§591. Definitions As used in this chapter, unless the context indicates otherwise, the following terms have the following meanings. [PL 1983, c. 248, §3 (NEW).] 1. Manager. “Manager” means any person, other than all time-share owners or the association, designated in or employed pursuant to the time-share instrument or project instrument to manage the […]
§592. Requirements of time shares 1. Specific disclosures. No time share may be conveyed by a developer or conveyed for the first time unless, prior to that conveyance or the execution of an agreement for the purchase, whichever is earlier, the purchaser is provided, at no cost to the purchaser, with a written statement containing […]
§593-A. Utility billing for time-share estates 1. Definitions. As used in this section, the following terms have the following meanings. A. “Assessment” means any rate, fee or charge assessed or imposed by a utility for the provision of its service to time-share units, other than service that is metered or otherwise measured and billed […]
§593. Taxation of time-share estates Notwithstanding the provisions of sections 579 and 580, taxation of time-share estates shall be determined according to this section. [PL 1983, c. 407, §1 (NEW).] 1. Creation of estates. Notwithstanding any contrary rule of common law, a grant of an estate in a unit conferring the right of possession […]
§594. Liens for assessment 1. Lien created. A managing entity has a lien on a time share for any assessment for expenses of the time share or taxes or fines levied against that time share in accordance with the project instrument or municipal or state law from the time the assessment, tax or fine becomes […]
§595. Foreclosure or commercial sale of timeshare 1. Nonjudicial foreclosure of time-share estate. A time-share owner may grant to a financial institution or other person a mortgage with a power of sale on that owner’s time-share estate that is governed by the terms of this section. The foreclosure of a mortgage with a power of […]
