Massachusetts General Laws ch. 183B sec. 3 – Estates in fee simple; estates for years; separate estates; taxes and assessments; recording documents
Section 3. (a) Except as otherwise provided in this chapter and notwithstanding any contrary rule of common law, a grant of an estate in a unit conferring the right of possession during a potentially infinite number of separated time periods creates an estate in fee simple having the character and incidents of such an estate at common law, and a grant of an estate in a unit conferring the right of possession during five or more separated time periods over a finite number of years equal to five or more, including extension or renewal options, creates an estate for years having the character and incidents of such an estate at common law.
Terms Used In Massachusetts General Laws ch. 183B sec. 3
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(b) Each time-share estate constitutes for all purposes a separate estate in real property; provided, however, that a time-share property shall be considered one parcel of real estate for the assessment and collection of real estate taxes, betterment assessments or portions thereof, annual sewer use charges, water rates and charges, and all other assessments or portions thereof, rates and charges of every nature, due to a city, town or district with respect to the time-share property. Notices of assessments and bills for taxes shall be furnished to and paid by the managing entity, if any, as agent for the time-share owners, or if there is no managing entity, to each time-share owner. The managing entity shall give notice of such assessment to the time-share owners.
(c) A document transferring or encumbering a time-share estate may not be rejected for recording because of the nature or duration of such estate.