Division of Florida Condominiums, Timeshares, and Mobile Homes
Frequently Asked Questions - New Filings and Amendments
1. What filing requirements are necessary prior to offering a timeshare plan?
Prior to offering any timeshare plan, the developer must submit a registered public offering statement to the division for approval. Additionally, the developer must establish an escrow account with an escrow agent for the purpose of protecting the funds of purchasers.
Cite: Sections 721.03, 721.07 and 721.08(1), F.S. and Rule 61B-39, F.A.C.
2. What are the fees for filing a timeshare plan?
Upon the filing of a public offering statement, the developer must pay a filing fee of $2 for each 7 days of annual use availability in each timeshare unit that may be offered as a part of the proposed timeshare plan.
Cite: Section 721.07(4)(a), F.S.
3. What information is provided by the division to assist with the initial filing of a timeshare plan?
The Division will provide a Timeshare Filing Packet that contains pertinent statutes and rules, required forms, and other helpful materials. This packet may be obtained by calling the Tallahassee office at 850.488.1122 or by visiting the Forms page linked to our website.
4. How long is the approval process for a timeshare plan?
Within 45 days after receipt by the Division’s Tallahassee office of the registered public offering statement, or within 120 days in the case of a multisite timeshare plan, the Division will notify the developer in writing of either approval or specified deficiencies. The developer is required to respond to the deficiency notice within 20 days of receipt of the deficiency notice. The Division will then respond within 20 days after receipt of the developer’s response to any deficiency notice. This process occurs until the filing is approved, withdrawn, or rejected.
Cite: Section 721.07(2), F.S.
5. What if there is a change to the approved public offering statement?
Any change to an approved public offering statement must be filed as an amendment with the Division of Condominiums, Timeshares, and Mobile Homes. The amendment shall be deemed effective upon written approval by the Division. Upon filing the amendment, other than an amendment adding a phase to the timeshare plan, the developer must pay a filing fee of $100.
Cite: Section 721.07(4)(b), F.S.
6. Can a developer accept reservations on a timeshare plan prior to filing a public offering statement?
Yes. A seller may accept reservation deposits upon approval by the Division of Condominiums, Timeshares, and Mobile Homes of a fully executed escrow agreement and reservation agreement.
Cite: Section 721.09, F.S.
7. Does advertising material relating to a timeshare plan need to be filed with the Division of Condominiums, Timeshares, and Mobile Homes?
All prize and gift promotional advertising material relating to a timeshare plan must be filed with the Division by the developer prior to use, along with a $100 filing fee. Other advertising may be filed for a complimentary review, if desired. All timeshare advertising material must be in compliance with Chapter 721, Florida Statutes.
Cite: Sections 721.11, F.S., 721.111, F.S., and Rule 61B-37.004, F.A.C.
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