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TN timeshare study guide 2024|100% solved | Questions and Correct Answers (Verified Answers) | A Grade $12.99   Add to cart

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TN timeshare study guide 2024|100% solved | Questions and Correct Answers (Verified Answers) | A Grade

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  • TN TIMESHARE
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  • TN TIMESHARE

TN timeshare study guide 2024|100% solved | Questions and Correct Answers (Verified Answers) | A Grade

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  • November 12, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • TN TIMESHARE
  • TN TIMESHARE
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TN timeshare study guide 2024|100% solved |
Questions and Correct Answers (Verified Answers) | A
Grade


What constitutes a premium tourist city? - ✔✔population over 3000, 40% or more
assessed value must be hotels, restaurants etc.




What is inter vivos trust? - ✔✔A revocable trust created while the owner is still alive to
hold property for benefit of another. Also a living trust




What is a timeshare estate? - ✔✔An estate in real property. Character of real estate is
fee simple




What is an acquisitions agent? - ✔✔Person who solicits people to attend a presentation




What is an exchange agent? - ✔✔agent of exchange programs, RCI agent.




What is a purchaser? - ✔✔Anyone who buys a timeshare

, What is a sales agent? - ✔✔Person who sells timeshare




What is a Time Share Resale Broker? - ✔✔Person who sells 5 or more timeshare a year that
are not your own.




What is a unit? - ✔✔real property improvements in a project which is divided into
timeshare segments




What is a managing agent? - ✔✔person with management duties and responsibilities
and obligations of a timeshare program?




What can be a timeshare unit? - ✔✔Anything unless prohibited by project instruments or
local governing laws




Public offering statement must include. (really long answer) - ✔✔Name of county where prop
is located

legal description

ID of time periods by letter name and number

ID of timeshare estates and how much they can

be Common expenses and voting rights

Any restrictions on use, alterations, alienation of timeshare units

Ownership interest maintenance provisions replacement

Name and address of developer

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