FL
Florida House Bill H0575

Florida 2022 Regular Session

Florida House Bill H0575 Compare Versions

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1010 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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1414 A bill to be entitled 1
1515 An act relating to vacation and timeshare plans; 2
16-amending s. 721.07, F.S.; authorizing developers to 3
17-provide purchasers with the option to receive all or a 4
18-portion of the approved public offering statement and 5
19-other information electronically under certain 6
20-circumstances; authorizing the Division of Florida 7
21-Condominiums, Timeshares, and Mobile Homes to 8
22-prescribe by rule a specified form; requiring 9
23-purchasers to select the manner in which they want the 10
24-approved purchaser public offering statement 11
25-delivered; providing requirements for such form; 12
26-making technical changes; amending s. 721.075, F.S.; 13
27-removing a limitation on the aggregate represented 14
28-value of all incidental benefits; prohibiting the 15
29-transfer or assignment of an incidental benefit 16
30-without the approval of the benefit's provider; 17
31-revising the acknowledgment a purchaser must sign 18
32-relating to incidental benefits; removing the 19
33-requirement that a developer notify the division upon 20
34-learning that an incidental benefit is unavailable; 21
35-requiring a substituted incidental benefit to be made 22
36-available, rather than delivered, to a purchaser 23
37-within a specified time; making technical changes; 24
38-amending s. 721.10, F.S.; prohibiting any attempt to 25
16+amending s. 721.03, F.S.; exempting certain timeshare 3
17+plans from specified requirements relating to the 4
18+creation of a timeshare estate in a nonresidential 5
19+condominium unit under certain circumstances; making 6
20+technical changes; amending s. 721.07, F.S.; 7
21+authorizing developers to provide purchasers with the 8
22+approved public offering statement and other 9
23+information electronically under certain 10
24+circumstances; authorizing the Division of Florida 11
25+Condominiums, Timeshares, and Mobile Homes to 12
26+prescribe by rule a specified form; requiring 13
27+purchasers to sign the form selecting the manner in 14
28+which they want the approved purchaser public offering 15
29+statement delivered; providing requirements for such 16
30+form; making technical changes; amending s. 721.075, 17
31+F.S.; specifying that the payment for certain 18
32+incidental benefits is voluntary; removing a 19
33+limitation on the aggregate represented value of all 20
34+incidental benefits; removing the requirement that 21
35+incidental benefits be filed wi th the division for 22
36+review; prohibiting the transfer or assignment of an 23
37+incidental benefit without the approval of the 24
38+benefit's provider; revising the acknowledgment a 25
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4747 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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51-obtain a waiver of the cancellation right of the 26
52-purchaser; providing th at a closing is voidable under 27
53-certain circumstances; making technical changes; 28
54-amending s. 721.11, F.S.; revising the definition of 29
55-the term "advertising material"; conforming cross -30
56-references and making technical changes; amending s. 31
57-721.125, F.S.; provi ding that the board of 32
58-administration of the owners' association serves as 33
59-the termination trustee for purposes of implementing 34
60-the termination of a timeshare plan; providing an 35
61-exception; requiring the termination trustee to act in 36
62-a fiduciary capacity; p roviding powers of the 37
63-termination trustee; requiring certain unpaid amounts 38
64-to be set off against the net proceeds from the 39
65-disposition of the timeshare property; authorizing the 40
66-termination trustee to file an interpleader action in 41
67-certain circumstances and deposit the disputed funds 42
68-into the court registry; revising applicability; 43
69-making technical changes; amending s. 721.13, F.S.; 44
70-prohibiting a managing entity from sending certain 45
71-notices to the address of an owner's timeshare unit or 46
72-timeshare plan; authorizing certain meetings to be 47
73-conducted electronically; creating s. 721.131, F.S.; 48
74-authorizing a managing entity to take certain actions 49
75-before, during, or after an actual or anticipated 50
51+purchaser must sign relating to incidental benefits; 26
52+removing the requirement that the acknowledgment and 27
53+disclosure statement be filed with the division before 28
54+use; removing the requirement that a developer notify 29
55+the division upon learning that an incidental benefit 30
56+is unavailable; requiring a substituted incidental 31
57+benefit to be made ava ilable, rather than delivered, 32
58+to a purchaser within a specified time; making 33
59+technical changes; amending s. 721.10, F.S.; 34
60+prohibiting any attempt to obtain a waiver of the 35
61+cancellation right of the purchaser; providing that a 36
62+closing is voidable under cer tain circumstances; 37
63+making technical changes; amending s. 721.11, F.S.; 38
64+revising the definition of the term "advertising 39
65+material"; conforming cross -references and making 40
66+technical changes; amending s. 721.125, F.S.; 41
67+providing legislative findings; providi ng that the 42
68+board of administration serves as the termination 43
69+trustee for purposes of implementing the termination 44
70+of a timeshare plan; providing an exception; requiring 45
71+the termination trustee to act in a fiduciary 46
72+capacity; requiring certain unpaid amoun ts to be set 47
73+off against the net proceeds from the disposition of 48
74+the timeshare property; authorizing the termination 49
75+trustee to bring an interpleader action in certain 50
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8484 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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88-emergency in certain circumstances and for certain 51
89-purposes; amending s. 721.55, F.S.; authorizing 52
90-component site information to be provided to 53
91-purchasers electronically; providing that a developer 54
92-is not required to file a separate public offering 55
