Hawaii Revised Statutes 514E-8 – Mutual right to cancel
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Terms Used In Hawaii Revised Statutes 514E-8
- Contract: A legal written agreement that becomes binding when signed.
- Purchaser: means any person who has contracted to acquire a time share interest. See Hawaii Revised Statutes 514E-1
- Time share plan: means any plan or program in which the use, occupancy, or possession of one or more time share units circulates among various persons for less than a sixty-day period in any year, for any occupant. See Hawaii Revised Statutes 514E-1
Within seven calendar days after the execution of the contract to purchase an interest in a time share plan, or within seven calendar days after the purchaser‘s receipt of a disclosure statement required by this chapter, whichever occurs later, either party may cancel the contract without penalty by mailing or delivering a notice of cancellation to the other party at an address specified on the contract. The notice of cancellation shall be effective upon mailing or delivery to the other party at the address specified on the contract.