No registration with the commission shall be required in the case of:(1) Any transfer of a time-share interval by any time-share interval owner other than the developer and/or the developer's agent;(2) Any disposition pursuant to court order;(3) A disposition by a government or governmental agency;(4) A disposition by foreclosure or deed in lieu of foreclosure;(5) A disposition of a time-share interval in a time-share project situated wholly outside this state; provided, that all solicitations, negotiations, and contacts took place wholly outside this state and the contract was executed wholly outside this state;(6) A gratuitous transfer of a time-share interval; or(7) Group reservations made for fifteen (15) or more people as a single transaction between a hotel and travel agent or travel groups for hotel accommodations, where deposits are made and held for more than three (3) years in advance.Acts 1981, ch. 372, § 27; T.C.A., § 64-3227.
Tennessee Legal Code