93-statement for certain component sites; making 56
94-technical changes; amending s. 721.551, F.S.; 57
95-conforming a cross-reference and making technical 58
96-changes; amending s. 721.82, F.S.; revising the 59
97-definition of the term "permitted delivery service"; 60
98-amending ss. 721.855 and 721.856, F.S.; revising an 61
99-obligor's rights to object to the trustee foreclosure 62
100-procedure; revising when certain notices are 63
101-considered perfected upon a trustee; revising delivery 64
102-methods for a certificate of sale; making technical 65
103-changes; conforming provisions to changes made by the 66
104-act; amending s. 721.86, F.S.; providing that certain 67
105-efforts to resolve a foreclosure are not required 68
106-under certain circumstances; reenacting ss. 69
107-721.09(1)(d) and 721.111(6), F.S., relating to 70
108-reservation agreements and escrows and prize and gift 71
109-promotional offers, respectively, to incorporate the 72
110-amendments made by the act; providing an effective 73
111-date. 74
112- 75
88+circumstances and deposit the disputed funds into the 51
89+court registry; authorizing attor ney fees and costs; 52
90+revising applicability; making technical changes; 53
91+amending s. 721.13, F.S.; prohibiting a managing 54
92+entity from sending certain notices to the address of 55
93+an owner's timeshare unit or timeshare plan; 56
94+authorizing certain meetings to be con ducted 57
95+electronically; making technical changes; creating s. 58
96+721.131, F.S.; authorizing a managing entity to take 59
97+certain actions before, during, or after an actual or 60
98+anticipated emergency in certain circumstances and for 61
99+certain purposes; amending s. 721 .52, F.S.; revising 62
100+the definition of the term "nonspecific multisite 63
101+timeshare plan"; making technical changes; amending s. 64
102+721.55, F.S.; authorizing component site information 65
103+be provided to purchasers electronically; providing 66
104+that a developer is not re quired to file a separate 67
105+public offering statement for certain component sites; 68
106+making technical changes; amending s. 721.551, F.S.; 69
107+conforming a cross-reference and making technical 70
108+changes; amending s. 721.82, F.S.; revising the 71
109+definition of the term " permitted delivery service"; 72
110+amending ss. 721.855 and 721.856, F.S.; revising an 73
111+obligor's rights to object to the trustee foreclosure 74
112+procedure; revising available methods of delivery of 75
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121121 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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125-Be It Enacted by the Legislature of the State of Florida: 76
126- 77
127- Section 1. Subsection (6) of section 721.07, Florida 78
128-Statutes, is amended to read: 79
129- 721.07 Public offering stateme nt.—Prior to offering any 80
130-timeshare plan, the developer must submit a filed public 81
131-offering statement to the division for approval as prescribed by 82
132-s. 721.03, s. 721.55, or this section. Until the division 83
133-approves such filing, any contract regarding the s ale of that 84
134-timeshare plan is subject to cancellation by the purchaser 85
135-pursuant to s. 721.10. 86
136- (6)(a) A developer may provide each purchaser with the 87
137-option to receive all or any portion of the approved public 88
138-offering statement electronically, including, but not limited 89
139-to, through a website or other Internet -based access, if the 90
140-developer discloses to the purchaser the system requirements 91
141-necessary to view the approved public offering statement. 92
142- (b) The division is authorized to prescribe by rule the 93
143-form of the approved purchaser public offering statement that 94
144-must be furnished by the developer to each purchaser and the 95
145-form on which a purchaser must select the manner in which he or 96
146-she wants the approved purchaser public offering statement 97
147-delivered. The form of the purchaser public offering statement 98
148-must provide fair, meaningful, and effective disclosure of all 99
149-aspects of the timeshare plan. The purchaser manner of delivery 100
125+certain notices and the certificate of sale; revising 76
126+when certain notices are considered perfected against 77
127+a trustee; making technical changes; conforming 78
128+provisions to changes made by the act; amending s. 79
129+721.86, F.S.; providing that certain efforts to 80
130+resolve a foreclosure are not required under certain 81
131+circumstances; reenacting ss. 721.09(1)(d) and 82
132+721.111(6), F.S., relating to reservation agreements 83
133+and escrows and prize and gift promotional offers, 84
134+respectively, to incorporate the amendments made by 85
135+the act; providing an effective date. 86
136+ 87
137+Be It Enacted by the Legis lature of the State of Florida: 88
138+ 89
139+ Section 1. Paragraph (f) is added to subsection (3) of 90
140+section 721.03, Florida Statutes, to read: 91
141+ 721.03 Scope of chapter. — 92
142+ (3) A timeshare plan which is subject to the provisions of 93
143+chapter 718 or chapter 719, if f ully in compliance with the 94
144+provisions of this chapter, is exempt from the following: 95
145+ (f) Sections 718.104(4)(o), 718.1045, and 718.110(8), 96
146+relating to the creation of timeshare estates in a 97
147+nonresidential condominium unit. 98
148+ Section 2. Subsection (6) of section 721.07, Florida 99
149+Statutes, is amended to read: 100
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158158 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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162-form must disclose the system requirements necessary to view the 101
163-approved public offering statement electronically and advise the 102
164-purchaser to not select an alternative method of receiving the 103
165-approved public offering statement unless he or she is able to 104
166-review the approved public offering statement before the 105
167-expiration of the 10 -day cancellation period under s. 721.10. 106
168- (c) For timeshare plans filed under pursuant to this part, 107
169-the developer shall furnish each purchaser with the following , 108
170-which may be provided electronically, including, but not limited 109
