Arizona Laws 32-2197.18
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A. If the commissioner issues a cease and desist order, obtains a court order enjoining further sales, issues an order of prohibition or suspends approval of a timeshare plan, the action shall be recorded in the book of deeds in the office of the county recorder in any county in which the timeshare property is located.
Terms Used In Arizona Laws 32-2197.18
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Commissioner: means the state real estate commissioner. See Arizona Laws 32-2101
- Timeshare plan: means any arrangement, plan or similar device, other than an exchange program, whether by membership agreement, sale, lease, deed, license or right-to-use agreement or by any other means, in which a purchaser, in exchange for consideration, receives ownership rights in or the right to use accommodations for a period of time less than a full year during any given year, but not necessarily for consecutive years. See Arizona Laws 32-2197
- Timeshare property: means one or more accommodations subject to the same timeshare instrument, together with any other property or rights to property appurtenant to those accommodations. See Arizona Laws 32-2197
B. In the event of revocation of any of the orders which require recording in subsection A, an order of release shall be recorded in the same manner.