707.39 (5) or (6) which is recorded after June 1, 1988, may not permit the creation of time shares unless the owner of each unit in the project, and the record owners of liens on each unit in the project, consent to the amendment. History: 1987 a. 399.
707.21 Time-share instrument. (1) CONTENTS. Except as provided in sub. (2), more than 12 time shares may be created in a single time-share property only by recording under sub. (3) a time-share instrument containing or providing for all of the following: (a) A sufficient description of the time-share property and the name or other identification of the project, if any, within which the time-share property is located. (b) A copy of or reference to a recorded project and timeshare property plat required under s. 707.215. (c) The name of the county or counties in which the timeshare property is located.
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(d) Identification of time periods by letter, name or number. (e) The time-share liability and any voting rights assigned to each time share. (em) A method for allocating real property taxes among the time-share owners and a method of giving notice to the timeshare owners of an assessment and the amount of the property taxes, as required under s. 70.095. (f) If additional units may become part of the time-share property, the method of doing so and the formula for allocation and reallocation of the time-share liabilities and any voting rights. (g) The method of designating the insurance trustee required under s. 707.35 (4). (h) Allocation of time for maintenance of the time-share units. (i) Provisions for management by a managing entity or by the time-share owners. (2) EXCEPTION FOR CERTAIN EASEMENTS OR LICENSES. If a time-share easement or a time-share license applies to units in more than one time-share property, the time-share instrument creating the time-share easement or the time-share license need not contain or provide for the matters specified in sub. (1) (a) to (h). (3) RECORDING. Before the sale of any time share in a timeshare property for which a time-share instrument is required under sub. (1), the developer shall record the time-share instrument and all amendments of the time-share instrument with the register of deeds of every county in which any portion of the timeshare property is located. The time-share instrument shall be indexed in the name of the time-share property and the developer, and the index shall identify time-share estate owners and all transfers of time-share estates. Subsequent instruments affecting the title to a time-share unit which is physically located entirely within a single county shall be recorded only in that county, even if the common elements are not physically located entirely within that county. Subsequent amendments shall be indexed under the name of the developer. History: 1987 a. 399; 2007 a. 18.
707.215 Project and time-share property plat. (1) RECORDING REQUIREMENT. When a time-share instrument is recorded under s. 707.21 (3), the developer shall file for record a plat, as described in sub. (2), of the time-share property and the project, if any, within which the time-share property is located, except that if a plat of the project was previously recorded the developer need only file the information necessary to update the recorded plat. (2) REQUIRED CONTENTS. A plat filed for recording under sub. (1) may consist of one or more sheets, shall be produced on media that is acceptable to the register of deeds, and shall contain at least all of the following: (a) On each sheet of the plat, the name of the project and timeshare property and the county in which the project and time-share property are located. If there is more than one sheet, each sheet shall be consecutively numbered and show the relation of that sheet number to the total number of sheets. (b) A survey of the project and time-share property complying with minimum standards for property surveys adopted by the examining board, as defined in s. 443.01 (3), and showing the location of any time-share unit, unit or other building located or to be located on the property. (c) Diagrammatic floor plans of each building located or to be located on the property which show the approximate dimensions, floor area and location of each time-share unit and unit in a building. Common elements shall be shown graphically to the extent feasible.
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(3) FORM OF MAPS AND PLANS. All survey maps and floor plans submitted for recording shall be legibly prepared with a binding margin of one inch on all sides on durable white media that is 14 inches in length and 22 inches in width, or on other media that is acceptable to the register of deeds, with a permanent nonfading black image. The maps and plans shall be drawn to a convenient scale. (4) DESIGNATION OF TIME-SHARE UNITS AND UNITS. Every time-share unit and unit shall be designated on the plat by number or other appropriate designation. (5) PROFESSIONAL LAND SURVEYOR’S CERTIFICATE. A plat is sufficient for the purposes of this chapter if attached to or included in the plat is a certificate of a professional land surveyor licensed under ch. 443, and the certificate provides all of the following: (a) That the plat is a correct representation of the project and the time-share property. (b) The identification and location of each time-share unit and each unit and the common elements can be determined from the plat. (6) NONAPPLICABILITY. Chapter 236 does not apply to plats required under this section. History: 1987 a. 399; 2005 a. 41; 2013 a. 358.
