557A.6 Creation of time-share estates.
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
Structure Iowa Code
Section 557A.1 - Time-share Act.
Section 557A.3 - Applicability to time-share programs located out-of-state.
Section 557A.4 - Action for partition.
Section 557A.5 - Status of time-share estates.
Section 557A.6 - Creation of time-share estates.
Section 557A.7 - Arrangements for management and operation of a time-share estate program.
Section 557A.8 - Developer control period.
Section 557A.9 - Creation of time-share uses.
Section 557A.10 - Arrangement for management and operation of a time-share use program.
Section 557A.11 - Disclosure requirements.
Section 557A.12 - Additional disclosure requirements relating to exchange programs.
Section 557A.13 - Exemptions from disclosure requirements.
Section 557A.14 - Purchaser’s and developer’s rights relating to property report.
Section 557A.15 - Release from liens.
Section 557A.16 - Enforcement and cause of action.
Section 557A.18 - Financing of time-share programs.
Section 557A.19 - Lienholder’s rights.
Section 557A.20 - Selling time-share estates — license required.