Montana Real Estate Unit 6(Timeshares) Questions and Correct Answers | Latest Update
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Course
Montana Real Estate
Institution
Montana Real Estate
Montana Timeshare Act
-:- Title 37, Chapter 53
Timeshares include
-:- structures, campgrounds, campsites, outdoor recreation sites, spaces
for trailer, tent, camper, or similar portable device
Selling/ transferring a time share
-:- -must be registered with the state of Montana
-provide a...
purchaser doesn't receive public offering statement then the agreement is voidable up until
and after for 7 days
Registering a timeshare
✓ -:- -signed by developer with registration fee
--Developer must file a complete application as determined by the board
-financial statements showing financial condition of developer
-fees in excess of stated price per unit, with purpose and calculations
-copy of timeshare instruments and public offering statement
-consent signed by developer-amendment must be filed if changes in timeshare offering
occur
Exemptions from registering a timeshare
✓ -:- -An offer of not more than two timeshare interests by a timeshare
owner in a 12-month period
-A gratuitous transfer of a timeshare interest
-A sale under court order
-A sale by any government or governmental agency
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