Sec. 221.011. DECLARATION. (a) The developer of a timeshare plan any part of which is located in this state must record the timeshare instrument in this state. When a person expressly declares an intent to subject the property to a timeshare plan through the recordation of a timeshare instrument that sets forth the information provided in Subsection (b), that property shall be established thenceforth as a timeshare plan.
(b) The declaration made in a timeshare instrument recorded under this section must include:
(1) a legal description of the timeshare property, including a ground plan indicating the location of each existing or proposed building included in the timeshare plan;
(2) a description of each existing or proposed accommodation, including the location and square footage of each unit and an interior floor plan of each existing or proposed building;
(3) a description of any amenities furnished or to be furnished to the purchaser;
(4) a statement of the fractional or percentage part that each timeshare interest bears to the entire timeshare plan;
(5) if applicable, a statement that the timeshare property is part of a multisite timeshare plan;
(6) any additional provisions that are consistent with this section; and
(7) the provisions required by Subchapter I to be included in a project instrument unless the provisions are included in one or more other project instruments.
(c) Any timeshare interest created under this section is subject to Section 1101.002(5), Occupations Code, but Sections 1101.351(a)(1) and (c), Occupations Code, do not apply to the acts of an exchange company in exchanging timeshare periods.
Added by Acts 1987, 70th Leg., ch. 167, Sec. 6.03, eff. Sept. 1, 1987. Renumbered from Sec. 201.011 by Acts 1989, 71st Leg., ch. 2, Sec. 13.03(b), eff. Aug. 28, 1989. Amended by Acts 1993, 73rd Leg., ch. 443, Sec. 2, eff. Sept. 1, 1993; Acts 2003, 78th Leg., ch. 1276, Sec. 14A.809, eff. Sept. 1, 2003.
Amended by:
Acts 2005, 79th Leg., Ch. 539 (H.B. 1045), Sec. 3, eff. January 15, 2006.
Acts 2013, 83rd Leg., R.S., Ch. 1352 (S.B. 1372), Sec. 6, eff. September 1, 2013.
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