TisBit
DIS Veteran
- Joined
- Dec 31, 2007
- Messages
- 2,411
Does anyone? Found this site on Hawaii TS laws. Who can figure out this gibberish, other than a real estate lawyer? How could anyone legally get to the point of selling TSs, and comply with all these restrictions? Especially confounding is chapter 514E-11. And what is that squiggly thing in front of the 514E?
hawaii.gov/dcca/pvl/hrs/hrs_pvl_514e.pdf
The squigly line is for a section of the law. So timeshares are governed by Section 514 of State of Hawaiin Law (not sure how they break theirs down, but in Maryland it would be Annotated Code of Maryland Section 514)
514E11 Paragraph 8 is the only one that I could see really being an issue with DVC.
I know at Pasadena they were accepting deposits without having signed contracts/agreements. But, I think this is more applicable to Hawaii sales presentations and most likely not enforceable in another state. Usually, it is the law of the state the sale is happening that takes presendence, unless otherwise annotated. And this would not hold up sales, they would just need to cease and desist and face the consequences for the already sold contracts. Still believe this is more of a legal issue that is more than just a bad practice (as in POS needs to be rewritten, etc)(8)
Receive from any prospective purchaser any money, property (including but not limited to a credit card), or other valuable consideration prior to signing a contract or reservation agreement for the purchase of a time share plan or unit; provided that this paragraph shall not apply to sums paid by a purchaser or prospective purchaser for a tourist activity or for any other product or service offered to induce attendance at a time share sales presentation;