Timeshare Test #1 Correctly Solved 2025

Timeshare Test #1 Correctly Solved 2024 An owner who has a leasehold in a timeshare condominium has: A. Whole ownership B. Fee simple ownership C. Interval of time D. Cooperative - Answer -C. Interval of time A timeshare agent is a person who is A. Project Broker B. Person who sells timeshares on behalf of a developer C. Person who induces others to attend a timeshare presentation - Answer -B. Person who sells timeshares on behalf of a developer Until closing, all monies, negotiable instruments or other deposits pertaining to the sale of a timeshare must be placed in: A. An escrow agent account approved by the Division B. A trustee account approved by the Division C. Brokers personal bank account D. Brokers trust account - Answer -A. An escrow agent account approved by the Division Which document must be reviewed and signed by the purchaser before the execution of any contract for the sale of the timeshare: A. Truth in Lending B. Public offering StatementC. Acknowledgments