707.40 Applicability; exemptions.

158 words·~1 min read·/wi/chapter-707/707-40

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

707.40 Applicability; exemptions. This subchapter applies to all time shares subject to this chapter, except that ss. 707.41 to 707.45 and 707.48 do not apply to any of the following:

(1)The disposition of a time share in any of the following circumstances:

(a)By gift.

(b)By court order.

(c)By a government or governmental agency.

(d)By foreclosure or deed in lieu of foreclosure.

(2)The disposition of a time share if the purchaser may cancel at any time and for any reason without penalty.

(3)The disposition of a time share in a unit situated wholly outside this state under a contract executed wholly outside this state, if there has been no offering within this state.

(4)An offering by a developer of time shares in not more than one time-share unit at any one time.

(5)Disposition to one purchaser of a time-share property or all of the time shares in a time-share property.