{"data":{"id":"us-pa/68-pa.c.s.-3403","jurisdiction":"us-pa","citation":"68 Pa.C.S. § 3403","heading":"Public offering statement; time-share estates.","body":"(a) Definition.--For purposes of this section, \"time-share estate\" means either:\n(1) an \"interval estate,\" meaning a combination of:\n(i) an estate for years in a unit, during the term of which title to the unit rotates among the time-share owners thereof, vesting in each of them in turn for periods established by a fixed recorded schedule, with the series thus established recurring regularly until the term expires, coupled with\n(ii) a vested undivided fee simple interest in the remainder in that unit, the magnitude of that interest having been established by the declaration or by the deed creating the interval estate; or\n(2) a \"time-span estate,\" meaning a combination of:\n(i) an undivided interest in a present estate in fee simple in a unit, the magnitude of that interest having been established by the declaration or by the deed conveying the time-span estate, coupled with\n(ii) the exclusive right to possession and occupancy of that unit during a regularly recurring period designated by that deed or by a recorded document referred to therein.\n(b) General rule.--If the declaration 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 3402 (relating to public offering statement; general provisions):\n(1) The total number of units in which time-share estates may be created.\n(2) The total number of time-share estates that may be created in the condominium.\n(3) The projected common expense assessment for each time-share estate and whether those assessments may vary seasonally.\n(4) A statement of any services not reflected in the budget which the declarant provides, or expenses which he pays, and which he 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.\n(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.\n(6) The extent to which a suit for partition may be maintained against a unit owned in time-share estates.\n(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.\n(8) A statement in at least ten-point bold face type, appearing on the first page of the public offering statement, that:\n(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.\n(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 3406(c) (relating to purchaser's right to cancel) and a description of such damages.\n(iii) If a purchaser receives the public offering statement more than seven days before signing a contract, he cannot cancel the contract.","path":["Title 68 - REAL AND PERSONAL PROPERTY","PART II REAL PROPERTY","SUBPART B CONDOMINIUMS","CHAPTER 34 PROTECTION OF PURCHASERS"],"source_url":"https://www.palegis.us/statutes/consolidated/view-statute?txtType=HTM\u0026ttl=68\u0026div=0\u0026chpt=34\u0026sctn=3\u0026subsctn=0","current_through":"2026-07-28 (Statute Update stamp, 68 Pa.C.S.)","vintage":"","retrieved_at":"2026-09-02T16:35:13Z","sha256":"70a8b836de6c770f233c689cdb04726cfab32bbe41270def35bec3ee427eda85","source_id":"us-pa","stale":false,"prev":"us-pa/68-pa.c.s.-3402","next":"us-pa/68-pa.c.s.-3404"},"notice":"GroundRules: Original legal text. Not legal advice."}