What document is essential for developers before offering timeshare interests?

The Certificate of Registration is essential for developers before offering timeshare interests because it is a legal requirement that demonstrates the developer has met the necessary regulatory standards set by the state. This document is issued by the North Carolina Real Estate Commission after a thorough review of the timeshare project, including its marketing materials, financial documents, and compliance with state laws. Without this certificate, developers cannot legally market or sell timeshare interests, ensuring that consumers are protected from fraudulent or misleading practices in the timeshare industry. Therefore, obtaining the Certificate of Registration is a critical first step in the process of offering timeshares to the public.