707.28 Foreclosure of time-share estates and licenses.
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707.28 Foreclosure of time-share estates and licenses.
(1)Definition. In this section, “foreclosing entity” means a person that holds a mortgage or a lien for assessments under s. 707.37 on a time-share estate and that seeks to foreclose the mortgage or lien.
(2)Available procedures.
(a)Time-share estates. A mortgage or a lien for assessments under s. 707.37 on a time-share estate may be foreclosed in the same manner and subject to the same requirements as a foreclosure of mortgages on real property in this state or in the manner provided under this section.
(b)Time-share licenses. A security interest in, or a lien for assessments under s. 707.37 on, a time-share license may be foreclosed under chs. 401 to 411 .
(3)Nonjudicial time-share estate foreclosure procedure.
(a)Notice of default; nonjudicial foreclosure.