171-to, through a website or other Internet-based access: 110
172- 1.(a) A copy of the purchaser public offering statement 111
173-and a copy of the purchaser manner of delivery form text in the 112
174-form approved by the division for delivery to purchasers. 113
175- 2.(b) Copies of the exhibits required to be f iled with the 114
176-division under pursuant to subparagraphs (5)(ff)1., 2., 4., 5., 115
177-8., and 20. 116
178- 3.(c) A receipt for timeshare plan documents and a list 117
179-describing any exhibit to the filed public offering statement 118
180-filed with the division which is not delivered to the purchaser. 119
181-The division is authorized to prescribe by rule the form of the 120
182-receipt for timeshare plan documents and the description of 121
183-exhibits list that must be furnished to the purchaser. The 122
184-description of documents list utilized by a developer must shall 123
185-be filed with the division for review as part of the filed 124
186-public offering statement under pursuant to this section. The 125
162+ 721.07 Public offering statement. —Prior to offering any 101
163+timeshare plan, the developer must submit a filed public 102
164+offering statement to the division for approval as prescribed by 103
165+s. 721.03, s. 721.55, or this section. Until the division 104
166+approves such filing, any contract regarding the sale of that 105
167+timeshare plan is subject to cancellation by the purchaser 106
168+pursuant to s. 721.10. 107
169+ (6)(a) A developer may provide each purchaser with the 108
170+option to receive all or any portion of the approved public 109
171+offering statement electronically, including, but not limited 110
172+to, through a website or other Internet -based access, if the 111
173+developer discloses to the purchaser the system requirements 112
174+necessary to view the approv ed public offering statement. 113
175+ (b) The division is authorized to prescribe by rule the 114
176+form of the approved purchaser public offering statement that 115
177+must be furnished by the developer to each purchaser and the 116
178+form on which a purchaser must select the man ner in which he or 117
179+she wants the approved purchaser public offering statement 118
180+delivered. The form of the purchaser public offering statement 119
181+must provide fair, meaningful, and effective disclosure of all 120
182+aspects of the timeshare plan. The purchaser manner of delivery 121
183+form must disclose the system requirements necessary to view the 122
184+approved public offering statement electronically and advise the 123
185+purchaser to not select an alternative method of receiving the 124
186+approved public offering statement unless he or she is able to 125
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195195 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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199-developer is shall be required to provide the managing entity 126
200-with a copy of the approved filed public offering statement an d 127
201-any approved amendments thereto to be maintained by the managing 128
202-entity as part of the books and records of the timeshare plan 129
203-under pursuant to s. 721.13(3)(d). 130
204- 4.(d) Any other exhibit that which the developer includes 131
205-as part of the purchaser public offering statement, provided 132
206-that the developer first files the exhibit with the division. 133
207- 5.(e) An executed copy of any document that which the 134
208-purchaser signs. 135
209- 6.(f) Each purchaser shall receive A fully executed paper 136
210-copy of the purchase contract. 137
211- Section 2. Section 721.075, Florida Statutes, is amended 138
212-to read: 139
213- 721.075 Incidental benefits. —Incidental benefits may shall 140
214-be offered only as provided in this section. 141
215- (1) Accommodations, facilities, products, services, 142
216-discounts, or other benefits which satisfy the requirements of 143
217-this subsection are shall be subject to the provisions of this 144
218-section and exempt from the other provisions of this chapter 145
219-which would otherwise apply to such accommodations or facilities 146
220-if and only if: 147
221- (a) The use of or participation in the incidental benefit 148
222-by the prospective purchaser is completely volun tary, and 149
223-payment of any fee or other cost associated with the incidental 150
199+review the approved public offering statement before the 126
200+expiration of the 10 -day cancellation period under s. 721.10. 127
201+ (c) For timeshare plans filed under pursuant to this part, 128
202+the developer shall furnish each purchaser with the following , 129
203+which may be provided electronically, including, but not limited 130
204+to, through a website or other Internet -based access: 131
205+ 1.(a) A copy of the purchaser public offering statement 132
206+and a copy of the purchaser manner of delivery form text in the 133
207+form approved by the division for delivery to purchasers. 134
208+ 2.(b) Copies of the exhibits required to be filed with the 135
209+division under pursuant to subparagraphs (5)(ff)1., 2., 4., 5., 136
210+8., and 20. 137
211+ 3.(c) A receipt for timeshare plan documents and a list 138
212+describing any exhibit to the filed public offering statement 139
213+filed with the division which is not delivered to the purchaser. 140
214+The division is authorized to prescribe by rule the form of the 141
215+receipt for timeshare plan documents and the description of 142
216+exhibits list that must be furnished to the purchaser. The 143
217+description of documents list utilized by a developer must shall 144
218+be filed with the division for review as part of the filed 145
219+public offering statement under pursuant to this section. The 146
220+developer is shall be required to provide the managing entity 147
221+with a copy of the approved filed public offering statement and 148
222+any approved amendments thereto to be maintained by the managing 149
223+entity as part of the books and records of the timeshare plan 150
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232232 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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236-benefit is required only upon such use or participation. 151
237- (b) The No costs of acquisition, operation, maintenance, 152
