summary
Introduced
03/29/2021
03/29/2021
In Committee
12/15/2022
12/15/2022
Crossed Over
12/12/2022
12/12/2022
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to time-share extension and termination procedures. The Judiciary.
AI Summary
This bill modernizes the procedures for extending and terminating time-share plans in Massachusetts. It allows time-share owners with at least 60% of eligible beneficial interests to terminate a time-share plan through a written agreement, and it allows time-share owners with at least 60% of eligible beneficial interests to extend the term of a time-share plan that is scheduled to expire. The bill also provides guidance on the distribution of proceeds from the sale of the time-share property upon termination, and it clarifies that the bill's provisions supersede any conflicting provisions in the time-share instrument or governing documents. The bill applies to all time-share plans in the Commonwealth, regardless of when they were established.
Committee Categories
Justice
Sponsors (2)
Last Action
Read; and referred to the committee on Senate Rules (on 12/15/2022)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H1830 |
| Bill | https://malegislature.gov/Bills/192/H1830.pdf |
Loading...