In force Last amended 5/2/1442 AH
Saudi Timesharing in Tourist Real Estate Units Law
نظام المشاركة بالوقت فى الوحدات العقارية السياحية
Regulates timeshare arrangements in tourist real estate units in Saudi Arabia. It has 12 articles and concerns developers, sellers and those who buy or use timeshare rights.
- Articles
- 12
- In force
- 12
- Amended
- 6
- Issued
- 20/8/1427 AH
Issued by: مرسوم ملكي رقم م/52 بتاريخ 20 / 8 / 1427 · قرار مجلس الوزراء رقم 206 بتاريخ 18 / 8 / 1427
Each article shows the official Arabic text, which is the only legally binding version, followed by our plain-English explanation.
Browse Timesharing in Tourist Real Estate Units Law by topic
Articles of the Saudi Timesharing in Tourist Real Estate Units Law
- Article 1The article defines the key terms of the Timesharing Law, such as tourist real estate units, timesharing and its contract, the property, the seller, the buyer and credit.
- Article 2The article prohibits carrying on the timesharing activity or marketing it before obtaining a license, and requires advertisements to include the license number and a statement of whether and where the information document can be obtained.
- Article 3The article sets the timesharing seller's obligations: providing a complete and accurate information document and having it approved, reporting any change, enabling the buyer to exercise his rights, and managing and maintaining the property.
- Article 4The article sets the scope of the Law over timesharing contracts, requires the contract to be in writing in Arabic with the details in the Regulations, and bars non-Saudis from the activity and from acquiring rights in Makkah and Madinah other than by inheritance.Amended
- Article 51- دون إخلال بأي حق يكتسبه المشتري بموجب الأنظمة فيما يتعلق ببطلان العقود، فإن للمشتري الخيار في الآتي: أ - الانسحاب من عقد المشاركة…Amended
- Article 6The article bars requiring any advance payment from a timesharing buyer before the end of the period in which he may withdraw from or cancel the contract.
- Article 7The article provides that a buyer's withdrawal from or cancellation of a timesharing contract under Article 5 counts as cancellation of the credit agreement that financed the contract's value, with no obligation on him.
- Article 8The article makes void any waiver by the buyer to the seller of his rights guaranteed by the Timesharing Law, and any release of the seller from his obligations under it.
- Article 9يتولى موظفون –يصدر بتعيينهم قرار من أمين عام الهيئة– متابعة أداء المرخص لهم بممارسة هذا النشاط، والتحقق من استيفاء الشروط والضوابط، ولهم…Amended M/17
- Article 10The article creates one or more committees to hear violations of the Timesharing Law and impose penalties, allows grievances against their decisions before the Board of Grievances within 60 days, and preserves the injured person's right to compensation.
- Article 11مع عدم الإخلال بأي عقوبة أشد منصوص عليها في نظام آخر، ودون المساس بحقوق الغير: 1- يعاقب كل من خالف الحكم الوارد في الفقرة (1) من المادة…Amended M/17
- Article 12The article contains general provisions: the timesharing activity register, application of the general rules of contracts where there is no provision, a grace period to regularize status, the fee for services, and issuing the Regulations and the Law taking effect.