238-or repair of the incidental benefit may not be are passed on to 153
239-purchasers of the timeshare plan as common expenses of the 154
240-timeshare plan or as common expenses of a component site of a 155
241-multisite timeshare plan. 156
242- (c) The continued availability of the incidental benefit 157
243-is not necessary in order for any accommodation or f acility of 158
244-the timeshare plan to be available for use by purchasers of the 159
245-timeshare plan in a manner consistent in all material respects 160
246-with the manner portrayed by any promotional material, 161
247-advertising, or purchaser public offering statement. 162
248- (d) The continued availability to purchasers of timeshare 163
249-plan accommodations on no greater than a one -to-one use right to 164
250-use night requirement ratio is not dependent upon continued 165
251-availability of the incidental benefit. 166
252- (e) The incidental benefit will continu e to be available 167
253-in the manner represented to prospective purchasers for up to 3 168
254-years or less after the first date that the timeshare plan is 169
255-available for use by the purchaser. Nothing herein prevents 170
256-shall prevent the renewal or extension of the availa bility of an 171
257-incidental benefit. 172
258- (f) The aggregate represented value of all incidental 173
259-benefits offered by a developer to a purchaser may not exceed 15 174
260-percent of the purchase price paid by the purchaser for his or 175
236+under pursuant to s. 721.13(3)(d). 151
237+ 4.(d) Any other exhibit that which the developer includes 152
238+as part of the purchaser public offering statement, provided 153
239+that the developer first files the exhibit with the division. 154
240+ 5.(e) An executed copy of any document that which the 155
241+purchaser signs. 156
242+ 6.(f) Each purchaser shall receive A fully executed paper 157
243+copy of the purchase contract. 158
244+ Section 3. Section 721.075, Florida Statutes, is amended 159
245+to read: 160
246+ 721.075 Incidental benefits. —Incidental benefits may shall 161
247+be offered only as provided in this section. 162
248+ (1) Accommodations, facilities, products, services, 163
249+discounts, or other benefits which satisfy the requirements of 164
250+this subsection are shall be subject to the provisions of this 165
251+section and exempt from the ot her provisions of this chapter 166
252+which would otherwise apply to such accommodations or facilities 167
253+if and only if: 168
254+ (a) The use of, or participation in, and payment for the 169
255+incidental benefit by the prospective purchaser is completely 170
256+voluntary, and payment of any fee or other cost associated with 171
257+the incidental benefit is required only upon such use or 172
258+participation. 173
259+ (b) The No costs of acquisition, operation, maintenance, 174
260+or repair of the incidental benefit may not be are passed on to 175
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269269 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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273-her timeshare interest. 176
274- (f)(g) The incidental benefit is filed with the division 177
275-for review in conjunction with the filing of a timeshare plan or 178
276-in connection with a previously filed timeshare plan. 179
277- (2) Each purchaser shall execute a separate acknowledgment 180
278-and disclosure statement with re spect to all incidental 181
279-benefits, which statement must shall include the following 182
280-information: 183
281- (a) A fair description of the incidental benefit, 184
282-including, but not limited to, any user fees or costs associated 185
283-therewith and any restrictions upon use or availability. 186
284- (b) A statement that use of or participation in the 187
285-incidental benefit by the prospective purchaser is completely 188
286-voluntary, and that payment of any fee or other cost associated 189
287-with the incidental benefit is required only upon such use or 190
288-participation. 191
289- (c) A statement that the incidental benefit is not 192
290-assignable or otherwise transferable by the prospective 193
291-purchaser or purchaser without the approval of the provider of 194
292-the incidental benefit . 195
293- (d) The following disclosure in conspicuous type 196
294-immediately above the space for the purchaser's signature: 197
295- 198
296- The incidental benefit[s] described in this statement is 199
297-[are] offered to prospective purchasers of the timeshare plan 200
273+purchasers of the ti meshare plan as common expenses of the 176
274+timeshare plan or as common expenses of a component site of a 177
275+multisite timeshare plan. 178
276+ (c) The continued availability of the incidental benefit 179
277+is not necessary in order for any accommodation or facility of 180
278+the timeshare plan to be available for use by purchasers of the 181
279+timeshare plan in a manner consistent in all material respects 182
280+with the manner portrayed by any promotional material, 183
281+advertising, or purchaser public offering statement. 184
282+ (d) The continued availabi lity to purchasers of timeshare 185
283+plan accommodations on no greater than a one -to-one use right to 186
284+use night requirement ratio is not dependent upon continued 187
285+availability of the incidental benefit. 188
286+ (e) The incidental benefit will continue to be available 189
287+in the manner represented to prospective purchasers for up to 3 190
288+years or less after the first date that the timeshare plan is 191
289+available for use by the purchaser. Nothing herein prevents 192
290+shall prevent the renewal or extension of the availability of an 193
291+incidental benefit. 194
292+ (f) The aggregate represented value of all incidental 195
293+benefits offered by a developer to a purchaser may not exceed 15 196
294+percent of the purchase price paid by the purchaser for his or 197
295+her timeshare interest. 198
296+ (g) The incidental benefit is f iled with the division for 199
297+review in conjunction with the filing of a timeshare plan or in 200
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306306 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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310-[or other permitted reference under pursuant to s. 201
