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Florida Laws: FL Statutes - Title XL Chapter 721 Vacation and Timeshare Plans

Legal Research Home > Florida Laws > Real and Personal Property > Florida Laws: FL Statutes - Title XL Chapter 721 Vacation and Timeshare Plans

Part I - Vacation Plans and Timesharing (ss. 721.01-721.32)

  • §721.01   Short title.
    This chapter shall be known and may be cited as the "Florida Vacation Plan and Timesharing Act."History.—s. 1, ch. 81-172; s. 2, ch.
  • §721.02   Purposes.
    The purposes of this chapter are to:(1) Give statutory recognition to real property timeshare plans and personal property timeshare plans in this state. (2) Establish procedures for...
  • §721.03   Scope of chapter.
    (1) This chapter applies to all timeshare plans consisting of more than seven timeshare periods over a period of at least 3 years in which the...
  • §721.04   Saving clause.
    All timeshare plans filed pursuant to chapter 2-23, Florida Administrative Code, prior to July 1, 1981, shall be deemed to be in compliance with the...
  • §721.05   Definitions.
    As used in this chapter, the term:(1) "Accommodation" means any apartment, condominium or cooperative unit, cabin, lodge, hotel or motel room, campground, cruise ship cabin, houseboat...
  • §721.056   Supervisory duties of developer.
    Notwithstanding obligations placed upon any other persons by this chapter, it is the duty of the developer to supervise, manage, and control all aspects of...
  • §721.06   Contracts for purchase of timeshare interests.
    (1) Each seller shall utilize and furnish each purchaser a fully completed and executed copy of a contract pertaining to the sale, which contract shall include...
  • §721.065   Resale purchase agreements.
    (1) An owner who acquires a timeshare interest for her or his own use and occupancy and later offers it for resale, or any agent of...
  • §721.07   Public offering statement.
    Prior to offering any timeshare plan, the developer must submit a filed public offering statement to the division for approval as prescribed by s. 721.03,...
  • §721.071   Trade secrets.
    (1) If a developer or any other person filing material with the division pursuant to this chapter expects the division to keep the material confidential on...
  • §721.075   Incidental benefits.
    Incidental benefits shall be offered only as provided in this section.(1) Accommodations, facilities, products, services, discounts, or other benefits which satisfy the requirements of this subsection...
  • §721.08   Escrow accounts; nondisturbance instruments; alternate security arrangements; transfer of legal title.
    (1) Prior to the filing of a public offering statement with the division, all developers shall establish an escrow account with an escrow agent for the...
  • §721.09   Reservation agreements; escrows.
    (1)(a) Prior to filing the filed public offering statement with the division, a seller shall not offer a timeshare plan for sale but may accept reservation...
  • §721.10   Cancellation.
    (1) A purchaser has the right to cancel the contract until midnight of the 10th calendar day following whichever of the following days occurs later:(a) The execution...
  • §721.11   Advertising materials; oral statements.
    (1)(a) A developer may file advertising material with the division for review. The division shall review any advertising material filed for review by the developer and...
  • §721.111   Prize and gift promotional offers.
    (1) As used herein, the term "prize and gift promotional offer" means any advertising material wherein a prospective purchaser may receive goods or services other than...
  • §721.12   Recordkeeping by seller.
    Each seller of a timeshare plan shall maintain among its business records the following:(1) A copy of each contract for the sale of a timeshare interest,...
  • §721.121   Recordkeeping by resale service providers and lead dealers.
    (1) Resale service providers and lead dealers shall maintain the following records for a period of 5 years from the date each piece of personal contact...
  • §721.13   Management.
    (1)(a) For each timeshare plan, the developer shall provide for a managing entity, which shall be either the developer, a separate manager or management firm, or...
  • §721.14   Discharge of managing entity.
    (1) If timeshare estates are being sold to purchasers of a timeshare plan, any contract between the owners’ association and a manager or management firm shall...
  • §721.15   Assessments for common expenses.
    (1)(a) Until a managing entity is created or provided pursuant to s. 721.13, the developer shall pay all common expenses. The timeshare instrument shall provide for...
  • §721.16   Liens for overdue assessments; liens for labor performed on, or materials furnished to, a timeshare unit.
    (1) The managing entity has a lien on a timeshare interest for any assessment levied against that timeshare interest from the date such assessment becomes due....
  • §721.165   Insurance.
    (1) Notwithstanding any provision contained in the timeshare instrument or in this chapter, chapter 718, or chapter 719 to the contrary, the managing entity shall use...
  • §721.17   Transfer of interest.
    Except in the case of a timeshare plan subject to the provisions of chapter 718 or chapter 719, no developer, owner of the underlying fee,...
  • §721.18   Exchange programs; filing of information and other materials; filing fees; unlawful acts in connection with an exchange program.
    (1) If a purchaser is offered the opportunity to subscribe to an exchange program, the seller shall deliver to the purchaser, together with the purchaser public...
  • §721.19   Provisions requiring purchase or lease of timeshare property by owners’ association or purchasers; validity.
    In any timeshare plan in which timeshare estates or personal property timeshare interests are sold, no grant or reservation made by a declaration, lease, or...
  • §721.20   Licensing requirements; suspension or revocation of license; exceptions to applicability; collection of advance fees for listings unlawful.
    (1) Any seller of a timeshare plan must be a licensed real estate broker, broker associate, or sales associate as defined in s. 475.01, except as...
  • §721.205   Resale service providers; disclosure obligations.
    (1)(a) Before engaging in resale advertising services, a resale service provider must provide to the consumer timeshare reseller:1. A description of any fees or costs related to...
  • §721.21   Purchasers’ remedies.
    An action for damages or for injunctive or declaratory relief for a violation of this chapter may be brought by any purchaser or owners’ association...
  • §721.22   Partition.
    (1) No action for partition of any timeshare unit shall lie, unless otherwise provided for in the contract between the seller and the purchaser. (2) If a...
  • §721.23   Securities.
    Timeshare plans are not securities under the provisions of chapter 517 or its successor.History.—s. 1, ch. 81-172; s. 57, ch.
  • §721.24   Firesafety.
    (1) Any:(a) Facility or accommodation of a timeshare plan, as defined in this chapter, chapter 718, or chapter 719, which is of three stories or more and...
  • §721.25   Zoning and building.
    All laws, ordinances, and regulations concerning buildings or zoning shall be construed and applied with reference to the nature and use of the real estate...
  • §721.26   Regulation by division.
    The division has the power to enforce and ensure compliance with this chapter, except for parts III and IV, using the powers provided in this...
  • §721.265   Service of process.
    (1) In addition to the methods of service provided for in the Florida Rules of Civil Procedure and the Florida Statutes, service of process may be...
  • §721.27   Annual fee for each timeshare unit in plan.
    On January 1 of each year, each managing entity of a timeshare plan located in this state shall collect as a common expense and pay...
  • §721.28   Division of Florida Condominiums, Timeshares, and Mobile Homes Trust Fund.
    All funds collected by the division and any amounts paid as fees or penalties under this chapter shall be deposited in the State Treasury to...
  • §721.29   Recording.
    If any timeshare plan accommodations or facilities are located in any jurisdiction that does not have recording laws or will not record any document or...
  • §721.301   Florida Timesharing, Vacation Club, and Hospitality Program.
    (1)(a) There is established the Florida Timesharing, Vacation Club, and Hospitality Program. The primary purpose of this program is to provide the opportunity for a public-private...
  • §721.32   Effect of ch. 2000-302.
    This act shall take effect June 15, 2000; however, all documents filed and approved in accordance with this chapter prior to June 15, 2000, or...

