Status of Time-Share Estates With Respect to Real Property

Interests.

(a)A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or an estate for years, if a leasehold, except as expressly modified by this Chapter. The provisions of this Chapter shall supersede any contrary rule at common law.

(b)A document transferring or encumbering a time-share estate in real property shall not be rejected for recordation because of the nature or duration of that estate or interest.