Mississippi timeshare law is governed through the real estate commission. It is enumerated in Chapter 8 of the commissions created rules. Since the statute is originally put forth by the real estate commission it naturally has a focus on the creation and management of timeshare interest.
Mississippi law directly targets misleading information that can be given through advertisements for timeshares. It states that no advertisement should state that the timeshare will increase in price during the timeshare period. This distinction is important because timeshares are not assets, they are simply use contracts. While many salespeople try to sell them as an asset like a house, this is directly misleading and potentially illegal under Mississippi code. Miss Code R.§ 1601.8.11 (A)(2) (2019)
Rescission Period: 7 Days
Disclaimer: These summaries of law are intended only to serve as an information source for consumers. Statutes and laws are subject to constant change and the information listed above may not represent the most recent, or complete information. This does not constitute legal advice and a lawyer should always be contacted to provide you an analysis of your case. If you would like to have your case reviewed, please call us at (360)918-8196 for a free consultation