California CodesBusiness and Professions Code - BPCDivision 4 — Real EstatePart 2 — Regulation of TransactionsChapter 2 — The Vacation Ownership and Time-Share Act of 2004Article 3 — Time-Share Plan RequirementsSection 11252
In a time-share plan offering time-share use interests, the developer shall not encumber the accommodations of the time-share plan in a manner that could materially and adversely affect the use rights of the purchasers of the accommodations without the written assent of not less than 51 percent of the time-share interest owners other than the developer. This section shall not prevent the developer from encumbering the purchaser’s use rights so long as the developer has sufficient protection as permitted by Section 11244.
Notes
Prohibits a developer from encumbering accommodations in a time-share use plan in a way that materially and adversely affects purchasers' use rights unless at least 51 percent of time-share interest owners other than the developer assent in writing. The restriction does not bar encumbrances when the developer has sufficient purchaser protections of the type permitted by the referenced provision.
Use as reference
Lexinter.net | California Code, Business and Professions Code - BPC § 11252 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-4/part-2/chapter-2/article-3/section-11252