Section 18: Deeds; notice of lease or license; recording; contents

268 words·~1 min read·/ma/part-ii/title-i/chapter-183b/18

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

Section 18. A time-share estate, coupled with a freehold estate, shall be evidenced by a time-share deed, and a time-share estate, coupled with an estate for years shall be evidenced by a notice of time-share lease. A time-share license shall be evidenced by a notice of time-share license. Said deed, notice of time-share lease or notice of time-share license shall be recorded in the registry of deeds or land registration office for the district in which the time-share property is located; provided however, that the number of time-shares in a time-share property is more than twelve.

The time-share deed shall include the information required by law to be set forth in a deed of real property and the notice of time-share lease or notice of time-share license shall include the information required by law to be set forth in a notice of lease. In addition such deed or notice shall include:

(1)a statement that the instrument relates to a time-share and is subject to the provisions of this chapter;

(2)a description of the time-share including designation of the unit or units, and the time-share property in which it is located;

(3)the book, page and date of recording of all time-share instruments denominating, creating or regulating the time-share;

(4)a statement of the use for which the time-share is intended and the restrictions, if any, on its use;

(5)the time-share expense liability and any voting rights assigned to the time-share; and

(6)any further provisions which the parties may deem desirable to set forth, consistent with the time-share instruments and the provisions of this chapter.