§ 76-1707 — Instruments for time-share estates; contents

Project instruments and time-share instruments creating time-share estates 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 when applicable the method whereby additional time-share estates may be created;
(5) The formula, fraction, or percentage of the common expenses and any voting rights assigned to each time-share estate and when 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;
(7) The ownership interest if any in personal property and provisions for care and replacement; and
(8) Any other matters the developer deems appropriate.

Legislative History

Source: Laws 1980, LB 945, § 7.