A Hawaii time share developer sells interests in a plan that has not yet been registered with the Hawaii Real Estate Commission. The developer argues that registration is only required before advertising, not before actual sales. Under HRS Chapter 467B, which of the following correctly describes the developer's legal position?
Correct Answer
B) The developer is incorrect; registration must be completed before either advertising or selling time share interests to the public
Under HRS Chapter 467B, registration of a time share plan with the Hawaii Real Estate Commission is a prerequisite to both advertising and selling time share interests to the public. The developer cannot legally market or sell time share interests in Hawaii without first obtaining registration approval from HREC. The developer's argument that registration applies only to advertising is incorrect — the statute requires registration before any sales activity commences.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
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