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Code · Wisconsin · Chapter 707 — Time-share ownership

707.31 Transfer of special developer rights.

327 words·~1 min read·/wi/chapter-707/707-31

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707.31 Transfer of special developer rights.
(1)Definition. In this section, “special developer right” means a developer’s right to do any of the following:
(a)Add more units to a time-share property under s. 707.21
(f).
(b)Maintain sales offices, management offices, models and signs under s. 707.25 .
(c)Appoint, control or serve as the managing entity.
(2)Requirements for transfer. No special developer right may be transferred except by an instrument executed by both the transferor and transferee which evidences the transfer and is recorded in every county in which any portion of the time-share property is located.
(3)Liability of transferor. Upon transfer of a special developer right, the liability of a transferor shall be as follows:
(a)The transferor may not be relieved of any obligation or liability arising before the transfer, and the transferor shall remain liable for warranty obligations imposed upon him or her under s. 707.53 . Lack of privity may not deprive a time-share owner of standing to maintain an action to enforce an obligation of the transferor.
(b)If a successor to a special developer right is an affiliate of the developer, the transferor shall be jointly and severally liable with the successor for any obligations or liabilities of the successor relating to the time-share property.
(c)If the transferor retains any special developer right but transfers other special developer rights to a successor who is not an affiliate of the developer, the transferor shall be liable for any obligations or liabilities imposed on a developer either by this chapter or by the time-share instrument relating to the retained special developer rights and arising after the transfer.
(d)A transferor is not liable for any act or omission or any breach of a contractual or warranty obligation arising from the exercise of a special developer right by a successor developer who is not an affiliate of the transferor.
(4)Rights where foreclosure or tax sale.
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