Florida Statutes 721.19 – Provisions requiring purchase or lease of timeshare property by owners’ association or purchasers; validity
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 721.19
- Developer: includes :(a)1. See Florida Statutes 721.05
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Managing entity: means the person who operates or maintains the timeshare plan pursuant to…. See Florida Statutes 721.05
- Personal property: All property that is not real property.
- timeshare plan: includes :
(a) A "personal property timeshare plan" which means a timeshare plan in which the accommodations are comprised of personal property that is not permanently affixed to real property; and(b) A "real property timeshare plan" which means a timeshare plan in which the accommodations of the timeshare plan are comprised of or permanently affixed to real property. See Florida Statutes 721.05- Timeshare property: means one or more timeshare units subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those timeshare units. See Florida Statutes 721.05
In any timeshare plan in which timeshare estates or personal property timeshare interests are sold, no grant or reservation made by a declaration, lease, or other document, nor any contract made by the developer, managing entity, or owners’ association, which requires the owners’ association or purchasers to purchase or lease any portion of the timeshare property shall be valid unless approved by a majority of the purchasers other than the developer, after more than 50 percent of the timeshare periods have been sold.