Texas Property Code 221.108 – Reliance
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Terms Used In Texas Property Code 221.108
- Association: means a council or association composed of all persons who have purchased a timeshare interest. See Texas Property Code 221.002
- Developer: means :
(A) any person, excluding a sales agent, who creates a timeshare plan or is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests; or
(B) any person who succeeds in the developer's interest by sale, lease, assignment, mortgage, or other transfer if the person:
(i) offers at least 12 timeshare interests in a particular timeshare plan; and
(ii) is in the business of selling timeshare interests or employs a sales agent to sell timeshare interests. See Texas Property Code 221.002 - Managing entity: means the person responsible for operating and maintaining a timeshare property. See Texas Property Code 221.002
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Timeshare interest: means a timeshare estate or timeshare use. See Texas Property Code 221.002
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
In making disclosures required by this subchapter, a person facilitating the transfer or termination of a timeshare interest may rely on written information provided by the timeshare interest owner, the developer, the association, or the managing entity.