514E-2 Status of property. (a) The temporal division of any interest in real property shall not, in and of itself, affect its status as real property.

(b) Whether a time share plan is a time share ownership plan or time share use plan, for purposes of chapter 467 a time share interest shall constitute "real estate" and the offer or sale thereof shall constitute the offer or sale of an interest in real property. [L 1980, c 186, pt of 1; am L 1981, c 81, 9]

 

 

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