557A.5 Status of time-share estates.
90 words·~1 min read·
/ia/chapter-557a-time-shares/557a-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or an estate for years if a leasehold, except as expressly modified by this chapter.
2. A document transferring or encumbering a time-share estate shall not be rejected for recordation because of the nature or duration of the estate.
3. For purposes of title, each time-share estate constitutes a separate estate or interest in property except for real property tax purposes.
Referred to in §557A.3