Close this F.A.Q. page.

Division of Real Estate

Timeshare Frequently Asked Questions


View all answers
Q. Who is required to register under the Real Estate Timeshare Act of 1999?
A.

Any person who sells, offers to sell, or attempts to solicit prospective purchasers or to solicit any individual located in Illinois to purchase a timeshare interest, or any person who creates a timeshare plan with an accommodation in the State of Illinois, shall register as a developer with the Department. (see 765 ILCS 101/5-15)

Q. Am I exempt from registration under the Real Estate Timeshare Act of 1999?
A.

There are several situations in which a timeshare developer may be exempt from registration. Please refer to 765 ILCS 101/5-5 for a list of exemptions.

Q. If the developer (or any of its agents) is invited to attend a trade show held in Illinois, must we register?
A.

Yes. The developer (or any of its agents) attending the Illinois trade show must register with the Department prior to participating in the show.

Q. How do I register as a timeshare developer/plan?
A.

To register, you must complete the Timeshare Application form along with the applicable fee(s), which can be found on our website - (Click here). You will need to attach all required supporting documentation requested in the exhibit lists. You can also register a sales agent, acquisition agent, and managing entity with this application.

Q. What are the fees associated with registering/amending?
A.

For a list of the fees please visit our website.

Q. Are Resale Agents required to register with the Department?
A.

No. A person conducting timeshare resale activities is not required to register with the Department. However, they must have an Illinois Real Estate Brokers license and comply with the guidelines as set forth in the Timeshare Act. (see 765 ILCS 101/5-40 regarding resale agent duties)

Q. When/how do I renew my registration?
A.

Certificates of registration for timeshare developers/plans, acquisition agents, managing entities, and sales agents expire annually on April 1. Prior to the expiration date, you will receive a renewal notice that must be returned with the appropriate fee(s). Click here for a list of the renewal fees.

Q. What is the difference between a comprehensive, an abbreviated, and an alternative registration and what are the requirements for each?
A.

Comprehensive registrations are required for all timeshare plans with accommodations located in Illinois or out-of-state plans that cannot file an abbreviated or an alternative registration. Abbreviated registrations are allowed for developers of timeshare plans that are registered and in good standing in the state in which all accommodations are located. Alternate registrations are allowed for developers of timeshare plans who want to expedite the registration process and begin marketing in Illinois immediately. The developers must have financial means to post a $1 million irrevocable letter of credit with the Department. The purpose of the letter of credit is to draw upon to satisfy purchaser claims against the applicant in the event a court of competent jurisdiction issues a final judgment to satisfy monetary losses to Illinois purchasers. A description of each type of registration and the requirements for each are listed in 765 ILCS 101/5 15(d),(e),(g).

Q. How do I add or change a currently registered sales agent, acquisition agent, or managing entity?
A.

To add or change an agent, complete the appropriate Supplemental Application form available on our website.

Q. How do I register an Exchange Company?
A.

To register an exchange company, you must complete an Exchange Company Registration Application, which can be found on our website.

Q. When/How do I renew my Exchange Company registration?
A.

Certificates of registration for exchange companies expire annually on August 1.* Prior to the expiration date, you will receive a renewal notice that must be returned with the appropriate fee(s). Click here for a list of the renewal fees.
* The August 1 expiration date became effective on September 9, 2011 (see 68 IL Administrative Code 1451.300).

Q. Why does my Certificate of Registration look different?
A.

In July of 2011, all timeshare records were transferred to a database consistent with all of the other Department licensees.

Q. What information is required in the Public Offering Statement?
A.

A comprehensive list of the required information that a Public Offering Statement must contain can be found in 765 ILCS 101/5-25 of the Act.

Q. What are the guidelines for advertising/marketing my timeshares in Illinois?
A.

The guidelines are set forth in 765 ILCS 101/10-25. Although the pre-approval of advertising and marketing materials is not required, the Department can request copies at any time to check for compliance.

Q. When is an amendment to a registration required and how soon must it be reported to the Department?
A.

The developer and exchange company shall amend or supplement their disclosure documents and registration information to reflect any material change in any information required by the Act. All such amendments, supplements, and changes shall be filed with the Department within 30 calendar days of the material change.

Q. How do I file a complaint against a Timeshare developer, sales agent, or someone I suspect is committing fraud?
A.

To file a complaint, please fill out the complaint form and mail to the address provided on the form. You will also need to attach to the form any and all documentation you have relating to the complaint. You can find the complaint form here.