Sec. 221.101. TRANSFER OR TERMINATION OF TIMESHARE INTEREST. In this subchapter:
(1) "Termination" with respect to a timeshare interest:
(A) means:
(i) the release of contractual obligations relating to a timeshare interest by the developer, association, or managing entity; or
(ii) the invalidation, cancellation, nullification, or cessation of contractual obligations related to a timeshare interest by a judgment or court order; and
(B) does not include the cancellation of a purchase contract governed by Subchapter E.
(2) "Transfer" with respect to a timeshare interest means the conveyance of all or substantially all of a timeshare interest.
Added by Acts 2015, 84th Leg., R.S., Ch. 554 (H.B. 2261), Sec. 2, eff. September 1, 2015.
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