Nevada Timeshare License Practice Exam

Question: 1 / 400

How many days does a timeshare owner have to pay a lien amount to avoid foreclosure after receiving a notice of default?

7 days

14 days

A timeshare owner has 14 days to pay a lien amount to avoid foreclosure after receiving a notice of default. This period is crucial because it allows the owner an opportunity to rectify the default by making the necessary payments. If the owner fails to act within these 14 days, the lien can lead to more severe actions, including foreclosure, which would result in the loss of their interest in the timeshare. The 14-day period is specified under Nevada law, making it an important timeframe that every timeshare owner should be aware of to protect their investment. Understanding this timeline helps owners to take prompt action and communicate with their timeshare management company if they are facing financial difficulties.

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21 days

30 days

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