§501-241 Leasehold time share interests. (a) Except as otherwise expressly provided in this part, the requirements of chapter 502 shall apply to a leasehold time share interest and the requirements of this chapter shall not apply to such leasehold time share interest. (b) Without limiting the generality of subsection (a), the following instruments need not […]
§501-242 Status of leasehold time share interest as real property. Nothing in this part shall affect the status of a leasehold time share interest as real property. [L 1998, c 219, pt of §1]
§501-243 Dual recording involving leasehold time share interests. Nothing in this part shall prevent or prohibit the registration of an instrument which assigns or affects both: (1) One or more leasehold time share interests; and (2) One or more interests in registered land other than a leasehold time share interest. [L 1998, c 219, pt […]
§501-244 Assignment of leasehold time share interest. Any instrument which first assigns or otherwise conveys a leasehold time share interest shall refer to the land court document number of the apartment lease or the most recent assignment of the whole thereof, whichever is later. Any subsequent instrument of assignment or conveyance shall refer to the […]
§501-245 Reference to recorded instruments pertaining to leasehold time share interests. Any instrument assigning, conveying, or otherwise dealing with a leasehold time share interest and which requires a reference to a prior recorded instrument may satisfy the requirements of section 502-33 by reference to the land court document number (in the case of a document […]
§501-246 Legal incidents of a leasehold time share interest. A leasehold time share interest, and ownership therein, shall in all respects be subject to the same burdens and incidents which attach by law to the lessee’s interest in a leasehold apartment that is part of a condominium property regime established on unregistered land and which […]
§501-247 Voluntary dealing with a leasehold time share interest. (a) Except as otherwise provided in this part, an owner of a leasehold time share interest may convey, mortgage, sublease, charge, or otherwise deal with the same as if the condominium to which it pertains was established on unregistered land. The owner may use forms of […]
[ §501-248] Jurisdiction for matters pertaining to leasehold time share interests. The land court shall have jurisdiction over all matters relating to instruments required by this part to be registered pursuant to this chapter. Where any party is in doubt as to whether an instrument must be registered, the question shall be referred to the […]
