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What is the resicission period for a timeshare in Tennessee?
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RULES OF TENNESSEE REAL ESTATE COMMISSION
Chapter 1260-6 TIME-SHARE PROGRAMS
Rule 1260.-6-.04 DISCLOSURE OF RESCISSION RIGHTS. The following statement shall appear in boldface and conspicuous type in:
(a) Every public offering statement; and
(b) Every contract for the sale of a time-share interval,immediately above the space reserved for the signature of thepurchaser.
"You May Cancel A Contract To Purchase A Time-Share Interval Within Ten (10) Days From The Date Of The Contract, Where You Have Made An On-Site Inspection Of The Time-share Project Before Signing The Contract, And, If You Have Not Made Such An Inspection, Within Fifteen (15) Days From The Date Of The Contract. If You Elect To Cancel, You May Do So By Hand Delivering Notice To The Seller Within The Designated Period, Or By Mailing Notice To The Seller (Or His Agent For Service Of Process) By Prepaid United States Mail Postmarked Anytime Within The Designated Period." -
I omitted that you should follow the contract language for specifics in how it needs to be cancelled.Comment
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