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 units and time periods by letter, name, number, or a combination.
- 4. Identification of time-share estates and, when applicable, the method by which 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 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 dates and conditions under which a partition may occur.
- 8. The ownership interest, if any, of personal property and provisions for care and replacement of the personal property.
- 9. Any other matters the developer deems appropriate.
85 Acts, ch 155, §6
Referred to in §557A.3