2016 Arkansas Code
Title 18 - Property
Subtitle 2 - Real Property
Chapter 14 - Arkansas Time-Share Act
Subchapter 6 - -- Financing
§ 18-14-601. Financing of time-share plans

AR Code ยง 18-14-601 (2016) What's This?

(a) In the financing of a time-share plan, the developer and its successors in interest shall retain financial records of the schedule of payments required to be made and the payments made to a person or entity that is the lienholder of an underlying blanket mortgage, deed of trust, contract of sale, or other lien or encumbrance.

(b) Any transfer of the developer's interest in the time-share plan to a third person is subject to the obligations of the developer to the extent the obligations were originally established in written documents recorded in the real estate records and not existing solely from the offering of materials or filings with a governmental authority.

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