47C-4-105. Same; time share.
(a) If the declaration provides that ownership or occupancy of any units are or may be owned in time shares, the public offering statement shall disclose, in addition to the information required by G.S. 47C-4-103:
(1) The number and identity of units in which time shares may be created;
(2) The total number of time shares that may be created;
(3) The minimum duration of any time shares which may be created; and
(4) The extent to which the creation of time shares will or may affect the enforceability of the association's lien for assessments provided in G.S. 47C-3-116.
(b) The provisions of subsection (a) apply to all purchasers of units in the condominium. In addition, the purchaser of time shares shall receive the information required by G.S. 93A-44. (1985 (Reg. Sess., 1986), c. 877, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 47C - North Carolina Condominium Act
Article 4 - Protection of Purchasers.
§ 47C-4-101 - Applicability; waiver.
§ 47C-4-102 - Liability for public offering statement requirements.
§ 47C-4-103 - Public offering statement; general provisions.
§ 47C-4-104 - Same; condominiums subject to developmental rights.
§ 47C-4-105 - Same; time share.
§ 47C-4-106 - Conversion buildings.
§ 47C-4-107 - Same; condominium securities.
§ 47C-4-108 - Purchaser's right to cancel.
§ 47C-4-109 - Resales of units.
§ 47C-4-110 - Escrow of deposits.
§ 47C-4-111 - Release of liens or encumbrances.
§ 47C-4-113 - Express warranties of quality.
§ 47C-4-114 - Implied warranties of quality.
§ 47C-4-115 - Exclusion of modification of implied warranties of quality.
§ 47C-4-116 - Statute of limitations for warranties.
§ 47C-4-117 - Effect of violations on rights of action; attorney's fees.
§ 47C-4-118 - Labeling of promotional material.