No registration with the commission shall be required in the case of:

(1) Any transfer of a time-share interval by any time-share interval owner other than the developer and/or the developer’s agent;
contract signature

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Terms Used In Tennessee Code 66-32-126

  • Commission: means Tennessee real estate commission, which is an agency created under §. See Tennessee Code 66-32-102
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Developer: means , in the case of any given property, any person or entity which is in the business of creating or which is in the business of selling its own time-share intervals in any time-share program. See Tennessee Code 66-32-102
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Time-share interval: means a time-share estate or a time-share use. See Tennessee Code 66-32-102
  • Time-share project: means any real property that is subject to a time-share program. See Tennessee Code 66-32-102
(2) Any disposition pursuant to court order;
(3) A disposition by a government or governmental agency;
(4) A disposition by foreclosure or deed in lieu of foreclosure;
(5) A disposition of a time-share interval in a time-share project situated wholly outside this state; provided, that all solicitations, negotiations, and contacts took place wholly outside this state and the contract was executed wholly outside this state;
(6) A gratuitous transfer of a time-share interval; or
(7) Group reservations made for fifteen (15) or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations, where deposits are made and held for more than three (3) years in advance.
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