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North Carolina Real Estate Laws & Rules Governing Timeshares

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question 1 of 3

Real Estate Law 93A-42 states that a timeshare regarding real property in North Carolina is governed by the laws of _____.

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1. The purchaser of a timeshare has the right to cancel within _____ by mail or hand delivery.

2. All payments for a timeshare will be put in a trust or escrow account and remain there for _____ or cancellation by the purchaser.

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About This Quiz & Worksheet

Find out how much you know about North Carolina real estate timeshare laws with these study assessments. Answer questions on specifics like Real Estate Law 93A-42 and the length of time a purchaser has to cancel a timeshare.

Quiz & Worksheet Goals

You'll be addressing the following points of interest on the quiz:

  • How long payments for a timeshare are kept in an escrow account
  • What happens to violators of the Time Share Act
  • The length of time a timeshare salesperson and developer must hold on to their transaction records

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information regarding North Carolina real estate timeshare laws
  • Information recall - access the knowledge you've gained regarding the use of an escrow account for a timeshare
  • Knowledge application - use your knowledge to answer questions about details of North Carolina real estate laws for timeshares and the Time Share Act

Additional Learning

Use the lesson called North Carolina Real Estate Laws & Rules Governing Timeshares for more on these topics:

  • The purpose of timeshare registration
  • Sections of the North Carolina Time Share Act
  • Details of potential disciplinary action under the the North Carolina Real Estate Commission
  • Sales operation rules for timeshares and the licensing requirements for sellers in North Carolina
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