This time sharing agreement template has 4 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our time sharing agreement template:
TIME SHARING AGREEMENT This Time Sharing Agreement (the "Agreement") is effective [DATE], BETWEEN: [OWNER NAME] (the "Owner"), an individual with their main address located at: [COMPLETE ADDRESS] AND: [GUEST NAME] (the "Guest"), an individual with their main address located at: [COMPLETE ADDRESS] Collectively, the Owner and Guest shall be referred to as the "Parties." WHEREAS, the Owner is in the business of marketing and selling timeshare (the "timeshare") of its property (the "Property") located at [LOCATION OF PROPERTY]; WHEREAS, the Guest desires to purchase the timeshare of the property for the purpose of [SPECIFY PURPOSE]. NOW, THEREFORE, the Parties agree as follows: TIMESHARE OF PROPERTY "Timeshare" shall mean any form of ownership providing a right to use and occupy a room, apartment, villa, cottage or the like for a specified interval each year, either fixed or varied as to date and place, whether or not such ownership is in fee simple, for a fixed term of years or number of uses. "Timeshare unit" shall mean the physical space dedicated to timeshare ownership. The Owner agrees to sell the timeshare of its property to the Guest from [SPECIFY THE DATE] to [SPECIFY THE DATE]. Property Description. [SPECIFY THE DESCRIPTION OF PROPERTY] FEES The Owner agrees to sell, and the Guest agrees to buy the timeshare unit described in clause 1.4, the allocated undivided interest in the common elements, the use of all furniture and personal property in the timeshare unit, and the right to use and occupy the timeshare unit during the specified dates described in clause 1.3. The Guest agrees to pay the Owner the amount of [SPECIFY THE AMOUNT] for the timeshare of the property. A deposit equal to [SPECIFY THE DEPOSIT] (the "Deposit") shall be due at the signing of this Agreement and shall be delivered and made payable to the Owner. TERM The Agreement shall begin as of the date of this Agreement and shall be in effect until terminated by mutual consent expressed in writing, signed by both Parties. TRANSFER OF DOCUMENTS, TITLE The Owner will transfer ownership of the property for the timeshare and all related rights by a warranty deed in proper form for recording or such other document or documents as necessary to transfer the Owner's full rights of ownership to the Guest. LANGUAGE OF THE AGREEMENT The language of the Agreement shall be the English Language, which shall be the binding and controlling language for all matters relating to the meaning or interpretation of the Agreement. SEVERABILITY If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the Parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable, and the remainder of the provisions of this Agreement shall in no way be affected, impaired or invalidated as a result. WARRANTIES The Guest hereby warrants that the Guest will use the property for and on account of his own leisure or pleasure only and will not use the property for the purposes of business. ESCROW All deposits and additional funds shall be held in escrow in a non-interest bearing account until documents are transferred. At transfer, all escrow funds are to be released to the Owner. The Escrow Agent will not be liable for any omission or commission, only wilful acts contrary to this Agreement. MODIFICATIONS Except where provision for modification is made elsewhere in this Agreement, all articles of this Agreement may be modified through amendments to the Agreement. NOTICES
