Within this article, the following terms have
the following meanings unless the context indicates otherwise:
MANAGER
Any person, other than all time-share owners of the association,
designated in or employed pursuant to the time-share instrument or
project instrument to manage the time-share units.
MANAGING ENTITY
The manager or, if there is no manager, the association of
unit owners.
PROJECT
Real property subject to a project instrument containing
more than one unit. A project may include units that are not time-share
units.
PROJECT INSTRUMENT
One or more recordable documents by whatever name denomination,
applying to the whole of a project and containing restrictions or
covenants regulating the use, occupancy, or disposition of units in
a project, including any amendments to the document, but excluding
any law, ordinance, or governmental regulation.
PURCHASER
Any person, other than a 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.
TIME-SHARE
A time-share estate or a time-share license.
TIME-SHARE ESTATE
Any interest in a unit or any of several units under which
the exclusive right to use, possession or occupancy of the unit circulates
among the various time-share owners in the unit in accordance with
a fixed time schedule on a periodically recurring basis for periods
of time established by the schedule coupled with a freehold estate
or an estate for years in a time-share property or a specified portion
thereof.
TIME-SHARE INSTRUMENT
One or more documents, by whatever name denominated, creating
or regulating time-shares.
TIME-SHARE OWNER
A person who is an owner or co-owner of a time-share other
than as security for an obligation.
TIME-SHARE PROPERTY
One or more time-share units subject to the same time-share
instrument, together with any other real estate or rights appurtenant
to those units.
UNIT
A real property or a portion thereof designated for separate
use.