707.22 Allocation of time-share liability and voting rights. (1) ALLOCATION OF EXPENSES. The time-share instrument shall state the amount of, or formula used to determine, any time-share liability. (2) ALLOCATION OF VOTING RIGHTS. (a) If the time-share instrument provides for voting, it shall allocate votes to each timeshare unit and to each time share under par. (b), but shall not allocate votes to any other property or person. (b) The number of votes allocated to each time share shall be equal for all time shares or proportionate to each time share’s value, as estimated by the developer, time-share liability or timeshare unit size. The time-share instrument may specify matters as to which the votes shall be equal and other matters as to which votes shall be proportionate. (3) ALTERING ALLOCATION. Except as otherwise provided under s. 707.21 (1) (f), the votes and time-share liability may not be altered without the unanimous consent of all time-share owners entitled to vote and voting either at a meeting or in an initiative or referendum in which at least 80 percent of the votes allocated to time shares are cast. (4) SUM OF EXPENSES. Except for minor variations due to rounding, the sum of the time-share liabilities assigned to all time shares shall equal one, if stated as fractions, or 100 percent if stated as percentages. If a discrepancy occurs between the timeshare liability or votes allocated to a time share and the result derived from the application of the formulas, the allocated timeshare liability or vote prevails. History: 1987 a. 399.
707.23 Partition. Notwithstanding ch. 842, no action for partition of a time-share unit may be maintained except as permitted by the time-share instrument or under s. 707.24 (3) (b). History: 1987 a. 399.
707.24
Termination of time shares. (1) TERMINATION BY AGREEMENT. All time shares in a time-share property may be terminated only by agreement of the time-share owners having at least 80 percent of the time shares, except that the time-share instrument may require approval by a greater majority. (2) RECORDING OF AGREEMENT. (a) An agreement to terminate all time shares in a time-share property shall be evidenced by
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a termination agreement which meets the requirements of s. 706.05 (2) for recording, is signed by each of the time-share owners who agree to termination under sub. (1) and provides that the agreement will be void unless the agreement is recorded before a specified date. (b) A termination agreement shall be recorded in the office of the register of deeds of each county in which a portion of the time-share property is located and shall be effective only upon recordation. (3) AGREEMENT WITHOUT SALES CONTRACT. (a) Unless the termination agreement sets forth a sales contract described in sub. (4), title to an estate or interest in each time-share unit, equal to the sum of the time shares in the time-share unit, shall vest upon termination in the time-share owners of the time-share unit in proportion to their respective interests under sub. (6m) or (7), and liens on the time shares shall shift accordingly to encumber those interests. (b) Upon termination, an owner of an estate or interest in a time-share unit under par. (a) may maintain an action for partition under ch. 842. (4) AGREEMENT WITH SALES CONTRACT. If the termination agreement sets forth the material terms of a contract or proposed contract under which an estate or interest in each time-share unit, equal to the sum of the time shares in the time-share unit, is to be sold and designates a trustee to effect the sale, title to that estate or interest shall vest upon termination in the trustee for the benefit of the time-share owners, to be transferred under the contract. Proceeds of the sale shall be distributed to time-share owners and lienholders under sub. (6). (5) RIGHTS AND LIABILITIES AFTER TERMINATION. Except as otherwise specified in the termination agreement, if the former time-share owners or their trustee holds title to the estate or interest equal to the sum of the time shares, each former time-share owner and the time-share owner’s successors in interest have the same rights with respect to occupancy in the former time-share unit that the former time-share owner would have had if termination had not occurred, together with the same liabilities and other obligations imposed under this chapter or the time-share instrument. (6) DISTRIBUTION OF PROCEEDS. After termination of all time shares in a time-share property and adequate provision for the payment of the claims of the creditors for time-share expenses, the proceeds shall be distributed to the former time-share owners and their successors in interest in proportion to their interests as determined under sub. (6m) or (7). The distribution shall consist of the proceeds of any sale under this section and the proceeds of any personalty or other funds held for the use and benefit of the former time-share owners. After termination, creditors of the association holding liens perfected against the time-share property before the termination may enforce those liens in the same manner as any other lienholder. All other creditors of the association shall be treated as if they had liens on time-share property which were perfected immediately before termination. (6m) INTERESTS SPECIFIED. The time-share instrument may specify the respective fractional or percentage interest in the estate or interest in each time-share unit equal to the sum of the time shares in the time-share unit that will be owned by each former time-share owner. (7) APPRAISALS. (a) If the specification under sub. (6m) is not made, an appraisal under par. (b) of the fair market value of each time share shall be made not more than 180 days before the termination by one or more impartial qualified appraisers, selected either by the trustee designated in the termination agreement or by the managing entity if no trustee is designated. (b) The appraisal shall state the corresponding fractional or
