(a) The managing entity may levy and enforce assessments on any time share interests in accordance with the time share instrument, and any such assessment shall constitute a debt of the owner of the interest at the time the assessment is made. Assessments and other monetary obligations are governed as follows:
(1) After giving notice to the time share owner and an opportunity to be heard, the managing entity may impose reasonable monetary penalties for violation of the time share instrument, as an assessment, as authorized by the time share instrument;
(2) Assessments may include personal charges and other amounts as authorized by the time share instrument;
(3) The managing entity may assign to the delinquent owners the costs of collection, including attorney fees, administrative fees, late fees, interest and penalties or as otherwise authorized by the time share instrument; and
(4) The amount of any assessment plus any other charges such as interest, collection costs, attorney fees, administrative fees, late fees, interest and penalties, as provided in the time share instrument or as otherwise provided by law, are a lien on the time share interest assessed from the time the assessment became due. Recording of the time share instrument, as set forth in section 42-103gg, shall constitute record notice and perfection of the lien. No further recordation of any claim of lien for assessment under this section is required. Such lien may be foreclosed in like manner as a mortgage on real property or in any other manner permitted by law.
(b) On the receipt of a written request, the managing entity shall furnish to an owner, purchaser or any lender who has a security interest in a time share interest or the time share property a statement setting forth the amount of unpaid assessments made against the owner's time share interest. The statement shall be furnished not later than ten business days after receipt of the request and is binding on the managing entity, the association, the board and every owner.
(c) If an association, developer or other managing entity files an action to foreclose the assessment lien on time share interests, the association, developer or other managing entity may join in the same action multiple defendant obligors and junior interest holders of separate time share interests, on compliance with all of the following:
(1) The foreclosure proceeding involves a single time share plan;
(2) The foreclosure proceeding is filed by a single plaintiff;
(3) The default and remedy provisions in the written instruments on which the foreclosure proceeding is based are substantially the same for each defendant; and
(4) The nature of the defaults alleged is the same for each defendant.
(d) In any foreclosure proceeding involving multiple defendants filed pursuant to subsection (c) of this section, the court shall sever for separate trial any count of the complaint in which a defense or counterclaim is timely raised by a defendant.
(P.A. 09-156, S. 23.)
History: P.A. 09-156 effective January 1, 2010.
Structure Connecticut General Statutes
Title 42 - Business, Selling, Trading and Collection Practices
Section 42-103cc. - Short title: Time Share Act.
Section 42-103dd. - Definitions.
Section 42-103ff. - Exempt communications.
Section 42-103hh. - Ownership and conveyance of time share interest.
Section 42-103ll. - Advertisements and promotions. Prohibitions. Disclosures.
Section 42-103mm. - Time share disclosure statement. Written acknowledgment of receipt.
Section 42-103nn. - Exchange disclosure statement. Filing with department. Amendments. Fees.
Section 42-103oo. - Duty and liability of developer.
Section 42-103pp. - Cancellation of purchase contract.
Section 42-103qq. - Purchase contract statements.
Section 42-103rr. - Exchange company. Liability exceptions.
Section 42-103tt. - Unfair trade practices. Use rights compliance. Nonmaterial error or omission.
Section 42-103uu. - Insurance.
Section 42-103vv. - Developer prohibitions. Penalty.
Section 42-103yy. - Assessments. Lien on time share interest. Foreclosure.
Section 42-103zz. - Costs of delinquent assessment collection. Notice to purchaser.
Section 42-103aaa. - Books and records.
Section 42-103bbb. - Time share resale broker requirements. Rebuttable presumption. Exclusions.
Section 42-103ccc. - Time share resale disclosure requirements.
Section 42-103ddd. - Time share resale agreement requirements. Exceptions.