Chapter 183B

Section 1. This chapter may be cited as the Real Estate Time–Share Act.

Section 10. This chapter being intended as a unified coverage of its subject matter, no part of it shall be construed to be impliedly repealed in whole or in part by subsequent legislation if such construction can reasonably be avoided.

Section 11. If all of the documents constituting the project instrument are recorded, time-shares shall not be created in any unit in a project unless expressly permitted by the project instrument. No amendment to a project instrument which is recorded shall permit the creation o…

Section 12. (a) Except as provided in subsection (b), more than twelve time-shares may be created in a single time-share property only by a time-share instrument recorded in the registry of deeds or land registration office for the district in which the time-share unit is situate…

Section 13. (a) The time-share instrument shall state the amount of or formula used to determine any time-share expense liability allocated to each time-share. (b) If the time-share instrument provides for voting, it shall allocate votes to each time-share unit and to each time-s…

Section 14. No action for partition of a time-share unit may be maintained except as permitted by the time-share instrument or by paragraph (3) of subsection (b) of section fifteen.

Section 15. (a) This section shall apply to time-share licenses only to the extent expressly provided by the time-share instrument. (b) After the occurrence of a duly noticed and held meeting of an association of owners convened not less than 30 days after such notice to consider…

Section 16. A developer may maintain sales offices, management offices, and models in the time-share property only if the time-share instrument so provides and specifies the rights of a developer with regard to the number, size, location, and relocation thereof. He may maintain s…

Section 17. The time-share instrument may require that all or a specified number or percentage of the mortgagees of units or time-shares approve specified actions of the unit owners, time-share owners, developer, or managing entity as a condition to the effectiveness of said acti…

Section 18. A time-share estate, coupled with a freehold estate, shall be evidenced by a time-share deed, and a time-share estate, coupled with an estate for years shall be evidenced by a notice of time-share lease. A time-share license shall be evidenced by a notice of time-shar…

Section 19. (a) If the number of time-shares in a time-share property is more than twelve, the developer, before the first transfer of a time-share, shall create or provide a managing entity to manage the time-share property. The managing entity may be (i) a manager, who may be t…

Section 2. As used in this chapter, the following words shall, unless the context otherwise requires, have the following meanings:— ''Affiliate of a developer'', any person who controls, is controlled by, or is under common control with a developer. A person controls a developer …

Section 20. (a) Subject to the provisions of subsection (b) and the time-share instrument, the association, even if unincorporated, may: (1) adopt and amend by-laws, rules, and regulations; (2) adopt and amend budgets for revenues, expenditures, and reserves and collect assessmen…

Section 21. The developer shall have the duties imposed on the managing entity by this chapter and the powers set forth in clauses (1) to (11), inclusive, of subsection (a) of section twenty until a managing entity is provided or the developer and his affiliates own no estate or …

Section 22. (a) For the purposes of this section, ''special developer right'' shall mean a right reserved for the benefit of a developer to add more units to a time-share property to maintain sales offices, management offices, models, and signs or to appoint, control, or serve as…

Section 23. (a) If, before the developer ceases to appoint, control or serve as the managing entity, there is entered into (i) any management contract, employment contract, or lease of recreational or parking areas or facilities between the managing entity and the developer or an…

Section 24. Except to the extent otherwise provided by the time-share instrument, the managing entity shall be responsible for maintenance, repair, and replacement of the time-share units and any personal property available for use by time-share owners in conjunction therewith, o…

Section 25. (a) A time-share owner shall be personally liable for his acts and omissions and those of his employees and agents other than the managing entity. (b) An action shall not be maintained against a time-share owner, nor shall a time-share owner be precluded from maintain…

Section 26. (a) Commencing not later than the time a developer offers a time-share for sale in a time-share property in which the number of time-shares is more than twelve, the managing entity shall maintain, to the extent reasonably available and applicable and not otherwise agr…

Section 27. Unless otherwise provided in the time-share instrument, the by-laws, rules or regulations of the time-share association or otherwise determined by the time-share owners at a meeting of time-share owners or pursuant to either section thirty-three or thirty-four, any su…

Section 28. (a) Until time-share expense assessments are made against the time-share owners, the developer shall pay all time-share expenses. After any time-share expense assessment has been made against the time-share owners, time-share expense assessments shall be made at least…

Section 29. (a) A person who has a duty to make assessments for time-share expenses shall have a lien on a time-share for any assessment levied against that time-share or fines imposed against its owner from the time the assessment or fine becomes due. In the case of either a tim…

Section 29A. The rights of a time-share owner shall be subject to forfeiture in accordance with clauses (a) to (g), inclusive, for breach of condition of any mortgage, which for the purpose of this section shall include any security instrument including, but not limited to, a mor…

Section 29B. The rights of a time-share owner shall be subject to forfeiture in accordance with clauses (a) to (d), inclusive, for non-payment of assessments. (a) Upon default in payment of assessments, and after all applicable cure periods have expired, the association shall pro…

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…

Section 30. A person who has a duty to make assessments for time-share expenses shall keep financial records sufficiently detailed to enable him to comply with section forty-two. All financial and other records shall be made reasonably available for examination by any time-share …

