Nevada Timeshare License Practice Exam

Question: 1 / 400

Which document must a developer possess to take reservations for timeshare properties before project completion?

Final Approval

Preliminary Permit

A developer must possess a Preliminary Permit to take reservations for timeshare properties before the project completion. This permit allows the developer to begin the process of selling timeshares, even if the project is not yet finished. It serves as a provisional authorization that indicates the developer is in compliance with certain regulatory requirements, enabling them to accept reservations and make sales commitments to potential buyers.

Without this Preliminary Permit, a developer would not be authorized to take advance reservations, which helps protect consumers by ensuring that the developer meets necessary legal standards before engaging in sales activities. It's a key component in the regulatory framework designed to ensure the integrity of timeshare offerings.

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Development License

Sales Certificate

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