When must a Public Offering Statement be provided to prospective buyers of a timeshare interest?

A Public Offering Statement is a critical document that must be provided to prospective buyers of a timeshare interest before they enter into a contract. This requirement is in place to ensure that buyers have access to essential information about the timeshare, including details about the property, the terms of the ownership, and the financial obligations involved. Providing this information prior to a contract helps to facilitate informed decision-making by prospective buyers, reducing the likelihood of misunderstandings or disputes later on.

This timing is also significant because it aligns with the consumer protection objectives inherent in real estate transactions, ensuring that buyers have the necessary information to evaluate their potential purchase thoughtfully. Therefore, delivering the Public Offering Statement prior to entering into any binding agreement is essential to uphold this standard.