§ 11254. — 11254. (Added by Stats. 2004, Ch. 697, Sec. 14.)

California § 11254.

• Jurisdiction: California
• Code BPC: Business and Professions Code - BPC
• Div. 4.: DIVISION 4. REAL ESTATE
• Part 2.: PART 2. REGULATION OF TRANSACTIONS
• Ch. 2.: CHAPTER 2. The Vacation Ownership and Time-Share Act of 2004
• Art. 3.: ARTICLE 3. Time-Share Plan Requirements

Text

(a)
In a time-share plan in which the fee or a long-term leasehold interest in all or some of the accommodations and in appurtenant real and personal property is to be transferred to the association or to a corporate trustee under a trust agreement, the conveyance shall be made prior to the closing of the escrow for the first sale of a time-share interest in the accommodation.
(b)
The developer may reserve easements in the real property conveyed for purposes reasonably related to the conduct of commercial activities in the time-share property, if the developer covenants to use the easements in a manner that will minimize any adverse impact on the use and enjoyment of the accommodation by any time-share interest owner occupying it.

Legislative History

Added by Stats. 2004, Ch. 697, Sec. 14. Effective January 1, 2005. Section operative July 1, 2005, pursuant to Section 11288.