California Law (Last Updated: March 4, 2014) |
Business and Professions Code - BPC |
Division 4. REAL ESTATE |
Part 2. REGULATION OF TRANSACTIONS |
Chapter 2. The Vacation Ownership and Time-Share Act of 2004 |
ARTICLE 1. General Provisions |
Section 11215.
Latest version.
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(a) The time-share instrument shall prohibit a person from seeking or obtaining, through any legal procedures, judicial partition of the time-share interest or sale of the time-share interest, in lieu of partition and shall subordinate all rights that a time-share interest owner might otherwise have as a tenant-in-common in real property to the terms of the time-share instrument.
(b) Subdivision (a) shall not be deemed to prohibit a sale of an accommodation upon termination of the time-share plan or the removal of an accommodation from the time-share plan in accordance with applicable provisions of the time-share instrument.
(Added by Stats. 2004, Ch. 697, Sec. 14. Effective January 1, 2005. Operative July 1, 2005, by Section 11288.)