311-721.11(5)(a)]. This [These] benefit[s] is [are] available for 202
312-your use for [some period up to 3 years or less] after the first 203
313-date that the timeshare plan is available for your use. The 204
314-availability of the incidental benefit[s] may or may not be 205
315-renewed or extended. You sho uld not purchase an interest in the 206
316-timeshare plan in reliance upon the continued availability or 207
317-renewal or extension of this [these] benefit[s]. 208
318- (e) A statement indicating the source of the services, 209
319-points, or other products that constitute the incide ntal 210
320-benefit. 211
321- 212
322-The acknowledgment and disclosure statement for any incidental 213
323-benefit shall be filed with the division before prior to use. 214
324-Each purchaser must shall receive a copy of his or her executed 215
325-acknowledgment and disclosure statement as a documen t required 216
326-to be provided to him or her under pursuant to s. 721.10(1)(b). 217
327- (3)(a) In the event that an incidental benefit becomes 218
328-unavailable to purchasers in the manner represented by the 219
329-developer in the acknowledgment and disclosure statement, the 220
330-developer shall pay the purchaser the greater of twice the 221
331-verifiable retail value or twice the represented value of the 222
332-unavailable incidental benefit in cash within 30 days after of 223
333-the date that the unavailability of the incidental benefit was 224
334-made known to the developer, unless the developer has reserved a 225
310+connection with a previously filed timeshare plan. 201
311+ (2) Each purchaser shall execute a separate acknowledgment 202
312+and disclosure statement with respect to all incident al 203
313+benefits, which statement must shall include the following 204
314+information: 205
315+ (a) A fair description of the incidental benefit, 206
316+including, but not limited to, any user fees or costs associated 207
317+therewith and any restrictions upon use or availability. 208
318+ (b) A statement that use of , or participation in, and 209
319+payment for the incidental benefit by the prospective purchaser 210
320+is completely voluntary , and that payment of any fee or other 211
321+cost associated with the incidental benefit is required only 212
322+upon such use or par ticipation. 213
323+ (c) A statement that the incidental benefit is not 214
324+assignable or otherwise transferable by the prospective 215
325+purchaser or purchaser without the approval of the provider of 216
326+the incidental benefit . 217
327+ (d) The following disclosure in conspicuous ty pe 218
328+immediately above the space for the purchaser's signature: 219
329+ The incidental benefit[s] described in this statement is 220
330+[are] offered to prospective purchasers of the timeshare plan 221
331+[or other permitted reference under pursuant to s. 222
332+721.11(5)(a)]. This [Th ese] benefit[s] is [are] available for 223
333+your use for [some period up to 3 years or less] after the first 224
334+date that the timeshare plan is available for your use. The 225
335335
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338338
339339
340340 CODING: Words stricken are deletions; words underlined are additions.
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343343 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
344344
345345
346346
347-substitution right under pursuant to paragraph (b) and timely 226
348-makes the substitution as required by paragraph (b). The 227
349-developer shall promptly notify the division upon learning of 228
350-the unavailability of any incidental benefit. 229
351- (b) If an incidental benefit becomes unavailable as a 230
352-result of events beyond the control of the developer, the 231
353-developer may reserve the right to substitute a replacement 232
354-incidental benefit of a type, quality, value, and term 233
355-reasonably similar to the unavailable incidental benefit. If the 234
356-developer reserves the right to substitute, the acknowledgment 235
357-and disclosure statement required under pursuant to paragraph 236
358-(2)(a) must shall contain the following conspicuous disclosure: 237
359- 238
360- In the event any incidental benefit described in this 239
361-statement becomes unavailable as a result of events beyond the 240
362-control of the developer, the developer reserves the right to 241
363-substitute a replacement incidental benefit of a type, quality, 242
364-value, and term reasonably similar to the unavailable incidental 243
365-benefit. 244
366- 245
367-The substituted incidental benefit must shall be made available 246
368-delivered to the purchaser within 30 days after the date that 247
369-the unavailability of the incidental benefit was made known to 248
370-the developer. 249
371- (4) All purchaser remedies under pursuant to s. 721.21 are 250
347+availability of the incidental benefit[s] may or may not be 226
348+renewed or extended. You should not purchase an interest in the 227
349+timeshare plan in reliance upon the continued availability or 228
350+renewal or extension of this [these] benefit[s]. 229
351+ (e) A statement indicating the source of the services, 230
352+points, or other products that constitute the incidental 231
353+benefit. 232
