Florida Statutes 721.27 – Annual fee for each timeshare unit in plan
Current as of: 2024 | Check for updates
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Terms Used In Florida Statutes 721.27
- Division: means the Division of Florida Condominiums, Timeshares, and Mobile Homes of the Department of Business and Professional Regulation. See Florida Statutes 721.05
- Managing entity: means the person who operates or maintains the timeshare plan pursuant to…. See Florida Statutes 721.05
- 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 721.05On January 1 of each year, each managing entity of a timeshare plan located in this state shall collect as a common expense and pay to the division an annual fee of $2 for each 7 days of annual use availability that exist within the timeshare plan at that time, subject to any limitations on the amount of such annual fee pursuant to s. 721.58. If any portion of the annual fee is not paid by March 1, the managing entity may be assessed a penalty pursuant to s. 721.26.