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percentage interests calculated in proportion to those values and shall be made in accordance with all of the following: 1. If the termination agreement sets forth a sales contract described in sub. (4), each time share conferring a right of occupancy during a limited number of time periods shall be appraised as if the time until the date specified for the conveyance of the property had already elapsed. 2. If the termination agreement does not set forth a sales contract described in sub. (4), each time share conferring a right of occupancy during a limited number of time periods shall be appraised as if the date specified under sub. (2) had already elapsed. 3. The interest of each time-share owner is the value of the time share divided by the sum of the values of all time shares in the unit or units to which the time share applies. (c) A notice stating all values and corresponding interests determined under par. (b) and the return address of the sender shall be sent by certified or registered mail by the managing entity or by the trustee designated in the termination agreement to all timeshare owners. (d) The appraisal governs the magnitude of each interest unless at least 25 percent of the time-share owners deliver, within 60 days after the notices required under par. (c) are mailed, written disapprovals to the sender of the notice or unless a court determines that the appraisal should be set aside. (8) FORECLOSURE. Foreclosure or enforcement of a lien or encumbrance against all of the time shares in a time-share property does not, of itself, terminate those time shares. History: 1987 a. 399.
707.25 Use for sales purposes. (1) Except as provided in sub. (2), 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 of the offices. The developer may maintain signs on the time-share property advertising the time-share property. (2) A developer’s authority under sub. (1) is subject to restrictions in ordinances and the project instrument. History: 1987 a. 399.
707.26 Rights of secured lenders. The time-share instrument may require that all or a specified number or percentage of holders of mortgages or equivalent security interests encumbering units or time shares approve specified actions of the unit owners, time-share owners, the developer or the managing entity as a condition to the effectiveness of those actions, but no requirement for approval may do any of the following: (1) CONTROL OVER ADMINISTRATION. Deny or delegate control over the general administrative affairs of an association by the unit owners or time-share owners, or their elected representatives. (2) INVOLVEMENT IN LITIGATION. Prevent an association from commencing, intervening in or settling any litigation or proceeding or receiving and distributing insurance proceeds under s. 707.35. History: 1987 a. 399.
707.28 Foreclosure of time-share estates and licenses. (1) DEFINITION. In this section, “foreclosing entity” means a person that holds a mortgage or a lien for assessments under s. 707.37 on a time-share estate and that seeks to foreclose the mortgage or lien. (2) AVAILABLE PROCEDURES. (a) Time-share estates. A mortgage or a lien for assessments under s. 707.37 on a timeshare estate may be foreclosed in the same manner and subject to
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the same requirements as a foreclosure of mortgages on real property in this state or in the manner provided under this section. (b) Time-share licenses. A security interest in, or a lien for assessments under s. 707.37 on, a time-share license may be foreclosed under chs. 401 to 411. (3) NONJUDICIAL TIME-SHARE ESTATE FORECLOSURE PROCEDURE. (a) Notice of default; nonjudicial foreclosure. 1. To foreclose a mortgage or a lien for assessments under s. 707.37 on a time-share estate under this section, a foreclosing entity shall first provide written notice to the time-share owner in default at the time-share owner’s last-known address by certified mail, with return receipt requested, and by 1st class mail, subject to s. 707.38 (5). 2. The notice shall inform the time-share owner of his or her default and the amount that he or she owes to the foreclosing entity; that he or she has the right to a judicial foreclosure conducted in the manner provided in ch. 846; that, within 30 days from the date on which the notice was mailed under subd. 1., or 30 days from the last date the notice was mailed if the mailings were not on the same date, he or she may cure the default or object in writing to nonjudicial foreclosure; and that, if he or she does not timely cure the default or object to the nonjudicial foreclosure in writing, the foreclosing entity may proceed with a nonjudicial foreclosure. 3. The notice shall include, for use by the time-share owner, a separate form objecting to nonjudicial foreclosure that includes the address of the foreclosing entity. 