§36-10-9. Nontestamentary Transfer on Death
(a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this article and is not testamentary. (b) This article does not limit the rights of creditors of security owners against beneficiaries and other transferees under […]
§36-10-10. Terms, Conditions and Forms for Registration
(a) A registering entity offering to accept registrations in beneficiary form may establish the terms and conditions under which it will receive requests (i) for registrations in beneficiary form, and (ii) for implementation of registrations in beneficiary form, including requests for cancellation of previously registered TOD beneficiary designations and requests for reregistration to effect a […]
§36-10-2. Registration in Beneficiary Form; Sole or Joint Tenancy Ownership
Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants […]
§36-10-3. Registration in Beneficiary Form; Applicable Law
A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity's principal office, the office of its transfer agent or its office making the registration, or by this or a […]
§36-10-4. Origination of Registration in Beneficiary Form
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
§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 […]