(a) Except as otherwise provided in this title, the recordation of a time-share instrument creates a time-share estate either as a freehold estate or an estate for years, as specified in the time-share instrument.

(b) A document transferring or encumbering a time-share estate shall be recorded among the land records of the county in which the unit is located and may not be rejected for recordation because of the nature or duration of that estate. A document transferring a time-share license may be recorded.

(c) Each time-share estate constitutes, for purposes of title, a separate estate or interest in a unit.