4. If, within the 30-day period under subd. 2., the time-share owner returns the objection form under subd. 3. or otherwise objects in writing to the use of nonjudicial foreclosure, the foreclosing entity must use the procedure under ch. 846 to foreclose the mortgage or lien. However, if the time-share owner does not, within the 30-day period under subd. 2., object in writing to nonjudicial foreclosure, he or she waives his or her right to foreclosure conducted in the manner provided under ch. 846, and, if he or she does not within that 30-day period cure the default, the foreclosing entity may proceed with a foreclosure sale of the time-share estate by public auction as provided in this section. (b) Notice of sale; general requirements. The foreclosing entity shall provide notice of the foreclosure sale under this section as follows: 1. a. Except as provided in subd. 1. b., notice of the sale as provided in par. (c) or (d), whichever is applicable, must be published once in each of 3 successive weeks in a newspaper having general circulation in the county in which the time-share estate is located. The first publication must be no later than 30 days before the date of the sale, excluding the date of that first publication and the date of the sale. b. In lieu of publishing the notice of sale in a newspaper as provided in subd. 1. a., notice may be given by posting a copy of the notice of sale as provided in par. (c) or (d), whichever is applicable, for 3 successive weeks on the Internet and publishing, once a week for 3 successive weeks in a newspaper having general circulation in the county in which the time-share estate is located, a notice, in at least 10-point boldface type, that states at a minimum that the notice of sale for the foreclosure of the time-share estate is posted on the Internet, the Internet site where the notice is posted, and the name and street address of the property in which the time-share estate exists. The posting on the Internet shall begin on the same date as the first newspaper publication, which date must be no later than 30 days before the date of the sale, excluding the date of that first publication and the date of the sale. 2. At least 30 days before the date of the sale, excluding the date of the sale, written notice of the date, time, and place of the
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sale, which may be a copy of the notice under par. (c) or (d), whichever is applicable, must be mailed to all of the following: a. Subject to s. 707.38 (5), the time-share owner at the timeshare owner’s last-known address by certified mail, with return receipt requested, and by 1st class mail. b. All persons having a lien of record on the time-share estate by certified mail, with return receipt requested. 3. The notice provided to the time-share owner under subd. 2. a. must include the following language: “You are hereby notified that you have a right to petition the Circuit Court for _______ County (the county in which the time-share estate is located), with service on _________ (the foreclosing entity) and upon such bond as the Court may require, to enjoin the scheduled foreclosure sale.” 4. If more than one time-share estate in the same time-share property will be sold at the foreclosure sale, all such time-share estates may be combined into one notice of sale, with one property description, as described in par. (c) or (d), whichever is applicable. 5. The notice of sale as provided in par. (c) or (d), whichever is applicable; published, or posted and published, and mailed in accordance with the requirements under this subsection; together with such other or further notice, if any; constitutes sufficient notice of the sale. (c) Form of notice to foreclose lien for assessments. The notice of foreclosure sale for foreclosing a lien for assessments under s. 707.37 on a time-share estate under this section shall be in substantially the following form: NOTICE OF SALE OF TIME-SHARE ESTATE OR ESTATES UNDER CHAPTER 707 OF THE WISCONSIN STATUTES By virtue of the (project instrument or time-share instrument, whichever is applicable) of the .... (name and address of the timeshare property), and Chapter 707 of the Wisconsin Statutes establishing a lien for failure to pay assessments on the time-share estate (or estates, if more than one) held by the time-share owner (or owners, if more than one) listed below, the time-share estate (or estates, if more than one) will be sold at public auction, commencing at ...., on ...., 20.., at ...., Wisconsin. (For each time-share estate, list the name and address of the time-share owner, a general description of the time-share estate, and the recording information for the deed or other instrument vesting the time-share estate in the time-share owner.) TERMS OF SALE: (State the deposit amount to be paid by the buyer at the time and place of the sale and the times for payment of the balance or the whole, as the case may be. The timeshare estates, if more than one, must be sold in individual lots unless there are no individual bidders, in which case they may be sold as a group.) Other terms to be announced at the sale. Signed .... Holder of the lien or authorized agent. (d) Form of notice to foreclose mortgage lien. The notice of foreclosure sale for foreclosing a mortgage lien on a time-share estate under this section shall be in substantially the following form: NOTICE OF SALE OF TIME-SHARE ESTATE OR ESTATES UNDER CHAPTER 707 OF THE WISCONSIN STATUTES By virtue of Chapter 707 of the Wisconsin Statutes and the rights contained in a certain mortgage (or mortgages, if more than one) on the time-share estate (or estates, if more than one) given by the time-share owner (or owners, if more than one) set forth below for breach of the conditions of the mortgage (or mortgages,
