§ 42-103cc Short title: Time Share Act
§ 42-103dd Definitions
§ 42-103ee Application of Time Share Act and exemptions. Use of “vacation ownership” in advertisement and disclosures
§ 42-103ff Exempt communications
§ 42-103gg Recordation of time share instrument. Declaration. Licensure of sales agents. Exceptions
§ 42-103hh Ownership and conveyance of time share interest
§ 42-103ii Registration of time share plan. Presales authorization. Application fee. Developer requirements after approval by commissioner
§ 42-103jj Time share plan registration application. Abbreviated application. Statement in lieu of abbreviated application. Exclusion. Application investigation and inspection of property. Costs. Amendments to registration. Fee
§ 42-103kk Regulations. Penalties. Hearings. Enforcement. Compliance with other statutes. Developer registration. Fees
§ 42-103ll Advertisements and promotions. Prohibitions. Disclosures
§ 42-103mm Time share disclosure statement. Written acknowledgment of receipt
§ 42-103nn Exchange disclosure statement. Filing with department. Amendments. Fees
§ 42-103oo Duty and liability of developer
§ 42-103pp Cancellation of purchase contract
§ 42-103qq Purchase contract statements
§ 42-103rr Exchange company. Liability exceptions
§ 42-103ss Deposit of funds. Release of funds. Closing agent and developer agreement. Disputes relating to funds. Financial assurance in lieu of funds
§ 42-103tt Unfair trade practices. Use rights compliance. Nonmaterial error or omission
§ 42-103uu Insurance
§ 42-103vv Developer prohibitions. Penalty
§ 42-103ww Annual statement of time share plan or time share property provided by managing entity upon request. Audits. Unfair trade practice. Posting in registration area of accommodation. Extension. Enforcement
§ 42-103xx Treatment of assessments collected by managing entity. Disclosures. Fiduciary duty of managing entity
§ 42-103yy Assessments. Lien on time share interest. Foreclosure
§ 42-103zz Costs of delinquent assessment collection. Notice to purchaser
§ 42-103aaa Books and records
§ 42-103bbb Time share resale broker requirements. Rebuttable presumption. Exclusions
§ 42-103ccc Time share resale disclosure requirements
§ 42-103ddd Time share resale agreement requirements. Exceptions

Terms Used In Connecticut General Statutes > Chapter 734b - Time Shares

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Counterclaim: A claim that a defendant makes against a plaintiff.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). Source: OCC
  • Service of process: The service of writs or summonses to the appropriate party.
  • Statute: A law passed by a legislature.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.