Real Estate 

(b)   In determining that the time-shares will not terminate at the end of the term of the time-share plan, an association may:

(1)   Establish a later termination date or decide that there will be no termination date; and

(2)   Provide that on or after the original termination date as set forth in the time-share instrument, a time-share owner shall continue to:

(i)   Have exclusive rights to use, occupy, sell, convey, assign, mortgage, exchange, or pass by will or inheritance, any time-shares owned by the person;

(ii)   Use and enjoy all the common elements of the time-share project; and

(iii)   Have the previously existing rights and duties in the association including the right to vote and the duty to pay charges and assessments.

(c)   A person to whom a time-share is transferred by sale, conveyance, assignment, mortgage, devise, bequest, or inheritance shall have the rights and duties of the person from whom the time-share was transferred.

(d)   The provisions of this section apply even if, under the terms of a time-share deed or time-share instrument, the time-share owners have or will become owners as tenants in common of a time-share unit or project.

(e)   An association may not take an action provided for in subsection (a) of this section unless the notice of the meeting sent to the time-share owners expressly states that the action may be considered at the meeting.

Prev | Next

________________________________________________________________________

Questions & Answers: Real Estate

My uncle & Aunt are 6 months into a one year rental lease. they have been offer an apartment for much less money than they are presently paying under the one year lease. how can t...

How long are the SEllers Disclosures good for once delivered to Buyer...

I am a tenant at the same property for 5 years. Over this time, I have been late w/the rent and had a few checks returned but have always paid them plus fees and my rent is now cur...

im buying a home in Nebraska an signed a legal paper at lawyer office but was not told that dad died in the home the home is in Nebraska , Ican I get out of the contract , we signe...

I LIVE IN A NYS CONDO. WE HAVE 7 MEMBERS ON THE BOARD. IF ONE RESIGNES AND THE USUAL PROCEDURE IS FOR THE BOARD TO VOTE IN ANOTHER MEMBER, HOW CAN THAT BE ACCOMPLISHED WITH AN EV...

I was informed at our annual condominium meeting last night that there is a new law regarding quorum when voting for trustees. In our by-laws 72% of the quorum must be met. We were...

See also:

Maryland Code > Real Property