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if more than one) and for the purpose of foreclosing, the timeshare estate (or estates, if more than one) will be sold at public auction, commencing at ...., on ...., 20.., at ...., Wisconsin. (For each time-share estate, list the name and address of the time-share owner, a general description of the time-share estate, the recording information for the deed or other instrument vesting the time-share estate in the time-share owner, and the recording information for the mortgage.) TERMS OF SALE: (State the deposit amount to be paid by the buyer at the time and place of the sale and the times for payment of the balance or the whole, as the case may be. The timeshare estates, if more than one, must be sold in individual lots unless there are no individual bidders, in which case they may be sold as a group.) Other terms to be announced at the sale. Signed .... Holder of the mortgage or authorized agent. (e) Sale procedure. 1. The foreclosure sale must take place on the time-share property in which the time-share estate exists or at another location in the same county in which that time-share property is located. The sale must be by public auction, conducted by an auctioneer registered under ch. 480 or by an attorney who is a member of the State Bar of Wisconsin. At his or her discretion, the auctioneer or attorney may dispense with the reading of the names of the time-share owners if there is more than one time-share owner, of the descriptions of the time-share estates if there is more than one time-share estate, and of the recording information if there is more than one instrument. 2. Upon the sale of the time-share estate, the time-share owner’s right to redeem the time-share estate is extinguished. Unless the successful buyer is the time-share owner, the successful buyer at the foreclosure sale takes title to the time-share estate free and clear of any outstanding assessments owed by the previous time-share owner to the managing entity or other person specified in the project instrument or time-share instrument, but subject to municipal or other taxes and to any liens and encumbrances that were recorded prior to the recording of the mortgage or the assessment lien. A buyer at a foreclosure sale under this section is not required to complete the purchase if the time-share estate is subject to outstanding liens and encumbrances, other than those included in the notice of sale, that are not stated at the sale. The buyer shall have a period of 5 days from the foreclosure sale date to determine if the time-share estate is subject to any such liens or encumbrances. 3. No later than 10 days after the foreclosure sale date, the foreclosing entity shall deliver to the successful bidder a foreclosure deed or other appropriate instrument transferring title to the time-share estate and an affidavit in recordable form attesting that all requirements described in this section have been met. Within 30 days after the delivery of the foreclosure deed or other instrument of transfer and affidavit, the buyer shall record the foreclosure deed or other instrument of transfer and affidavit with the register of deeds of the county in which the time-share estate is located. 4. Subject to s. 707.38 (5), within 30 days after delivering the foreclosure deed or other instrument of transfer and affidavit to the buyer, the foreclosing entity shall mail by 1st class mail to the last-known address of the former time-share owner and to each party that held a lien or security interest junior to that of the foreclosing entity a notice detailing the results of the foreclosure sale. (f) Application of sale proceeds. 1. No later than 30 days after the foreclosure sale, the foreclosing entity shall apply the proceeds of the sale first to the expenses of the sale and then to the amount owed to the foreclosing entity, as set forth in the notice to the former time-share owner under par. (a).
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2. Any surplus after the payments under subd. 1. are made shall be applied as follows: a. If there are any parties that held a lien or security interest junior to that of the foreclosing entity, the foreclosing entity may make an equitable and proper distribution of the surplus to those parties, or may bring an action of interpleader, turn the surplus over to the court, name the parties with the junior liens or security interests, and ask the court to determine the proper distribution of the surplus. The foreclosing entity shall recover reasonable attorney fees in any interpleader action under this subd. 2. a. b. If no party held a lien or security interest junior to that of the foreclosing entity, or if all parties holding junior liens or security interests have been paid, any surplus shall be paid to the former time-share owner. If the foreclosing entity is unable to locate the former time-share owner within one year after the foreclosure sale, the foreclosing entity shall deliver the surplus to the secretary of revenue as provided under ch. 177. (4) WAIVER OF DEFICIENCY. Any foreclosing entity that forecloses a mortgage or lien under this section waives the right to bring an action for any deficiency that may remain due to the foreclosing entity after the sale of the time-share estate. History: 2011 a. 102; 2013 a. 20.
