Timeshare Resale Contract
Timeshare Resale Contract
1. TERMS OF SALE
This Timeshare Resale Contract ("Contract") is entered into on [Effective Date] by and between [Your Name], with an address at [Your Company Address] ("Seller"), and [Buyer's Name], with an address at [Buyer's Address] ("Buyer").
2. PURCHASE PRICE AND PAYMENT TERMS
2.1 Total Purchase Price: The total purchase price for the timeshare is [Total Price].
2.2 Down Payment: The Buyer shall make a down payment of [Down Payment Amount] on [Date of Down Payment].
2.3 Balance Payment: The balance of the purchase price shall be payable on [Closing Date].
2.4 Payment Methods: Payments shall be made by [Payment Methods Accepted].
2.5 Currency: All payments shall be made in [Currency].
3. DESCRIPTION OF TIMESHARE
3.1 Property Address: The Seller hereby sells to the Buyer the rights to the timeshare located at [Property Address], including but not limited to [Unit Description].
3.2 Unit Description: The timeshare unit is described as follows:
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Unit Type: [Unit Type]
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Location: Located on the [Floor Number]
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Bedrooms: [Number of Bedrooms]
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Bathrooms: [Number of Bathrooms]
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Living Area: Spacious living area
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Kitchen: Fully equipped kitchen
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Balcony/Patio: Private balcony/patio overlooking [View]
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Unit Size: Approximately [Total Square Footage] square feet/meters
4. REPRESENTATIONS AND WARRANTIES
4.1 Condition of Property: The Seller represents that the timeshare unit and its furnishings are in good condition, free from any defects or damages beyond normal wear and tear.
4.2 Access and Use: The Buyer shall have the right to access and use all common areas and facilities associated with the timeshare property, subject to the rules and regulations of the timeshare association.
5. RESTRICTIONS
5.1 Usage Restrictions: The Buyer's usage of the timeshare is subject to the following restrictions:
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The Buyer may not sublet or assign the timeshare to third parties without the Seller's prior written consent.
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The Buyer may not use the timeshare for any illegal or commercial purposes.
6. CONTINGENCIES
6.1 Changes to Reservation: The Buyer may request changes to a reservation, subject to availability and the timeshare management company's policies.
6.2 Unused Usage Time: Any unused usage time at the end of the Usage Time Period shall be forfeited and may not be carried over to subsequent periods, unless otherwise agreed upon in writing by both parties.
7. GOVERNING LAW
7.1 Governing Law: This Contract shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of law principles.
7.2 Jurisdiction: Any legal action or proceeding arising out of or relating to this Contract shall be brought exclusively in the courts of the State of [State] or in the United States District Court for the District of [District], and each party irrevocably submits to the jurisdiction and venue of such courts in any such action or proceeding.
8. DISPUTE RESOLUTION
8.1 Negotiation: In the event of any dispute arising out of or relating to this Contract, the parties agree to first attempt to resolve the dispute by negotiation between senior executives of the parties who have authority to settle the dispute.
8.2 Mediation: If the dispute is not resolved through negotiation within [Negotiation Period] days of the initial meeting, the parties agree to submit the dispute to non-binding mediation conducted by a mutually acceptable mediator in [City], [State].
8.3 Arbitration: If the dispute is not resolved through mediation, or if mediation is not pursued, the parties agree to submit the dispute to binding arbitration in accordance with the rules of the American Arbitration Association, to be conducted in [City], [State].
8.4 Enforcement: The arbitration award shall be final and binding upon the parties, and judgment upon the award may be entered in any court having jurisdiction thereof.
9. INDEMNIFICATION
9.1 Indemnification: The Seller agrees to indemnify, defend, and hold harmless the Buyer from and against any and all claims, damages, liabilities, costs, and expenses (including reasonable attorneys' fees) arising out of or relating to any breach of this Contract by the Seller.
9.2 Notice: The Buyer agrees to promptly notify the Seller in writing of any claim, suit, or proceeding for which indemnification is sought.
9.3 Defense: The Seller shall have the right to assume the defense of any such claim, suit, or proceeding at its own expense, and the Buyer shall cooperate with the Seller in the defense of such claim, suit, or proceeding.
10. TERMINATION
10.1 Breach of Contract: If either party breaches any provision of this Contract, the non-breaching party may terminate this Contract.
10.2 Notice of Termination: The non-breaching party shall provide written notice of the breach to the breaching party, specifying the nature of the breach and a cure period of [Cure Period] days.
10.3 Cure Period: The breaching party shall have [Cure Period] days from receipt of the notice of breach to cure the breach. If the breach is not cured within the cure period, the non-breaching party may terminate this Contract.
10.4 Effect of Termination: Upon termination of this Contract, all rights and obligations of the parties shall cease, except for those provisions that by their nature survive termination, including but not limited to indemnification, governing law, and dispute resolution.
11. ENTIRE AGREEMENT
11.1 Entire Agreement: This Contract constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, negotiations, representations, and understandings, whether oral or written, relating to the subject matter of this Contract.
11.2 No Other Representations: Each party acknowledges that, in entering into this Contract, it has not relied on, and shall have no right or remedy in respect of, any statement, representation, assurance, or warranty (whether made negligently or innocently) other than as expressly set out in this Contract.
11.3 Amendments: No amendment or variation of this Contract shall be valid unless it is in writing and signed by or on behalf of each of the parties.
11.4 Waiver: No failure or delay by either party in exercising any right, power, or privilege under this Contract shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power, or privilege.
11.5 Severability: If any provision of this Contract is held to be invalid, illegal, or unenforceable under applicable law, such provision shall be deemed modified to the minimum extent necessary to make it valid, legal, and enforceable, and the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired.
12. MODIFICATIONS AND AMENDMENTS
Any modifications or amendments to this Contract must be made in writing and signed by both parties.
IN WITNESS WHEREOF, the parties have executed this Timeshare Resale Contract as of the Effective Date.
Seller: [Your Name]
[Date Signed]
Buyer: [Buyer's Name]
[Date Signed]
