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=U3= Sec481 -- Section 481 The concept of time-share agreement
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=S=> BGB 481. 1 Time-share agreements are contracts by which an entrepreneur procures or promises to procure for a consumer the right , in return for the payment of a total price , to use a building for a period of the year that is specified or to be specified , for recreation or residential purposes , for the duration of at least three years . The right may be a real right or another right and may also in particular , without limitation , be granted through membership of an association or a share in a company or partnership .
=S=> BGB 481. 2 The right may also consist in opting to use one of a group of residential buildings .
=S=> BGB 481. 3 A part of a residential building is equivalent to a residential building .
=U3= Sec482 -- Section 482 Duty to provide a prospectus with regard to time-share agreements
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=S=> BGB 482. 1 A person who , as an entrepreneur , offers time-share agreements to be entered into , must supply each consumer who indicates interest with a prospectus .
=S=> BGB 482. 2 The prospectus designated in subsection ( 1 ) must contain a general description of the residential building or the group of residential buildings as well as the information specified in the statutory order made under Article 242 of the Introductory Act to the Civil Code [ Einführungsgesetz zum Bürgerlichen Gesetzbuch ] .
=S=> BGB 482. 3 The entrepreneur may , before entering into the agreement , make an alteration to the information contained in the prospectus to the extent that this becomes necessary due to circumstances which he was unable to influence .
=S=> BGB 482. 4 Every advertisement for entering into time-share agreements must state that the prospectus is available and where it may be obtained .
=U3= Sec483 -- Section 483 Language of the contract and prospectus with regard to time-share agreements
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=S=> BGB 483. 1 The agreement is to be drafted in the official language , or , where there is more than one official language , in the official language , selected by the consumer , of the Member State of the European Union or of the state which is a contracting party to the Agreement on the European Economic Area in which the consumer has his residence . If the consumer is a national of another Member State , then instead of the language of the state in which he has his residence he may alternatively choose the official language or one of the official languages of the state of which he is a national . Sentences 1 and 2 also apply to the prospectus .
=S=> BGB 483. 2 If the agreement must be notarially recorded before a German notary , sections 5 and 16 of the Notarial Recording Act [ Beurkundungsgesetz ] apply with the proviso that the consumer must be provided with a certified translation of the agreement in the language chosen by him under subsection ( 1 ) .
=S=> BGB 483. 3 Time-share agreements that do not comply with subsections ( 1 ) sentences 1 and 2 , or ( 2 ) above are void .
=U3= Sec484 -- Section 484 Written form with regard to time-share agreements
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=S=> BGB 484. 1 The time-share agreement must be in writing , except to the extent that other provisions contain more stringent formal requirements . Entering into the agreement in electronic form is excluded . The information in the prospectus designated in section 482 that is supplied to the consumer is incorporated into the agreement except to the extent that the parties , expressly and indicating the deviation from the prospectus , agree otherwise . Such alterations must be notified to the consumer before the agreement is entered into . Notwithstanding the validity of the prospectus information under sentence 3 , the contract document must contain the information specified in the statutory order designated in section 482 ( 2 ) .
=S=> BGB 484. 2 The entrepreneur must provide the consumer with a contract document or a copy thereof . In addition , if the language of the agreement and the language of the state in which the residential building is situated are different , he must provide him with a certified translation of the agreement in the official language or one of the official languages of the European Union or of the Agreement on the European Economic Area of the state in which the residential building is situated . The duty to supply a certified translation does not apply if the right of use relates to a group of residential buildings which are situated in different states .
=U3= Sec485 -- Section 485 Right of revocation with regard to time-share agreements
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=S=> BGB 485. 1 In the case of a time-share agreement the consumer has a right of revocation under section 355.
=S=> BGB 485. 2 The required instruction on the right of revocation must also state the costs which the consumer must reimburse if the contract is revoked under subsection ( 5 ) sentence 2.
=S=> BGB 485. 3 If , before the agreement was entered into , the consumer was not supplied with the prospectus described in section 482 , or it was not in the language stipulated in section 483 ( 1 ) , then the period for exercising the right of revocation is one month , notwithstanding section 355 ( 1 ) sentence 2.
=S=> BGB 485. 4 If one of the items of information stipulated by the statutory order designated in section 482 ( 2 ) is missing from the contract , the period for exercising the right of revocation does not commence until the consumer is notified in writing of this information .
=S=> BGB 485. 5 Notwithstanding section 357 ( 1 ) and ( 3 ) , remuneration for services rendered and for permitting the use of residential buildings is excluded . If the contract was required to be notarially recorded , then the consumer must pay the entrepreneur the costs of the notarial recording if this is expressly stipulated in the agreement . In the cases set out in subsections ( 3 ) and ( 4 ) , there is no duty of reimbursement of costs ; the consumer may demand that the entrepreneur reimburses the costs of the agreement .
=U3= Sec486 -- Section 486 Prohibition of down payment with regard to time-share agreements
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=S=> BGB 486 The entrepreneur may not demand or accept payments by the consumer prior to the expiry of the revocation period . Provisions that are more favourable to the consumer are unaffected .
=U3= Sec487 -- Section 487 Deviating agreements
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=S=> BGB 487 There may be no deviation from the provisions of this title to the disadvantage of the consumer . Unless otherwise provided , the provisions of this title apply even if they are circumvented by other constructions .
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