Texas Property Code 221.041 – Purchaser’s Right to Cancel
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(a) A purchaser may cancel a purchase contract before the sixth day after the date the purchaser signs and receives a copy of the purchase contract or receives the required timeshare disclosure statement, whichever is later.
(b) A purchaser may not waive the right of cancellation under this section. A contract containing a waiver is voidable by the purchaser.
Terms Used In Texas Property Code 221.041
- Contract: A legal written agreement that becomes binding when signed.
- Purchaser: means any person, other than a developer, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare interest other than as a security for an obligation. See Texas Property Code 221.002
- Timeshare disclosure statement: means a written statement that includes the information required by § 221. See Texas Property Code 221.002