354+ 233
355+The acknowledgment and disclosure statement for any incidental 234
356+benefit shall be filed with the division prior to use. Each 235
357+purchaser must shall receive a copy of his or her executed 236
358+acknowledgment and disclosure statement as a document required 237
359+to be provided to him or her under pursuant to s. 721.10(1)(b). 238
360+ (3)(a) In the event that an incidental benefit becomes 239
361+unavailable to purchasers in the manner represented by the 240
362+developer in the acknowledgment and disclosure statement, the 241
363+developer shall pay the purchaser the greater of twice the 242
364+verifiable retail value or twice the represented value of the 243
365+unavailable incidental benefit in cash within 30 days after of 244
366+the date that the unavailability of the incidental benefit was 245
367+made known to the devel oper, unless the developer has reserved a 246
368+substitution right under pursuant to paragraph (b) and timely 247
369+makes the substitution as required by paragraph (b). The 248
370+developer shall promptly notify the division upon learning of 249
371+the unavailability of any inciden tal benefit. 250
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380380 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
381381
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384-shall be available for any violation of the provisions of this 251
385-section. 252
386- Section 3. Subsections (2) and (3) of section 721.10, 253
387-Florida Statutes, are renumbered as subsections (3) and (4), 254
388-respectively, and subsection (1) of that section is amended to 255
389-read: 256
390- 721.10 Cancellation. — 257
391- (1) A purchaser has the right to cancel the contract until 258
392-midnight on of the 10th calendar day after the later of 259
393-following whichever of the following days occurs later: 260
394- (a) The execution date of the contract; or 261
395- (b) The day on which the purchaser received the last of 262
396-all documents required to be provided to him or her, including 263
397-the notice required by s. 721.07(2)(d)2., if applicable. 264
398- (2) This right of cancellation may not be waived by any 265
399-purchaser or by any other person on behalf of the purchaser , and 266
400-any attempt to obtain a waiver of the cancellation right of the 267
401-purchaser is unlawful . If a purchaser waives, knowingly or 268
402-unknowingly, his or her right of cancellation and a closing 269
403-occurs, such closing is voidable at the option of the purchaser 270
404-for up to 1 year after the date that would have been the 271
405-expiration of the cancellation period under subsection (1). 272
406-Furthermore, a no closing may not occur until the cancellation 273
407-period of the timeshare purchaser has expired , and if a closing 274
408-occurs before the expiration of the cancellation period, . Any 275
384+ (b) If an incidental benefit becomes unavailable as a 251
385+result of events beyond the control of the developer, the 252
386+developer may reserve the right to substitute a replacement 253
387+incidental benefit of a type, quality, value, and term 254
388+reasonably similar to the unavailable incidental benefit. If the 255
389+developer reserves the right to substitute, the acknowledgment 256
390+and disclosure statement required under pursuant to paragraph 257
391+(2)(a) must shall contain the following conspicuous disclosure: 258
392+ In the event any incidental benefit described in this 259
393+statement becomes unavailable as a result of events beyond the 260
394+control of the developer, the developer reserves the right to 261
395+substitute a replacement incidental benefit of a type, quality, 262
396+value, and term reasonably s imilar to the unavailable incidental 263
397+benefit. 264
398+ 265
399+The substituted incidental benefit must shall be made available 266
400+delivered to the purchaser within 30 days after the date that 267
401+the unavailability of the incidental benefit was made known to 268
402+the developer. 269
403+ (4) All purchaser remedies under pursuant to s. 721.21 are 270
404+shall be available for any violation of the provisions of this 271
405+section. 272
406+ Section 4. Subsections (2) and (3) of section 721.10, 273
407+Florida Statutes, are renumbered as subsections (3) and (4), 274
408+respectively, subsection (1) of that section is amended, and a 275
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417417 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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421-attempt to obtain a waiver of the cancellation right of the 276
422-timeshare purchaser, or to hold a cl osing prior to the 277
423-expiration of the cancellation period, is unlawful and such 278
424-closing is voidable at the option of the purchaser for up to 5 279
425-years after such closing a period of 1 year after the expiration 280
426-of the cancellation period . However, nothing in t his section 281
427-precludes the execution of documents in advance of closing for 282
428-delivery after expiration of the cancellation period. 283
429- Section 4. Paragraphs (b) and (e) of subsection (6) of 284
430-section 721.11, Florida Statutes, are amended, and paragraph (i) 285