SUBCHAPTER III MANAGEMENT OF TIME-SHARE PROPERTY 707.30 Managing entity; association of unit owners. (1) LEGAL ENTITY. Except as otherwise provided in this section, the affairs of every time-share property shall be managed by an association which, whether incorporated or unincorporated, is a legal entity for all purposes. (2) ORGANIZATION OF ASSOCIATION. (a) More than 12 time shares. 1. If the number of time shares in a time-share property exceeds 12, the developer shall establish an association to govern the time-share property not later than the date of the first conveyance of a time share in the time-share property to a purchaser. The association shall be organized as a profit or nonprofit corporation or as an unincorporated association. After it is organized, the membership of the association shall at all times consist exclusively of all of the time-share owners. 2. If a developer does not establish an association under subd. 1., any interested party, including a time-share owner or a holder of a lien in the time-share property, may petition the circuit court in the county in which the time-share property is located to establish an association and prescribe the powers of the managing entity in accordance with sub. (5). (b) Twelve or fewer time shares. If the number of time shares in the time-share property is 12 or fewer, 3 or more time-share owners may form an association to manage the time-share property. (3) DEVELOPER CONTROL PERIOD. Until an association is established under sub. (2) or unless time-share owners exercise the authority granted under sub. (6), the developer has the power and responsibility to act in all instances in which this chapter, any other provision of law, the time-share instrument or project instrument requires action by the association or its officers. (4) BOARD OF DIRECTORS. (a) All powers of the association under sub. (5) shall be exercised by and under the authority of, and the business and affairs of the association shall be conducted by, a board of directors elected in accordance with pars. (b) to (d). (b) The developer or persons designated by the developer may appoint or remove the members of the association’s board of directors, except as provided in par. (c). (c) 1. Time-share owners other than the developer may elect
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no less than one-third of the members of the board of directors of the association when time-share owners other than the developer own 15 percent or more of the time shares in a time-share property. 2. Time-share owners other than the developer may elect no less than a majority of the members of the board of directors of an association when the first of any of the following occurs: a. Three years after 50 percent of the time shares in a timeshare property have been conveyed to purchasers. b. Three months after 90 percent of the time shares in a timeshare property have been conveyed to purchasers. c. All of the time shares that will ultimately be operated by the association have been completed, some of them have been conveyed to purchasers, and none of the others is being offered for sale by the developer in the ordinary course of business. d. Some of the time shares have been conveyed to purchasers and none of the others is being constructed or offered for sale by the developer in the ordinary course of business. 3. The developer or persons designated by the developer may not remove any member of the board of directors who was elected by the time-share owners. (d) Within 60 days after the time-share owners are entitled under par. (c) to elect a member or members of the board of directors of an association, the association shall call, upon not less than 30 days’ nor more than 40 days’ notice, a meeting of the time-share owners to elect the members of the board of directors. Any time-share owner may call and give notice of a meeting under this paragraph if the association fails to do so. (5) POWERS OF MANAGING ENTITY. (a) Subject to par. (c) and the time-share instrument, the association may do any of the following: 1. Adopt, amend and repeal bylaws, rules and regulations. 2. Adopt and amend budgets for revenues, expenditures and reserves, and levy and collect assessments for time-share expenses from time-share owners. 3. Employ and dismiss employees, agents and independent contractors. 4. Commence, defend or intervene in court actions or administrative proceedings in its name on behalf of itself or 2 or more time-share owners on matters affecting the time-share property or time shares. 5. Make contracts and incur liabilities. 6. Regulate the use, maintenance, repair, replacement and modification of the time-share property. 7. Cause additional improvements to be made to the timeshare property. 8. Impose charges for late payment of assessments and, after notice and an opportunity to be heard, levy reasonable fines for violations of the time-share instrument, bylaws and rules or regulations of the association. 9. Impose reasonable charges for the preparation of resale certificates required by s. 707.48 (2) or statements of unpaid assessments. 10. Exercise any other powers conferred by the time-share instrument or bylaws. 11. Impose and receive any payments, fees or charges for the use, rental or operation of the time-share property and for services provided to time-share owners. 12. Acquire, hold, encumber and convey in its name any right, title or interest in or to real or personal property. 13. Assign its right to future income, including the right to receive assessments for time-share expenses, but only to the extent that the time-share instrument expressly so provides.
