§ 32-32-3-7 — Cancellation of purchase

Indiana § 32-32-3-7

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 32: TIME SHARES AND CAMPING CLUBS

Text

(a) A purchaser has the right to cancel a
camping club membership or time share purchase within seventy-two
(72) hours after the execution of the sales contract, excluding Sundays
and legal holidays as set forth in IC 1-1-9-1. The right of cancellation
shall be set forth conspicuously in boldface type on the first page of any
time share instrument or camping club membership agreement and
immediately above the signature of the purchaser on any sales contract.
In each case, the cancellation clause must include an explanation of the
conditions and manner of exercise of the cancellation right. The right
of cancellation may not be waivable by any purchaser. The developer
shall furnish to each purchaser a form, as prescribed by the agency, for
the exercise of the right.
(b) To cancel a camping club membership or time share purchase,
a consumer must give notice of cancellation by mail or telegraphic
communication or as otherwise allowed by this subsection. The notice
is effective on the date postmarked or when transmitted from the place
of origin. Any written notice of cancellation delivered other than by
mail or telegraph is effective at the time of delivery at the place of
business of the developer or escrow agent designated in the form of
notice of cancellation.
[Pre-2002 Recodification Citation: 24-5-9-28.]

Legislative History

As added by P.L.2-2002, SEC.17.