431-is added to subsection (2) of that section, to read: 286
432- 721.11 Advertising materials; oral statements. — 287
433- (2) The term "advertising material" includes: 288
434- (i) Any message, text, picture, video, or other content 289
435-made available, delivered, or shared electronicall y through the 290
436-Internet or any other Internet -based access. However, 291
437-advertising material under this paragraph does not need to 292
438-contain the disclosures required under subsection (5) as long as 293
439-such disclosures are provided to the purchaser before the 294
440-purchaser takes any affirmative action pursuant to a promotion. 295
441- (6) Failure to provide cancellation rights or disclosures 296
442-as required by this subsection in connection with the sale of a 297
443-regulated short-term product constitutes misrepresentation in 298
444-accordance with paragraph (4)(a). Any agreement relating to the 299
445-sale of a regulated short -term product must be regulated as 300
421+new subsection (2) is created, to read: 276
422+ 721.10 Cancellation. — 277
423+ (1) A purchaser has the right to cancel the contract until 278
424+midnight on of the 10th calendar day after the later of 279
425+following whichever of the following days occurs later : 280
426+ (a) The execution date of the contract; or 281
427+ (b) The day on which the purchaser received the last of 282
428+all documents required to be provided to him or her, including 283
429+the notice required by s. 721.07(2)(d)2., if applicable. 284
430+ (2) This right of cancellation may not be waived by any 285
431+purchaser or by any other person on behalf of the purchaser , and 286
432+any attempt to obtain a waiver of the cancellation right of the 287
433+purchaser is unlawful . If a purchaser waives, knowingly or 288
434+unknowingly, his or her right of cancellation and a closing 289
435+occurs, such closing is voidable at the option of the purchaser 290
436+for up to 1 year after the date that would have been the 291
437+expiration of the cancellation period under subsection (1). 292
438+Furthermore, a no closing may not occur until the cancellation 293
439+period of the timeshare purchaser has expired , and if a closing 294
440+occurs before the expiration of the cancellation period, . Any 295
441+attempt to obtain a waiver of the cancellation right of the 296
442+timeshare purchaser, or to hold a closing prior to the 297
443+expiration of the cancellation period, is unlawful and such 298
444+closing is voidable at the option of the purchaser for up to 5 299
445+years after such closing a period of 1 year after the expiration 300
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454454 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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457457
458-advertising material and is subject to the following: 301
459- (b) A purchaser of a regulated short -term product has the 302
460-right to cancel the agreement until midnight of the 10th 303
461-calendar day after following the execution date of the 304
462-agreement. The right of cancellation may not be waived by the 305
463-prospective purchaser or by any other person on behalf of the 306
464-prospective purchaser. Notice of cancellation must be given in 307
465-the same manner prescribed for giving notice of cancellation 308
466-under s. 721.10(3) s. 721.10(2). If the prospective purchaser 309
467-gives a valid notice of cancellation or is otherwise entitled to 310
468-cancel the sale, the funds or other property received f rom or on 311
469-behalf of the prospective purchaser, or the proceeds thereof, 312
470-must be returned to the prospective purchaser. Such refund must 313
471-be made in the same manner prescribed for refunds under s. 314
472-721.10. 315
473- (e) If the seller provides the purchaser with the r ight to 316
474-cancel the purchase of a regulated short -term product at any 317
475-time up to 7 days before prior to the purchaser's reserved use 318
476-of the accommodations, but in no event less than 10 days, and if 319
477-the seller refunds the total amount of all payments made by the 320
478-purchaser reduced by the proportion of any benefits the 321
479-purchaser has actually received before prior to the effective 322
480-date of the cancellation, the specific value of which has been 323
481-agreed to between the purchaser and the seller, the short -term 324
482-product offer is shall be exempt from the requirements of 325
458+of the cancellation period . However, nothing in this section 301
459+precludes the execution of documents in advance of closing for 302
460+delivery after expiration of the cancellation period. 303
461+ Section 5. Paragraphs (b) and (e) of subsection (6) of 304
462+section 721.11, Florida Statutes, are amended, and paragraph (i) 305
463+is added to subsection (2) of that section, to read: 306
464+ 721.11 Advertising materials; oral statements. — 307
465+ (2) The term "advertising material" includes: 308
466+ (i) Any message, text, picture, video, or other content 309
467+made available, delivered, or sha red electronically through the 310
468+Internet or any other Internet -based access. However, 311
469+advertising material under this paragraph does not need to 312
