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Connecticut General Statutes Title 42. Business, Selling, Trading and Collection Practices § 42-103gg. Recordation of time share instrument. Declaration. Licensure of sales agents. Exceptions

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The developer of a time share plan any part of which is located in this state shall properly record the time share instrument in the land records of all towns where an accommodation is located. When a person expressly declares an intent to subject the property to a time share plan through the recordation of a time share instrument that sets forth the information provided in subsections (b) and (c) of this section, that property shall be established thenceforth as a time share plan.

(b) The declaration made in a time share instrument recorded under this section shall include:

(1) A legal description of the time share property, including a ground plan indicating the location of each existing or proposed building included in the time share plan;

(2) A description of each existing or proposed accommodation, including the location and square footage of each unit and an interior floor plan of each existing or proposed building;

(3) A description of any amenities furnished or to be furnished to the purchaser;

(4) A statement of the fractional or percentage part that each time share interest bears to the entire time share plan;

(5) A statement that the time share property is part of a multisite time share plan, if applicable; and

(6) Any additional information consistent with this section.

(c) Any sales agent who offers a time share interest created under this section shall be licensed as a real estate broker or real estate salesperson as set forth in section 20-312, unless exempt from licensure under chapter 392. 1 The following need not be licensed pursuant to section 20-312: (1) An exchange company that is exchanging time share periods, or (2) a person who only distributes literature pertaining to a time share or advertises a time share, provided a sales agent or a real estate broker or real estate salesperson licensed under section 20-312 transacts the sale of such time share interest.

1 C.G.S.A. § 20-311 et seq.
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Cite this article: FindLaw.com - Connecticut General Statutes Title 42. Business, Selling, Trading and Collection Practices § 42-103gg. Recordation of time share instrument. Declaration. Licensure of sales agents. Exceptions - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-42-business-selling-trading-and-collection-practices/ct-gen-st-sect-42-103gg/

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