Florida Community Association Manager Practice Exam

What requirement must an out-of-state timeshare fulfill to sell units to Florida residents?

1. Obtain a Florida real estate license

2. Comply with Florida disclosures

3. Register with the local county

4. Establish a local business presence

The correct answer is: Comply with Florida disclosures

An out-of-state timeshare must comply with Florida disclosures to sell units to local residents. This requirement reflects Florida’s commitment to protecting consumers, ensuring they have access to essential information regarding the timeshare being sold. These disclosures typically cover various aspects, including the rights of the timeshare owners, financial details, and any other significant information relevant to the purchase. By mandating compliance with Florida disclosures, the state creates a transparent marketplace where prospective buyers can make informed decisions. This is particularly important in the real estate sector, where buyers often require clarity on terms and conditions associated with ownership. Therefore, ensuring that out-of-state timeshares comply with Florida's stringent disclosure requirements is essential for legal operations within the state.