Part II - Vacation Clubs (ss. 721.50-721.58)

Part III - Foreclosure of Liens on Timeshare Interests (ss. 721.80-721.86)

  • §721.80   Short title.
    This part may be cited as the "Timeshare Lien Foreclosure Act."History.—s. 13, ch.
  • §721.81   Legislative purpose.
    The purposes of this part are to:(1) Recognize that timeshare interests are used for vacation experience rather than for homestead or investment purposes and that there...
  • §721.82   Definitions.
    As used in this part, the term:(1) "Amounts secured by the lien" means all amounts secured by an assessment lien or mortgage lien, including, but not...
  • §721.83   Consolidation of judicial foreclosure actions.
    (1) A complaint in a foreclosure proceeding involving timeshare interests may join in the same action multiple defendant obligors and junior interestholders of separate timeshare interests,...
  • §721.84   Appointment of a registered agent; duties.
    (1) Any obligor may appoint a registered agent on whom notices and process may be served under s. 721.85. The statement of appointment must be in...
  • §721.85   Service to notice address or on registered agent.
    (1) Service of process for a foreclosure proceeding involving a timeshare interest may be made by any means recognized by law. In addition, substituted service on...
  • §721.855   Procedure for the trustee foreclosure of assessment liens.
    The provisions of this section establish a trustee foreclosure procedure for assessment liens.(1) APPOINTMENT OF TRUSTEE.—(a) A trustee or a substitute trustee may be appointed by a...
  • §721.856   Procedure for the trustee foreclosure of mortgage liens.
    The provisions of this section establish a trustee foreclosure procedure for mortgage liens.(1) APPOINTMENT OF TRUSTEE.—(a) A trustee or a substitute trustee may be appointed by a...
  • §721.8561   Administrative fee
    An administrative fee of $50 per trustee deed for each deed recorded pursuant to the trustee foreclosure procedures set forth in ss. 721.855 and 721.856...
  • §721.86   Miscellaneous provisions.
    (1) In the event of a conflict between the provisions of this part and the other provisions of this chapter, chapter 702, or other applicable law,...

Part IV - Commissioner of Deeds (ss. 721.96-721.98)

  • §721.96   Purpose.
    The purpose of this part is to provide for the appointment of commissioners of deeds to take acknowledgments, proofs of execution, and oaths outside the...
  • §721.97   Timeshare commissioner of deeds.
    (1) The Governor may appoint commissioners of deeds to take acknowledgments, proofs of execution, or oaths in any foreign country, in international waters, or in any...
  • §721.98   Powers of the division.
    The division has no duty or authority to regulate, enforce, or ensure compliance with any provision of this part.History.—s. 14, ch.

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Last modified: May 31, 2013