707.02   Definitions.
707.03   Status of time-share estates.
707.05   Variation by agreement.
707.06   Unconscionable contract.
707.07   Obligation of good faith.
707.09   Conflicts with other laws.
707.10   Zoning and other regulation of time-share projects.
707.11   Securities law; applicability.
SUBCHAPTER II
CREATION, TERMINATION AND INCIDENTS OF TIME-SHARE OWNERSHIP
707.20   Time shares in projects.
707.21   Time-share instrument.
707.215   Project and time-share property plat.
707.22   Allocation of time-share liability and voting rights.
707.23   Partition.
707.24   Termination of time shares.
707.25   Use for sales purposes.
707.26   Rights of secured lenders.
707.28   Foreclosure of time-share estates and licenses.
SUBCHAPTER III
MANAGEMENT OF TIME-SHARE PROPERTY
707.30   Managing entity; association of unit owners.
707.31   Transfer of special developer rights.
707.32   Termination of contracts and leases of developer.
707.33   Upkeep of units.
707.34   Tort and contract liability.
707.35   Insurance; repair or replacement of damaged property.
707.36   Disposition of surplus funds.
707.37   Assessments for time-share expenses; lien.
707.38   Blanket encumbrances; liens.
707.39   Initiative, referendum and recall.
SUBCHAPTER IV
PROTECTION OF PURCHASERS
707.40   Applicability; exemptions.
707.41   Time-share disclosure statement.
707.42   Exchange or reciprocal program; additional requirements.
707.43   Multilocation developer; additional requirements.
707.44   Conversion building; additional requirements.
707.45   Amendments to statement.
707.46   Contract; minimum requirements.
707.47   Purchaser's right to cancel.
707.48   Resales of time shares.
707.49   Deposits; escrow requirement.
707.50   Conversion building; tenants' rights.
707.51   Protection of campground interests.
707.52   Campgrounds; breach by member.
707.53   Warranties.
707.54   Labeling of promotional material.
707.55   Prohibited advertising and sales practices.
707.56   Developer's obligation to complete improvements.
707.57   Remedies and penalties.
707.58   Applicability to existing time shares.
707.59   Time-share units not within state.
subch. I of ch. 707 SUBCHAPTER I
GENERAL PROVISIONS
707.02 707.02 Definitions. In this chapter:
707.02(1) (1)“Affiliate of a developer" means any person who controls, is controlled by or is under common control with a developer.
707.02(2) (2)“Association" means the association organized under s. 707.30 (2).
707.02(4) (4)“Campground" means real property that is available for use by campground members under a campground contract and is intended for camping or outdoor recreation, including the use of campsites and campground amenities by campground members, but does not include a manufactured and mobile home community as defined in s. 66.0435 (1) (cg).
707.02(5) (5)“Campground amenity" means a major recreational building or recreational facility at a campground, including a swimming pool, ski hill, marina, pier, tennis court, utility-serviced campsite, clubhouse, trading post or grocery store; but does not include an individual campsite or general campsite location, any minor recreational building or facility, horseshoe pit or other minor game or athletic court, or a nonrecreational building or facility, including a restroom, road, dump station or pumphouse.
707.02(6) (6)“Campground contract" means an agreement entered into within this state evidencing a campground member's ownership of a time-share easement in a campground.
707.02(7) (7)“Campground member" means a person who enters into a campground contract with a campground operator, or a transferee of a person who enters into a campground contract with a campground operator.
707.02(8) (8)“Campground operator" means a developer who is the owner or operator of a campground for which campground contracts are offered or sold.
707.02(9) (9)“Closing" means:
707.02(9)(a) (a) With respect to time-share estates, conveyance of legal or equitable title to the time share by delivery of a deed or contract to purchase to the purchaser.
707.02(9)(b) (b) With respect to time-share easements, delivery by all parties of the documents necessary to vest in the purchaser the rights to access and use of the time-share unit.
707.02(9m) (9m)“Controls" or “controlled by" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, by common management or otherwise, including any of the following, unless the powers are held solely as security for an obligation and are not exercised:
707.02(9m)(a) (a) Owning or controlling more than 20 percent of the voting interest in a person.
707.02(9m)(b) (b) Controlling the election of a majority of the directors of a person.
707.02(9m)(c) (c) Contributing more than 20 percent of the capital of a person.
707.02(10) (10)“Conversion building" means a building that at any time before the disposition of any time share was occupied wholly or partially by persons other than purchasers and persons who occupied with the consent of purchasers.
707.02(11) (11)“Developer" means any person who offers to dispose of, or disposes of, an interest in a time share not previously disposed of or succeeds to any special developer right under s. 707.31.
707.02(12) (12)“Dispose" or “disposition" means a voluntary transfer of any legal or equitable interest in a time share, excluding the transfer or release of a security interest.
707.02(13) (13)“Dues payment" means the periodic fee paid by a campground member, other than the sales payment, for the purpose of using a campground, excluding fees charged for specific goods or services provided, such as campsite reservations, daily campsite rentals, equipment rentals or meals.
707.02(14) (14)“Manager" means any person, other than all time-share owners or the association, named or employed under the time-share instrument or project instrument to manage the time-share units.
707.02(15) (15)“Managing entity" means the manager or, if there is no manager, the association.
707.02(17) (17)“Offering" means any advertisement, inducement, solicitation or attempt to encourage any person to acquire a time share, other than as security for an obligation.
707.02(20) (20)“Project" means real property which is subject to a project instrument and contains more than one unit, including real property which contains units that are not time-share units.
707.02(21) (21)“Project instrument" means any document, recordable under s. 706.05, regulating the use, occupancy or disposition of units in an entire project, including any amendments to the document.
707.02(22) (22)“Purchaser" means any person, other than the developer, who by means of a voluntary transfer acquires a legal or equitable interest in a time share, other than as security for an obligation.
707.02(24) (24)“Time share" means a time-share estate, time-share easement, or time-share license.
707.02(25) (25)“Time-share easement" means an interest in property vesting in the purchaser and the purchaser's heirs, successors and assigns and evidencing a right to access to and use of a unit or any of several units during at least 4 separated periods over at least 4 years, including renewal options.
707.02(26) (26)“Time-share estate" means a right to occupy a unit during at least 4 separated periods over at least 4 years, together with a fee simple absolute interest or an interest for years in a time-share property.
707.02(27) (27)“Time-share expenses" means expenditures, fees, charges, liabilities or real property taxes incurred with respect to time shares by or on behalf of all time-share owners in a time-share property and imposed on the time-share units by the entity governing a project of which the time-share property is a part, together with any allocations to reserves, but excluding purchase money payable for time shares.
707.02(28) (28)“Time-share instrument" means a document creating or regulating time shares.
707.02(29) (29)“Time-share liability" means the liability for time-share expenses allocated to each time share under s. 707.21 (1) (e).
707.02(30) (30)“Time-share license" means a right to occupy a unit or any of several units under a license or lease agreement during at least 4 separated periods over at least 4 years, including renewal options, not coupled with an interest in property.
707.02(31) (31)“Time-share owner" means a person who is an owner or co-owner of a time share, other than as security for an obligation.
Loading...
Loading...
2019-20 Wisconsin Statutes updated through 2021 Wis. Act 46, through all Orders of the Controlled Substances Board filed before and in effect on June 16, 2021, and through all Supreme Court Orders filed before and in effect on April 15, 2021. Published and certified under s. 35.18. Changes effective after June 16, 2021, other than those made by Supreme Court Order No. 20-07, are designated by NOTES. (Published 6-16-21)