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TIME-SHARE OWNERSHIP
14. Provide for the indemnification of its directors and officers and maintain directors’ and officers’ liability insurance. 15. Exercise all other powers that may be exercised in this state by legal entities of the same type as the association. 16. Exercise any other powers necessary and proper for the governance and operation of the association. (b) Except as otherwise provided in the time-share instrument, the manager, to the extent permitted by the management contract, may exercise the powers specified in par. (a) 1. to 11. (c) 1. The time-share instrument may not impose limitations on the power of the association to deal with the developer which are more restrictive than the limitations imposed on the power of the association to deal with other persons. 2. If the time-share property is a part of a project, this section may not confer any powers on the managing entity, the developer or the time-share owners with respect to any portion of the project other than the units comprising the time-share property. (6) POWERS AND RESPONSIBILITY IF NO MANAGING ENTITY. If the number of time shares in the time-share property is 12 or fewer and no managing entity is established, the time-share owners shall have all of the following: (a) The powers in sub. (5) (a) 1. to 11., subject to any restrictions and limitations specified by the time-share instrument. If the time-share instrument is silent with respect to the manner of exercise of any of these powers, the time-share owners may exercise the power only by unanimous action. (b) The responsibilities and liabilities of an association under ss. 707.33 and 707.34. (7) CAMPGROUNDS EXCLUDED. This section does not apply to time-share property in which a campground member owns a time-share easement in a campground. History: 1987 a. 399.
707.31 Transfer of special developer rights. (1) DEFINITION. In this section, “special developer right” means a developer’s right to do any of the following: (a) Add more units to a time-share property under s. 707.21 (1) (f). (b) Maintain sales offices, management offices, models and signs under s. 707.25. (c) Appoint, control or serve as the managing entity. (2) REQUIREMENTS FOR TRANSFER. No special developer right may be transferred except by an instrument executed by both the transferor and transferee which evidences the transfer and is recorded in every county in which any portion of the time-share property is located. (3) LIABILITY OF TRANSFEROR. Upon transfer of a special developer right, the liability of a transferor shall be as follows: (a) The transferor may not be relieved of any obligation or liability arising before the transfer, and the transferor shall remain liable for warranty obligations imposed upon him or her under s. 707.53. Lack of privity may not deprive a time-share owner of standing to maintain an action to enforce an obligation of the transferor. (b) If a successor to a special developer right is an affiliate of the developer, the transferor shall be jointly and severally liable with the successor for any obligations or liabilities of the successor relating to the time-share property. (c) If the transferor retains any special developer right but transfers other special developer rights to a successor who is not an affiliate of the developer, the transferor shall be liable for any obligations or liabilities imposed on a developer either by this chapter or by the time-share instrument relating to the retained special developer rights and arising after the transfer.
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(d) A transferor is not liable for any act or omission or any breach of a contractual or warranty obligation arising from the exercise of a special developer right by a successor developer who is not an affiliate of the transferor. (4) RIGHTS WHERE FORECLOSURE OR TAX SALE. (a) 1. Unless otherwise provided in a mortgage instrument or deed of trust, in case of foreclosure of a mortgage, tax sale, judicial sale, sale by a trustee under a deed of trust, or sale under bankruptcy or receivership proceedings, of any time shares owned by a developer in the time-share property, a person acquiring title to all of the time shares being foreclosed or sold shall succeed, depending upon his or her request, to one of the following: a. All special developer rights. b. Any rights reserved in the time-share instrument under s. 707.25 allowing the developer to maintain sales offices, management offices, models and signs. 2. The judgment or instrument conveying title shall provide for transfer of only those special developer rights requested under subd. 1. (b) Upon foreclosure, tax sale, judicial sale, sale by a trustee under a deed of trust, or sale under bankruptcy or receivership proceedings of all time shares in a time-share property owned by a developer, all of the following shall occur: 1. The right to appoint, control or serve as the managing entity shall terminate unless the judgment or instrument conveying title provides for transfer of all special developer rights to a successor developer. 2. The developer shall cease to have any other special developer rights. (5) RIGHTS, LIABILITIES AND DUTIES OF SUCCESSOR. (a) A successor to any special developer right who is an affiliate of a developer is subject to all obligations and liabilities imposed on the transferor by this chapter or the time-share instrument. (b) 1. A successor to any special developer right, other than a successor described in par. (c) or (d), who is not an affiliate of a developer, is subject to any of the following obligations and liabilities imposed by this chapter or the time-share instrument: a. On a developer, which relate to a developer’s exercise or nonexercise of special developer rights. b. On the successor’s transferor, except as provided in subd. 2. 