Bill > S1052

This bill modernizes the procedures for extending and terminating time-share plans in Massachusetts. Key provisions include: 1. Allowing a time-share plan to be terminated by written agreement of at least 60% of time-share owners, with details on the termination process and distribution of assets. 2. Allowing a time-share plan to be extended by written consent of at least 60% of time-share owners, if not already specified in the original time-share instrument. 3. Stating that the bill's provisions supersede any conflicting provisions in the time-share instrument, condominium master deed, or other governing documents. 4. Establishing a one-year statute of limitations for any legal challenges arising from the termination or extension of a time-share plan. The bill aims to modernize and streamline the procedures for managing the life cycle of time-share properties in Massachusetts, providing more flexibility and clarity for time-share owners and associations.

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https://malegislature.gov/Bills/192/S1052