N.J. Admin. Code § 11:5-9A.8

Current through Register Vol. 56, No. 19, October 7, 2024

Section 11:5-9A.8 - Advertising and sales promotions with respect to the sale and marketing of registered timeshare plans

(a) Advertisements that refer to the purchase price of a timeshare interest shall state the full purchase price and shall disclose any known or estimated additional assessments or costs to the purchaser.

1. No advertisement shall refer to a price increase unless the amount and date of the increase are indicated.

(b) No advertisement shall refer to any common element or facility that does not presently exist unless that fact is prominently stated in the advertisement, accompanied by the proposed date of completion, which shall also appear prominently in the advertisement.

(c) No advertisement shall contain photographs, sketches or artist's conceptions unless the fact that these are conceptions is stated immediately adjacent to them in the advertisement.

(d) Unless otherwise noted in the contract of sale, any model unit that is used as part of a promotional plan shall be in substantial conformity with the units that have been or are subsequently constructed.

(e) The owners of timeshare plans that are not registered with the Commission, nor wholly or partially exempt from the Act, shall not make or cause to be made an offer or disposition of any timeshare interest in such a plan to a person or resident within this State regardless of whether the offer or disposition originates within or outside of this State.

1. When advertisements for such properties or interests are placed in any media which is distributed in or broadcast into this State, a disclaimer shall be included indicating that the properties or interests are not registered with the New Jersey Real Estate Commission and that the advertisement is not an offer to New Jersey residents.

(f) Any advertisement, including those which contain offers of reimbursement of travel expenses and/or offers of premiums or other inducements, shall also comply with the provisions of the New Jersey Consumer Fraud Act, 56:8-1 et seq.

(g) Registrants who advertise in a language other than English shall make available to prospective purchasers all disclosure documents, including, but not limited to, the public offering statement, and the sales contract written in the same language as that used in the registrant's advertisements.

N.J. Admin. Code § 11:5-9A.8