Sec. 34.08.550. Time shares.

169 words·~1 min read·/ak/title-34/chapter-8/34-08-550

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

If the declaration provides that ownership or occupancy of a unit is or may be in time shares, the public offering statement must disclose, in addition to the information required by AS 34.08.530 ,

(1)the number and identity of units in which time shares may be created;

(2)the total number of time shares that may be created;

(3)the minimum duration of any time shares that may be created;

(4)the extent to which the creation of time shares will or may affect the enforceability of the lien of the association for assessments under AS 34.08.470 ;

(5)any restraint on the power of the purchaser of the time-share unit to transfer the interest in the time-share unit;

(6)whether the time-share unit is included in an exchange program, the present cost and a good faith estimate of the future cost to the purchaser from the exchange program; and

(7)whether the purchaser is required to become a member of the exchange program.