Section 31. A third person dealing with a trustee, pursuant to the provisions of section fifteen or twenty-six, may assume without inquiry the existence of trust powers and the proper exercise thereof by the trustee. A third person shall not be bound to inquire whether the truste…

Section 32. (a) For the purposes of this section and sections thirty-three, thirty-four and thirty-five: (1) ''Owner'' shall mean a person who is an owner or co-owner of a time-share estate or a time-share license or, in the case of a unit that is not a time-share unit, a person …

Section 33. (a) The owners may amend the project instrument or any unrecorded document governing the project, or approve or disapprove any proposed expenditure, in the manner provided by this section in addition to any manner permitted by law or by the instrument or document. (b)…

Section 34. (a) No amendment to the project instrument may be adopted except pursuant to this section or section thirty-three. The project instrument may specify other matters to be determined by referendum of the owners and may permit the managing entity to select matters to be …

Section 35. (a) During the period of time the developer appoints, controls or serves as the managing entity, the owners may discharge the manager with or without cause in the manner provided by this section in addition to any manner permitted by law or the project instrument. (b)…

Section 36. (a) Sections thirty-six to fifty-five, inclusive, shall apply to all time-shares subject to this chapter except as provided in subsection (b). (b) Neither a public offering statement nor the materials required by section forty-two need be prepared or delivered in the …

Section 37. (a) Except as provided in subsection (b), a developer, prior to the offering of any interest in a unit to the general public, shall prepare a public offering statement conforming to the requirements of sections thirty-eight, thirty-nine and forty. (b) A developer may …

Section 38. (a) A public offering statement shall be written in clear and concise language and shall contain or fully and accurately disclose: (1) the name and principal address of the developer and the location of the time-share property; (2) a general description of the time-sh…

Section 39. (a) If a conversion building that includes or is to include one or more time-share units is more than ten years old and the developer or any affiliates of the developer own or control more than fifty per cent of all units in the project, the public offering statement …

Section 39A. The units created or constructed under this chapter shall conform to the regulations promulgated pursuant to section thirteen A of chapter twenty-two.

Section 4. Except as otherwise expressly provided in this chapter, provisions of this chapter shall not be varied by agreement, and rights conferred by this chapter shall not be waived. A developer shall not act under a power of attorney, or use any other device, to evade the lim…

Section 40. If a time-share is currently registered with the securities and exchange commission of the United States, a developer satisfies all requirements of this chapter relating to the preparation of a public offering statement if he delivers to the purchaser a copy of the pu…

Section 41. (a) A person required to deliver a public offering statement pursuant to subsection (c) of section thirty-seven shall, before transfer of a time-share and no later than the date of a contract of sale, provide a prospective purchaser with (i) a copy of the public offer…

Section 42. (a) Except in the case of a sale where delivery of a public offering statement is required, or unless exempt under subsection (b) of section thirty-six, a seller of a time-share shall furnish to the purchaser before execution of any contract of sale, or before the tra…

Section 42A. (a)(1) Before engaging in resale advertising services, a resale service provider shall provide to the consumer time-share reseller: (i) a description of any fees or costs related to such services that the consumer time-share reseller, or any other person, is required…

Section 43. (a) Any deposit made in connection with the purchase or reservation in the commonwealth of a time-share from a person required to deliver a public offering statement pursuant to subsection (c) of section thirty-seven shall be placed in escrow, either in the commonweal…

Section 44. (a) In the case of a sale of a time-share where delivery of a public offering statement is required pursuant to subsection (c) of section thirty-seven, a seller shall, before transferring a time-share, record in the appropriate registry of deeds or land registration o…

Section 45. (a) Express warranties made by any seller to a purchaser of a time-share shall be created as follows: (1) any affirmation of fact or promise which relates to the time-share, the time-share unit, rights appurtenant to either, area improvements that would directly benef…

Section 46. (a) A developer and any person in the business of selling real estate for his own account warrants that a time-share unit shall be in at least as good condition as the earlier of the time of the transfer or of the delivery of possession as it was at the time of contra…

Section 47. (a) Except as limited by subsection (b) implied warranties of quality: (1) may be excluded or modified by agreement of the parties; and (2) shall be excluded by expressions of disclaimer, such as ''as is'', ''with all faults'', or other language that in common underst…

Section 48. (a) A judicial proceeding for breach of any obligation arising under section forty-five or forty-six shall be commenced within four years after the cause of action accrues, but the parties may agree to reduce the period of limitation to not less than two years. With r…

Section 49. If a developer or any other person subject to this chapter fails to comply with any provision of this chapter or of the time-share instrument, any person or class of persons adversely affected by the failure to comply shall have a claim for appropriate relief. A failu…

Section 5. (a) The court, upon finding as a matter of law that a time-share contract or contract clause was unconscionable at the time the contract was made, may refuse to enforce such contract, may enforce the remainder of the contract without the unconscionable clause, or may l…

Section 50. If any improvement in the time-share property is not required to be built, no promotional material may be displayed or delivered to prospective purchasers which describes or portrays said improvement unless the description or portrayal of the improvement shall be cons…