TSA Licensing Vocab Quiz Crossword
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2) Statutes and Administrative Code for the Sale of Timeshares.4) A person who undertakes, directly or indirectly, the duties, responsibilities and obligations of managing, in whole or in part, a Timeshare plan or a project, or both5) The relationship allowing one to act for another.6) A contract that has been performed.7) A licensed real estate broker who, on behalf of a developer and for gain, employs or engages any person to induce a person to become a prospective purchaser from a developer.8) Upon the death of any joint tenant, the deceased tenant's interest passes, not to the tenants lawfully designated beneficiaries or heirs, but to the surviving tenant(s).9) A Timeshare Representative10) Ownership of property by one person or one legal entity (a corporation).12) CEO of the Department of Business and Industry. 13) A false statement or concealment of material fact with the intention of inducing action of another. An untrue statement of fact.14) Any document affecting real property which is the subject of the Timeshare or project.15) An additional loan charge or lender's fee that offsets a rising interest rate.17) Any person who controls, is controlled by or is under common control with a developer, including a
person who:
1. Is a general partner, officer, director or employer of the developer;
2. Directly or indirectly or acting in concert with one or more other persons, or through one or
more subsidiaries, owns, controls, holds with the power to vote, or holds proxies representing
more than 20 percent of the voting interest in the developer;
3. Controls the election of a majority of the directors of the developer; or
4. Has contributed more than 20 percent of the capital of the developer.19) The relationship between a broker-salesman, salesman, Timeshare representative or Timeshare agent and the project broker with whom he is associated.21) A person who is not a sales agent and who, on behalf of a developer, induces other persons to attend a sales presentation. 24) A contract that is illegal or void.25) Published material which:
1. Offers for sale any project, unit, Timeshare or interest in any Timeshare project;
2. Causes or induces, directly or indirectly, any person to acquire any interest in a project, unit,
Timeshare or interest in any Timeshare project;
3. Is used to induce prospective purchasers to attend sales presentations on Timeshares; or
4. Is used substantially for the retention of purchasers after sale.28) Responsible for providing legal opinions to the Real Estate Division.30) A person, including a developer, who has an equitable or legal interest in a Timeshare.32) Requires a contract to be in writing to be enforceable.36) A misstatement of material fact made with intent to deceive or made with reckless disregard of the truth, and that actually does deceive.42) A government, a governmental agency and a political subdivision of a government. |
Across:
1) The cancellation or cooling off period; varies from state to state.3) The authorization issued by the Administrator pursuant to the provisions of this chapter to a developer to offer to sell or sell Timeshares. 11) Any document creating or regulating Timeshares, excluding any law, ordinance or governmental regulation. 16) Those portions of a project other than the units. The term includes any easement which benefits the project. 18) Money or something of value.20) Any lien which encompasses more than one Timeshare.22) An instrument under seal, used to convey an interest in real property.23) any
person who controls, is controlled by or is under common control with a manager, including a
person who:
1. Is a general partner, officer, director or employer of the manager;
2. Directly or indirectly or acting in concert with one or more persons, or through one or more
subsidiaries, owns, controls, or holds with the power to vote more than 20 percent of the voting
interest in the manager;
3. Controls the election of a majority of the directors of the manager; or
4. Has contributed more than 20 percent of the capital of the manager.26) The governing body designated in a Timeshare instrument to act on behalf of an association.27) In the Bylaws which are in the Declaration.29) A type of interval ownership where the owner knows the specific week within a given year that he will have access to his accommodation.30) A solicitation made from a location other than a developer’s or real estate licensee’s regular place of business, including a location from which telephone solicitations are made, to induce persons to attend a sales presentation for a subdivision.31) Protects prior purchasers if a property defaults.33) Any fact that may have a significant and reasonable impact on the market value of the property is material.
34) That portion of a project which is designated for separate occupancy.35) disclosure document prepared and signed by the developer and approved or deemed approved for use by the Division, which contains the information required by this chapter and any regulations adopted pursuant thereto.37) A person who is licensed pursuant to the provisions of chapter 645 of NRS, who, for compensation, lists, advertised transfers, assists in transferring, promotes for resale or solicits prospective purchasers for previously sold Timeshares on behalf of an owner other than a developer. 38) The sale or transfer of a Timeshare that was previously sold to a purchaser. 39) A portion of the common area allocated by a Timeshare instrument for the exclusive use of at least one, but not all, of the units in a project. 40) A series of numbers or letters, or any combination thereof, which identifies, for the duration of a Timeshare plan, one Timeshare in the plan. 41) A type of interval ownership where the owner must make a reservation to occupy his accommodation with a given year.43) Anything published in any medium for any person to whom this chapter or chapter 119A of NRS applies.44) An association of owners established pursuant to NRS 119A.520.45) Money, goods, moveable and tangible things.46) CEO OF THE NRED47) Part time advisory board.48) Any sales presentation given to any number of potential purchasers at one time at any location. |
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