Time Sharing Agreement - Download Free 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:

TIME

SHARE 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

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

The Guest agrees to pay the

wner 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

wner.

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

arties.

TRANSFER

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 O

wner

's full rights of ownership to

the

Guest

LANGU

GE 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 u

nenforceable, it is the

Parties

’

intent that such provision be reduc

ed 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

greement.

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

Any notices or delivery required here shall be deemed completed when hand-delivered, delivered by agent, or seven (7) days after being placed in the post,

postage prepaid, to the

Parties

at the addresses contained in this

Agreement

or as the

Parties

may later designate in writing at the

address provided by the

Parties

FORCE MAJEURE

For purposes of this

ection, "force majeure" means an event beyond the control of either

Party

, which by its nature could not have been foreseen by such

arty

, or, if it could have been foreseen, was unavoidable, and includes without limitation, acts of God, storms, floods, riots, fires, sabotage, civil commotion or civil unrest, interference by civil or military authorities, acts of war (declared or undeclared) and failure of energy sources.

either

arty

shall be under any liability for failure to fulfill any obligation under this

Agreement

, so long as and to the extent to which the fulfillment of such obligation is prevented, frustrated, hindered, or delayed as a consequence of circumstances of force majeure

provided that such

arty

shall have exercised all due diligence to minimize to the greatest extent possible the effect of force majeure on its obligations hereunder.

ASSIGNMENT

The

Guest

shall not assign

any interest in this

greement

without

the

prior written consent of the

Owner

, which consent shall not be unreasonably withheld. Any assignment without

the

Owner

's written

prior consent shall, at

the

Owner

's option, terminate this

Agreement

TERMINATION

The

Termination. The present

Agreement

shall be automatically terminated at the expiration of the period

the present

Agreement

unless the

Agreement

is renewed at the end of the mentioned term.

However, both the

Parties

shall have the right to terminate the present

Agreement

by providing each other with a prior written notice of 30 days.

GOVERNING LAW AND JURISDICTION

This

Agreement

shall be construed and enforced in accordance with the laws of

[STATE/PROVINCE].

The

Parties

submit to the jurisdiction of the courts of

[STATE/PROVINCE]

for the enforcement of this

Agreement

or any arbitration award or decision arising from this

Agreement

MEDIATION AND ARBITRATION

In the event a dispute arises out of or in connection w

ith this

Agreement

, the

Parties

shall attempt to resolve the dispute through friendly consultation.

If the dispute is not resolved within a period of [

NUMBER OF

DAYS] days

then any or all outstanding issues may be submitted to mediation in accordance with any statutory rules of mediation. If mediation is not successful in resolving the entire dispute or is unavailable, any outstanding issues shall be submitted to final and binding arbitration in accordance with the laws of

[STATE/PROVINCE]

The arbitrator's award shall be final, and judgment may be entered upon it by any court having jurisdiction within

[STATE/PROVINCE].

INDEMNIFICATION

Parties

shall be indemnified and held harmless by

the

other

arty

from and against any and all claims of any nature wh

atsoever, arising out of

the

other

Party

performance.

Party

shall not be entitled to indemnification under this section for liability arising out of gross negligence or

wilful

misconduct of the

Party

or the breach by the

Party

of any provisions of this

Agreement

ENTIRE AGREEMENT

This

Agreement

contains the entir

Agreement

between the

Parties

. All negotiations and understandings have been included in this

Agreement

. Statements or representations which m

ay have been made by any

arty

to this

Agreement

in the negotiation stages of this

Agreement

may in some way be inconsistent with this final written

Agreement

. All such statements are declared to be of no value in this

Agreement

. Only the written terms of this

Agreement

shall bind the

Parties

IN WITNESS WHEREOF, the Parties have executed this Agreement on [DATE].

OWNER GUEST

Authorized Signature Authorized Signature

Print Name and Title Print Name and Title

Time Sharing Agreement - Download Free Template Time Sharing Agreement - Download Free Template

Time Sharing Agreement - Download Free Template