Contents and recording of project and time-share instruments

(a) Project instruments and time-share instruments creating time-share estates located in the State of Georgia shall be recorded in the superior court of the county in which the project is located and shall contain the following: (1) The name of the county in which the property is situated; (2) The legal description, street address, or other description sufficient to identify the property; (3) Identification of time periods by letter, name, number, or combination thereof; (4) Identification of time-share estates and, where applicable, the method whereby additional time-share estates may be created; 280 44-3-167 (5) The formula, fraction, or percentage of the common expenses and any voting rights assigned to each time-share estate and, where applicable, to each unit in a project that is not subject to the time-share program; (6) Any restrictions on the use, occupancy, alteration, or alienation of time-share intervals; and (7) The ownership interest, if any, in personal property and provisions for care and replacement. (b) For time-share projects located outside the State of Georgia, project instruments therefor shall be recorded as required by the law of the jurisdiction in which such time-share project is located. (Code 1981, § 44-3-166, enacted by Ga. L. 1983, p. 1255, § 1; Ga. L. 1995, p. 1260, § 1.) 44-3-167. Time-share estate program management and operation.