2014 Wisconsin Statutes & Annotations
707. Time-share ownership.
707.40 Applicability; exemptions.
707.40 Applicability; exemptions. This subchapter applies to all time shares subject to this chapter, except that ss. 707.41 to 707.45 and 707.48 do not apply to any of the following:
707.40(1) (1) The disposition of a time share in any of the following circumstances:
707.40(1)(a) (a) By gift.
707.40(1)(b) (b) By court order.
707.40(1)(c) (c) By a government or governmental agency.
707.40(1)(d) (d) By foreclosure or deed in lieu of foreclosure.
707.40(2) (2) The disposition of a time share if the purchaser may cancel at any time and for any reason without penalty.
707.40(3) (3) The disposition of a time share in a unit situated wholly outside this state under a contract executed wholly outside this state, if there has been no offering within this state.
707.40(4) (4) An offering by a developer of time shares in not more than one time-share unit at any one time.
707.40(5) (5) Disposition to one purchaser of a time-share property or all of the time shares in a time-share property.
707.40(6) (6) A transaction normal and customary in the hotel and motel business, including but not limited to acceptance of advance reservations, if the person engaging in the transaction operates or owns a motel or hotel substantially engaged in the business of accepting short-term, single reservation contracts with customers who obtain no associated long-term use rights.
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