REAL ESTATE COMMISSION 11:5-9A.10
2. The developer certifies that all purchasers shall be provided with all disclosure documentation required by law to be provided in the jurisdiction in which the timeshare plan is located;
3. The developer certifies that New Jersey purchasers shall be provided with a right to rescind their purchase within seven days after the purchase contract is signed and all documents required under this Act and local and municipal law are delivered, whichever is later. If local or municipal law grants a longer rescission period, then the longer period would apply;
4. The developer submits a fee of $ 300.00 per notice filed in accordance with (c)1 above; and
5. If the offer is made to owners of interests in a previously registered timeshare plan, the registration of that plan was terminated in good standing as provided in N.J.S.A. 45:15- 16.60c, 45:15-16.40c or 45:22A-31, as applicable.
11:5-9A.8 Advertising and sales promotions with respect to the sale and marketing of registered timeshare plans
(a) Advertisements that refer to the purchase price of a timeshare interest shall state the full purchase price and shall disclose any known or estimated additional assessments or costs to the purchaser.
1. No advertisement shall refer to a price increase unless the amount and date of the increase are indicated.
(b) No advertisement shall refer to any common element or facility that does not presently exist unless that fact is prominently stated in the advertisement, accompanied by the proposed date of completion, which shall also appear prominently in the advertisement.
(c) No advertisement shall contain photographs, sketches or artist’s conceptions unless the fact that these are conceptions is stated immediately adjacent to them in the advertisement.
(d) Unless otherwise noted in the contract of sale, any model unit that is used as part of a promotional plan shall be in substantial conformity with the units that have been or are subsequently constructed.
(e) The owners of timeshare plans that are not registered with the Commission, nor wholly or partially exempt from the Act, shall not make or cause to be made an offer or disposition of any timeshare interest in such a plan to a person or resident within this State regardless of whether the offer or disposition originates within or outside of this State.
1. When advertisements for such properties or interests are placed in any media which is distributed in or broadcast into this State, a disclaimer shall be included indicating that the properties or interests are not registered with the New Jersey Real Estate Commission and that the advertisement is not an offer to New Jersey residents.
(f) Any advertisement, including those which contain offers of reimbursement of travel expenses and/or offers of premiums or other inducements, shall also comply with the provisions of the New Jersey Consumer Fraud Act, N.J.S.A. 56:8-1 et seq.
(g) Registrants who advertise in a language other than English shall make available to prospective purchasers all disclosure documents, including, but not limited to, the public offering statement, and the sales contract written in the same language as that used in the registrant’s advertisements.
11:5-9A.9 Inspection of timeshare offerings
(a)As provided in N.J.S.A. 45:15-16.84, the Commission, at its discretion, may make on-site inspections of any timeshare plan which is the subject of an application for registration, either before an order of registration has been issued or thereafter. The Commission may in its discretion conduct subsequent on-site inspections.
(b) The costs of inspections shall be paid by the applicant who shall provide a deposit when requested by the Commission. After the inspection, the Commission shall provide the applicant/ registrant with a statement of costs incurred and a refund of any portion of the deposit not expended or a request for additional funds if required.
11:5-9A.10 Fees
(a) All applicants for registration shall pay application fees as prescribed in N.J. S.A. 48:15-16.64 and in (e) below.
(b) Any request for approval of a material change in, or an amendment to, an application for registration on the basis of which an order of registration has been issued and/or an order of registration and/or a public offering statement shall be accompanied by a fee of $ 300.00. No fee shall be charged for amendments to applications or proposed public offering statements made prior to the issuance of an order of registration.
1. If applications are made simultaneously for approval of a material change and/or an amendment to an order of registration and/or an amendment to a previously approved public offering statement, only one fee shall be payable.
2. If applications are made for approval of multiple material changes, and/or multiple amendments to an order of registration, and/or multiple amendments to a public offering statement simultaneously, only one fee shall be payable.
(c) In accordance with the provisions of N.J.A.C. 15:3, the Commission shall maintain a copy of every application for registration of a timeshare plan that is currently registered together with all amendments thereto and shall make them reasonably available for public inspection during ordinary business hours at the Commission’s office.
1. The Commission shall furnish to the public, upon request, a copy of the statement of record of any registered subdivision at