Tennessee Code 66-32-112 – Public offering statement – General provisions
Current as of: 2024 | Check for updates
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A public offering statement must be provided to each purchaser of a time-share interval and must contain or fully and accurately disclose:
Terms Used In Tennessee Code 66-32-112
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Offering: means any offer to sell, solicitation, inducement or advertisement whether by radio, television, newspaper, magazine or by mail, whereby a person is given an opportunity to acquire a time-share interval within a project located either within or outside the state. See Tennessee Code 66-32-102
- property: means all of the real property subject to a project instrument, and containing more than one (1) unit. See Tennessee Code 66-32-102
- Purchaser: means any person other than a developer or lender who acquires an interest in a time-share interval. See Tennessee Code 66-32-102
- 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
- Unit: means the real property or real property improvement in a project which is divided into time-share intervals. See Tennessee Code 66-32-102
- Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105