Idaho Amends Timeshare Law; Adds Five-Day Rescission

2010-07-01

Issue Brief

In order to update its Subdivided Lands Disposition Act, which also regulates timeshare interests, the Idaho Real Estate Commission supported various amendments to the old law, including the addition of a five-calendar day rescission period for land and timeshare buyers.  The changes also expanded bonding requirements, beefed up enforcement procedures, and permitted use of ARELLO's Timeshare Registry.

Impact

ARDA reviewed the proposed changes and agreed that they were appropriate to modernize the law.

Resolution

The amendments were contained in S.B. 1251 which was enacted by the Idaho legislative without objection.  The new provisions took effect on July 1, 2010.  A full copy of the changes may be found here.

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