Statements concerning the tennessee time-share law

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Reference no: EM132208662

1. All of the following would be a violation of the license law EXCEPT:

not disclosing a material fact.

not releasing proceeds to a seller within 30 days of closing.

charging both buyer and seller a fee without written consent.

charging a flat fee instead of a percentage of the purchase price.

2. Which of the following is a form of public land use control?

Condominium association membership

Real estate licensing

Codes that regulate building construction

Restrictive covenants

3. All of the following statements concerning the Tennessee Time-Share Law are true EXCEPT:

There is a 10-day right of rescission if the purchaser made an on-site inspection before the purchase.

There is a 15-day right of rescission if the purchaser did not make an on-site inspection before the purchase.

A licensee with an affiliate broker's license needs an additional time-share license to market time-shares.

A time-share licensee can only market time-share offerings if his firm is affiliated with a registered time-share project

Reference no: EM132208662

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