DCP: Frequently Asked Questions About Timeshares

Frequently Asked Questions About Timeshares

  1. What state department regulates timeshares?
  2. What is the procedure for registering a Timeshare with the State of Connecticut?
  3. When are Timeshare renewals due?
  4. When must a developer file an amendment for a materially adverse change?
  5. Do Exchange Companies have to register in the State of Connecticut?
  6. What is the renewal date for Exchange companies?
  7. Is there a filing fee for material changes to the Exchange Company filing?
  8. Are timeshare resales regulated in the State of Connecticut?
Answer: Real estate issues concerning timeshares are regulated by the Department of Consumer Protection.  These provisions apply to contracts signed in Connecticut.  Connecticut consumers who purchase property outside Connecticut must seek help under that state's statutes.
Answer: An application must be submitted along with all the required documentation, a $300 filing fee and initial registration fee of $700. 
Answer: A developer must report any material adverse change in documents previously submitted to the department within 30 days after the developer knows or reasonably should know of the change along with a filing fee of $300. made payable to "Treasurer, State of Connecticut".
Answer: Any material change in previous filings submitted to the Department requires an amendment filing prior to becoming effective. The amendment file fee is $100.

Content Last Modified on 12/31/2013 1:22:07 PM