purchase. Arizona law allows timeshare buyers to cancel a purchase contract up until midnight on the 7th calendar day following the date when the purchase agreement was signed. To cancel the contract, buyers must provide written notice to the seller at the seller’s address as indicated in the contract.
