94.813 Character of timeshare estates
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/or/ors-chapter-94/real-property-development/timeshare-estates/94-813·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
94.813 Character of timeshare estates.
(1)Except as expressly modified by ORS 92.325, 92.425, 94.570, 94.803 to 94.945, 100.005, 100.105, 100.200, 100.450 and 696.490, a timeshare estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or estate for years if a leasehold. A timeshare license is an estate for years having the character and incidents of such an estate at common law.
(2)A document transferring or encumbering a timeshare may not be rejected for recordation because of the nature or duration of the interest.
(3)Neither a timeshare plan nor a timeshare, subject to regulation under ORS 94.803 and 94.807 to 94.945 is a “security,” as defined in ORS 59.015. [1983 c.530 §§4a,5; 1985 c.349 §29; 1987 c.603 §25]