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Code · Nebraska · Chapter 76 — Real Property

76-1727. Time-share interval; offer or sale; restrictions.

131 words·~1 min read·/ne/chapter-76/76-1727

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A developer shall not offer or dispose of a time-share interval:
(1)If the time-share program is not registered with the commission and not otherwise exempted under section 76-1738 , except that a developer may accept a reservation together with a deposit if the deposit is placed in an escrow account with an institution having trust powers and is refundable at any time at the purchaser's option. In all cases, a reservation shall require a subsequent affirmative act by the purchaser by a separate instrument to create a binding obligation;
(2)While an order revoking or suspending the registration of the time-share program is in effect; or
(3)If the developer has not designated a duly licensed Nebraska real estate broker who accepts responsibility for the developer's actions in this state.
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