Tex. Prop. Code Section 221.107
Required Notice for Termination Services

A person subject to this subchapter who enters into an agreement with a timeshare interest owner to facilitate the termination of the timeshare interest must provide to the timeshare interest owner a statement printed in 14-point boldface type or 14-point uppercase typewritten letters that reads substantially similar to the following:
I (name of the person facilitating the termination of the timeshare interest) WILL ACT IN GOOD FAITH AND IN A COMMERCIALLY REASONABLE MANNER TO COMPLETE THE TERMINATION OF YOUR TIMESHARE INTEREST NOT LATER THAN THE 180TH DAY AFTER THE DATE OF THIS AGREEMENT BY OBTAINING:

(1)

A VALID AND ENFORCEABLE RELEASE FROM THE DEVELOPER, ASSOCIATION, OR MANAGING ENTITY; OR

(2)

A JUDGMENT OR COURT ORDER INVALIDATING THE PURCHASE OR OWNERSHIP OF YOUR TIMESHARE INTEREST.
YOUR OBLIGATION TO PAY ALL COSTS AND FEES ASSOCIATED WITH YOUR TIMESHARE INTEREST, INCLUDING ANY REGULAR OR SPECIAL ASSESSMENTS OR REAL OR PERSONAL PROPERTY TAXES, DOES NOT CEASE BY VIRTUE OF THE EXECUTION OF THIS AGREEMENT.
I CANNOT GUARANTEE THAT I WILL SUCCESSFULLY COMPLETE THE TERMINATION OF YOUR TIMESHARE INTEREST. IF I FAIL TO COMPLETE THE TERMINATION OF YOUR TIMESHARE INTEREST, YOU WILL CONTINUE TO BE RESPONSIBLE FOR THE PAYMENT OF ALL COSTS AND FEES ASSOCIATED WITH YOUR TIMESHARE INTEREST, INCLUDING ANY REGULAR OR SPECIAL ASSESSMENTS OR REAL OR PERSONAL PROPERTY TAXES.
Added by Acts 2015, 84th Leg., R.S., Ch. 554 (H.B. 2261), Sec. 2, eff. September 1, 2015.

Source: Section 221.107 — Required Notice for Termination Services, https://statutes.­capitol.­texas.­gov/Docs/PR/htm/PR.­221.­htm#221.­107 (accessed Jun. 5, 2024).

221.001
Short Title 221.002
Definitions 221.003
Applicability 221.004
Conflicts of Law 221.011
Declaration 221.012
Conveyance and Encumbrance 221.013
Common Ownership 221.014
Partition 221.021
Registration Required 221.022
Application for Registration 221.023
Amendment of Registration 221.024
Powers of Commission 221.025
Effect of Registration on Other Laws: Exemption from Certain Laws 221.026
Issuance and Renewal of Registration 221.027
Temporary Suspension 221.028
Denial of Registration Renewal 221.031
Advertisements and Promotions 221.032
Timeshare Disclosure Statement 221.033
Exchange Disclosure Statement 221.034
Exempt Offerings and Dispositions 221.035
Supervisory Duties of Developer 221.036
Developer Preparation and Completion of Documents 221.037
Alternative Terminology or Name 221.041
Purchaser’s Right to Cancel 221.042
Notice 221.043
Contract Requirements 221.051
Operation Requirement 221.052
Liability of Developer and Exchange Company 221.053
Exchange Company Liability 221.061
Escrow or Trust Account Required 221.062
Release of Escrow 221.063
Alternative to Escrow or Trust Account: Financial Assurance 221.064
Documentation Required 221.071
Deceptive Trade Practices 221.072
Insurance 221.073
Penalty 221.074
Annual Timeshare Fee and Expense Statement 221.075
Civil Penalty for Late Statement 221.076
Managing Entities that Manage More than One Timeshare Property 221.077
Availability of Books and Records 221.081
Applicability 221.082
Powers and Limitations of Board 221.083
Period of Developer Control 221.084
Election of Initial Board Members and Officers 221.085
Removal of Board Members 221.086
Quorum 221.087
Votes 221.088
Open Meetings 221.089
Notice 221.090
Duties 221.101
Transfer or Termination of Timeshare Interest 221.102
Applicability 221.103
General Disclosures Required 221.104
Disclosure of Authorized Use of Timeshare Interest 221.105
Disclosures Relating to Payment of Fees for Transfer Services 221.106
Required Notice for Transfer Services 221.107
Required Notice for Termination Services 221.108
Reliance 221.109
Duty of Good Faith Regarding Transfer or Termination Services 221.110
Deceptive Trade Practices 221.111
Supervisory Duties 221.0245
Complaint Investigation
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 221.107’s source at texas​.gov