Washington Code 64.36.010 – Definitions
Current as of: 2023 | Check for updates
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As used in this chapter, the following terms have the meanings indicated unless the context clearly requires otherwise.
Terms Used In Washington Code 64.36.010
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Director: means the director of licensing. See Washington Code 64.36.010
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Offer: means any inducement, solicitation, or attempt to encourage any person to acquire a timeshare. See Washington Code 64.36.010
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a natural person, corporation, business trust, estate, trust, partnership, association, joint venture, or other legal or commercial entity. See Washington Code 64.36.010
- Personal property: All property that is not real property.
- Promoter: means any person directly or indirectly instrumental in organizing, wholly or in part, a timeshare offering. See Washington Code 64.36.010
- sell: includes every contract of sale of, contract to sell, or disposition of, a timeshare for value. See Washington Code 64.36.010
- Timeshare: means a right to occupy a unit or any of several units during three or more separate time periods over a period of at least three years, including renewal options, whether or not coupled with an estate in land. See Washington Code 64.36.010
- Timeshare owner: means a person who is an owner or co-owner of a timeshare. See Washington Code 64.36.010
- Unit: means the real or personal property, or portion thereof, in which the timeshare exists and which is designated for separate use. See Washington Code 64.36.010
(1) “Advertisement” means any written, printed, audio, or visual communication which is published in whole or part to sell, offer to sell, or solicit an offer for a timeshare.
(2) “Affiliate of a promoter” means any person who controls, is controlled by, or is under the control of a promoter.
(3) “Commercial promotional programs” mean packaging or putting together advertising or promotional materials involving promises of gifts, prizes, awards, or other items of value to solicit prospective purchasers to purchase a product or commodity.
(4) “Director” means the director of licensing.
(5) “Interval” means that period of time when a timeshare owner is entitled to the possession and use of the timeshare unit.
(6) “Offer” means any inducement, solicitation, or attempt to encourage any person to acquire a timeshare.
(7) “Person” means a natural person, corporation, business trust, estate, trust, partnership, association, joint venture, or other legal or commercial entity.
(8) “Promoter” means any person directly or indirectly instrumental in organizing, wholly or in part, a timeshare offering.
(9) “Purchaser” means any person, other than a promoter, who by means of a voluntary transfer acquires a legal or equitable interest in a timeshare, other than as security for an obligation.
(10) “Sale” or “sell” includes every contract of sale of, contract to sell, or disposition of, a timeshare for value.
(11) “Timeshare” means a right to occupy a unit or any of several units during three or more separate time periods over a period of at least three years, including renewal options, whether or not coupled with an estate in land.
(12) “Timeshare expenses” means expenditures, fees, charges, or liabilities: (a) Incurred with respect to the timeshares by or on behalf of all timeshare owners in one timeshare property; and (b) imposed on the timeshare units by the entity governing a project of which the timeshare property is a part, together with any allocations to reserves but excluding purchase money payable for timeshares.
(13) “Timeshare instrument” means one or more documents, by whatever name denominated, creating or regulating timeshares.
(14) “Timeshare owner” means a person who is an owner or co-owner of a timeshare. If title to a timeshare is held in trust, “timeshare owner” means the beneficiary of the trust.
(15) “Timeshare salesperson” means any natural person who offers a timeshare unit for sale.
(16) “Unit” means the real or personal property, or portion thereof, in which the timeshare exists and which is designated for separate use.