§36-9-1. Short Title
This article shall be known and may be cited as the "West Virginia time-sharing act."
§36-9-10. Advertising Materials
(a) All advertising materials shall be filed with the division within ten days of use."Advertising materials" include: (1) Promotional brochures, pamphlets, advertisements or other materials to be disseminated to the public in connection with the sale of time shares;
§36-9-11. Recordkeeping by Seller
Each seller of a time-sharing plan shall maintain among its business records the following: (a) A copy of each contract for the sale of a time-share period, which contract has not been canceled. If fee title is being conveyed, the seller is required to retain a copy of the contract only until a deed of […]
§36-9-12. Management
(a) Before the first sale of a time-share period, the developer shall create or provide for a managing entity, which may be the developer, a separate management firm or an owners' association, or some combination thereof. (b) The managing entity shall act in the capacity of a fiduciary to the purchasers of the time-sharing plan. […]
§36-9-13. Discharge of Managing Entity
(a) If a fee simple interest in real property is being sold to purchasers of a time-sharing plan, the contract retaining a managing entity shall be automatically renewable every three years, beginning with the third year after the managing entity is first created or provided for the time- sharing plan, unless the purchasers vote to […]
§36-9-14. Assessment of Common Expenses
(a) Until a managing entity is created or provided, the developer shall pay all common expenses. (b) After the creation or provision of a managing entity, the managing entity shall make an annual assessment against each purchaser for the payment of common expenses, based on the projected annual budget, in the amount specified by the […]
§36-9-15. Liens for Overdue Assessments; Mechanic’s Liens, Insurance
(a) The managing entity has a lien on a timeshare period for any assessment levied against that timeshare period from the date such assessment becomes due. (b) The managing entity may bring an action in its name to foreclose a lien for assessments, in the manner a mortgage of real property is foreclosed. (c) The […]
§36-9-15a. Trustee’s Sale of Timeshare Estates
(a) A managing entity that desires to use a trustee sale shall prepare, execute and acknowledge a notice of trustee sale which shall include the following: (1) The time and place of sale;
§36-9-16. Transfer of Seller's Interest to Third Party
No seller shall sell, lease, assign, mortgage or otherwise transfer the seller's interest in the accommodations or facilities of a time-sharing plan to a third party, unless: (a) The third party agrees in writing to honor fully the rights of purchasers of the time-sharing plan to occupy and use the accommodations or facilities; (b) The […]
§36-9-17. Exchange Programs
(a) If a purchaser is offered the opportunity to subscribe to any program that provides exchanges of time- share periods among purchasers in either the same time- sharing plan or other time-sharing plans, or both, the seller shall deliver to the purchaser, together with the public offering statement, and prior to the execution of any […]
§36-9-18. License Required to Sell
Any seller of a time-sharing plan shall be a licensed real estate salesman, broker, or broker-salesman, pursuant to chapter forty-seven of the code or its successor, and shall be subject to all of the provisions of that article. This section shall not apply to those individuals who are exempt from chapter forty-seven of the code […]
§36-9-19. Purchaser's Remedies
An action for damages or injunctive or declaratory relief for a violation of this article may be brought by any purchaser or association of purchasers against the developer, a seller or the managing entity. The prevailing party in any such action may be entitled to reasonable attorney's fees. Relief under this section does not exclude […]
§36-9-2. Purposes
The purposes of this article are to: (a) Give statutory recognition to real property time- sharing in the state; (b) Establish procedures for the creation, sale and operation of time-sharing plans; and (c) Require every time-sharing plan offered for sale or created and existing in this state to be subjected to the provisions of this […]
§36-9-20. Partition
No action for partition of any time-share unit shall lie, unless otherwise provided for in the contract between the seller and the purchaser.
§36-9-21. Securities
Time-sharing plans are not securities under the provisions of this code.
§36-9-22. Zoning and Building
All laws, ordinances and regulations concerning buildings or zoning shall be construed and applied with reference to the nature and use of the real estate time- sharing plan property, without regard to the form of ownership.
§36-9-23. Regulation by Division
The division of land sales and condominiums is hereby created in the office of the State Auditor to administer the provisions of this article. The division has the power and authority to enforce and ensure compliance with the provisions of this article. In performing its duties, the division shall have the following powers and duties: […]
§36-9-24. Annual Fee for Each Time-Share Period in Plan
On or before July 1, of each year, each managing entity shall collect as a common expense and pay to the division an annual fee of 50¢ for each time- share period within the time-sharing plan.
§36-9-25. West Virginia Real Estate Time-Sharing Trust Fund
There is created within the State Treasury the West Virginia real estate time-sharing trust fund to be used for the administration and operation of this article by the division. All funds collected by the division and any amounts paid as fees or penalties under this article shall be deposited in the State Treasury to the […]
§36-9-26. Taxation
For purposes of local real property taxation, each time-sharing unit, other than an unit operated for time- share use, shall be valued in the same manner as if such unit were owned by a single taxpayer. The total cumulative purchase price paid by the time-share owners for a unit shall not be utilized by the […]