Property Ownership
In New York, a 'timeshare' or 'vacation ownership interest' is regulated by:
AThe DOS Division of Licensing Services only
BThe General Business Law Article 23-A (Martin Act) and the DOS, as it involves interests in real property✓ Correct
CThe Department of State only for marketing
DNo state regulation
Explanation
Timeshare offering plans in New York are subject to the Martin Act (GBL Article 23-A), which requires filing an offering plan with the Attorney General. Marketing and sales of timeshares must comply with real estate license law and Martin Act requirements.
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