2010 Pennsylvania Code
Title 68 - REAL AND PERSONAL PROPERTY
Chapter 54 - Protection of Purchasers
5403 - Public offering statement; time-share estates.

     § 5403.  Public offering statement; time-share estates.
        If the declarant provides that ownership or occupancy of any
     units are or may be owned in time-shares, the public offering
     statement shall contain or disclose in addition to the
     information required by section 5402 (relating to public
     offering statement; general provisions):
            (1)  The total number of units in which time-share
        estates may be created.
            (2)  The total number of time-share estates that may be
        created in the planned community.
            (3)  The projected common expense assessment for each
        time-share estate and whether those assessments may vary
        seasonally.
            (4)  A statement of any services, not reflected in the
        budget, which the declarant provides or expenses which he
        pays and which the declarant expects may become at any
        subsequent time a common expense of the association and the
        projected common expense assessment attributable to each of
        those services or expenses for each time-share estate.
            (5)  The extent to which the time-share owners of a unit
        are jointly and severally liable for the payment of real
        estate taxes and all assessments and other charges levied
        against that unit.
            (6)  The extent to which a suit for partition may be
        maintained against a unit owned in time-share estates.
            (7)  The extent to which a time-share estate may become
        subject to a tax or other lien arising out of claims against
        other time-share owners of the same unit.
            (8)  A statement in at least ten-point boldface type,
        appearing on the first page of the public offering statement,
        that:
                (i)  Within seven days after receipt of a public
            offering statement, a purchaser, before conveyance, may
            cancel any contract for purchase of a unit from a
            declarant.
                (ii)  If a declarant fails to provide a public
            offering statement to a purchaser before conveying a
            unit, the purchaser may recover from the declarant
            damages as provided in section 5406(c) (relating to
            purchaser's right to cancel) and a description of such
            damages.
                (iii)  If a purchaser receives the public offering
            statement more than seven days before signing a contract,
            the purchaser cannot cancel the contract.

        Cross References.  Section 5403 is referred to in sections
     5102, 5401 of this title.