2. A successor described in subd. 1. is not subject to any of the following obligations and liabilities of the successor’s transferor: a. Liability for misrepresentations by a previous developer. b. Warranty obligations on improvements made by any previous developer or made before the property became a time-share property. c. Breach of any fiduciary obligation by any previous developer or any developer’s appointees. d. Any liability or obligation imposed on the transferor as a result of the transferor’s acts or omissions after the transfer. (c) A successor to only the right to maintain sales offices, management offices, models and signs under s. 707.25, if the successor is not an affiliate of a developer, may not exercise any other special developer right and is not subject to any liability or obligation as a developer, except the obligation to provide a timeshare disclosure statement and any liability arising as a result of providing the time-share disclosure statement. (d) If a successor to all special developer rights held by a transferor is not an affiliate of the developer and has succeeded to those rights by deed in lieu of foreclosure, judgment or an instrument conveying title to the time shares under sub. (4), the successor may declare in a recorded instrument the intention to hold
May 22, 2026, are designated by NOTES. (Published 5-22-26)
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those rights solely for transfer to another person. Thereafter, until transferring all special developer rights, that successor may not exercise any of those rights other than any right held by the transferor to appoint, control or serve as the managing entity, and any attempted exercise of those rights is void. During any period in which a successor may not exercise special developer rights under this paragraph, the successor is not subject to any liability or obligation as a developer other than liability for his or her acts and omissions in appointing, controlling or serving as the managing entity. (6) PRESERVATION OF PURCHASER’S CLAIMS AND DEFENSES. (a) Any claim or defense based on any written documentation which a purchaser may raise against the person who sold the time share to the purchaser is preserved against any assignee or successor to any of the following: 1. The contract of sale. 2. Any credit contract in connection with the sale of the time share which is executed by the purchaser and which may be retained by or assigned to the developer, an affiliate of the developer or a creditor having a contractual relationship with the developer. (b) Any recovery by a purchaser under par. (a) may not exceed the amounts paid by the purchaser under the contract. (c) Sellers and creditors shall include the following language in promissory notes executed in connection with the sale of time shares: NOTICE ANY HOLDER OF THIS CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF SERVICES OR PROPERTY OBTAINED PURSUANT TO THE CREDIT CONTRACT OR WITH THE PROCEEDS OF THE CREDIT CONTRACT. RECOVERY UNDER THE CREDIT CONTRACT BY THE DEBTOR MAY NOT EXCEED AMOUNTS PAID BY THE DEBTOR UNDER THE CREDIT CONTRACT. (7) EXTENT OF OBLIGATIONS. Nothing in this section subjects any successor to a special developer right to any claims against or other obligations of a transferor developer, other than claims and obligations arising under this chapter or any written documentation. History: 1987 a. 399.
707.32 Termination of contracts and leases of developer. (1) DEFINITION. In this section, “time-share property” does not include a campground. (1m) AUTHORITY OF THE ASSOCIATION. The following contracts or leases relating to the time-share property which are entered into before the developer ceases under s. 707.30 (4) (c) to appoint a majority of the board of directors may be terminated without penalty by the association at any time after the developer ceases to appoint a majority of the board of directors, upon not less than 90 days’ notice to the other party to the contract or lease: (a) Any management contract, employment contract, or lease of recreational or parking areas or facilities. (b) Any contract or lease between the managing entity and a developer or an affiliate of a developer. (c) Any contract or lease that is not bona fide or was unconscionable to the time-share owners when entered into under the circumstances then prevailing. (2) APPLICABILITY TO LEASES. This section does not apply to a lease if termination of the lease would terminate the time-share property or reduce its size, unless the real estate subject to the lease was included in the time-share property for the purpose of avoiding the right to terminate a lease under this section.
TIME-SHARE OWNERSHIP
707.34
(3) ACTION BY TIME-SHARE OWNER. If no association is established under s. 707.30 (2), any time-share owner, individually or on behalf of the class of time-share owners, may maintain an action under sub. (1m) to terminate a contract or lease of the developer relating to the time-share property. History: 1987 a. 399.
707.33 Upkeep of units. (1) RESPONSIBILITY OF MANAGING ENTITY AND REQUIRED ACCESS. (a) Unless otherwise provided in the time-share instrument, the managing entity shall be responsible for maintenance, repair and replacement of the timeshare units and any personal property available for use by timeshare owners in conjunction with the time-share units, other than personal property separately owned by a time-share owner. (b) Each time-share owner shall afford access through the time-share unit reasonably necessary for the purposes described in par. (a), but the managing entity shall promptly repair any damage to the time-share unit or personal property in the timeshare unit which results from the access required under this paragraph. (2) ALTERATION OF UNIT. Subject to the time-share instrument, a time-share owner may not change the appearance of a time-share unit without the consent of the managing entity. History: 1987 a. 399.