470+contain the disclosures required under subsection (5) as long as 313
471+such disclosures are provided to the purchaser before the 314
472+purchaser takes any affirmative action pursuant to a promotion. 315
473+ (6) Failure to provide cancellation rights or disclosures 316
474+as required by this subsection in connection with the sale of a 317
475+regulated short-term product constitutes misrepresentatio n in 318
476+accordance with paragraph (4)(a). Any agreement relating to the 319
477+sale of a regulated short -term product must be regulated as 320
478+advertising material and is subject to the following: 321
479+ (b) A purchaser of a regulated short -term product has the 322
480+right to cancel the agreement until midnight of the 10th 323
481+calendar day after following the execution date of the 324
482+agreement. The right of cancellation may not be waived by the 325
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491491 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
492492
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494494
495-paragraphs (b), (c), and (d). An agreement relating to the sale 326
496-of the regulated short -term product made pursuant to this 327
497-paragraph must contain a statement setting forth the 328
498-cancellation and refund rights of the prospective purchaser in a 329
499-manner that is consistent with this section and s. 721.10, 330
500-including a description of the length of the cancellation right, 331
501-a statement that the purchaser's intent to cancel must be in 332
502-writing and sent to the seller at a specified address, a 333
503-statement that the notice of cancellation is effective upon the 334
504-date sent, and a statement that any attempt to waive the 335
505-cancellation right is unlawful. The right of cancellation 336
506-provided to the purchaser under pursuant to this paragraph may 337
507-not be waived by the prospective purchaser or by any other 338
508-person on behalf of the prospective purchaser. Notice of 339
509-cancellation must be given in the same manner prescribed for 340
510-giving notice of cancellation under s. 721.10(3) pursuant to s. 341
511-721.10(2). If the prospective purchaser gives a valid notice of 342
512-cancellation, or is otherwise entitled to cancel the sale, the 343
513-funds or other property received from or on behalf of the 344
514-prospective purchaser, or the proceeds thereof, shall be 345
515-returned to the prospe ctive purchaser. Such refund shall be made 346
516-in the manner prescribed for refunds under s. 721.10. 347
517- Section 5. Section 721.125, Florida Statutes, is amended 348
518-to read: 349
519- 721.125 Termination of timeshare plans. — 350
495+prospective purchaser or by any other person on behalf of the 326
496+prospective purchaser. Notice of cancellation must be given in 327
497+the same manner prescribed for giving notice of cancellation 328
498+under s. 721.10(3) s. 721.10(2). If the prospective purchaser 329
499+gives a valid notice of cancellation or is otherwise entitled to 330
500+cancel the sale, the funds or other pr operty received from or on 331
501+behalf of the prospective purchaser, or the proceeds thereof, 332
502+must be returned to the prospective purchaser. Such refund must 333
503+be made in the same manner prescribed for refunds under s. 334
504+721.10. 335
505+ (e) If the seller provides the pur chaser with the right to 336
506+cancel the purchase of a regulated short -term product at any 337
507+time up to 7 days before prior to the purchaser's reserved use 338
508+of the accommodations, but in no event less than 10 days, and if 339
509+the seller refunds the total amount of all payments made by the 340
510+purchaser reduced by the proportion of any benefits the 341
511+purchaser has actually received before prior to the effective 342
512+date of the cancellation, the specific value of which has been 343
513+agreed to between the purchaser and the seller, the s hort-term 344
514+product offer is shall be exempt from the requirements of 345
515+paragraphs (b), (c), and (d). An agreement relating to the sale 346
516+of the regulated short -term product made pursuant to this 347
517+paragraph must contain a statement setting forth the 348
518+cancellation and refund rights of the prospective purchaser in a 349
519+manner that is consistent with this section and s. 721.10, 350
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528528 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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531531
532- (1) Unless the timeshare instrument provides otherwise, 351
533-the vote or written consent, or both, of 60 percent of all 352
534-voting interests in a timeshare plan may terminate the term of 353
535-the timeshare plan at any time. If a timeshare plan is 354
536-terminated under pursuant to this section, the termination has 355
537-immediate effect pursuant to applicable law and the timeshare 356
538-instrument as if the effective date of the termination were the 357
539-original date of termination. 358
540- (2) The board of administration of the owners' association 359
541-shall serve as termination trustee for the purposes of 360
542-implementing the termination of a timeshare plan, unless another 361
543-person is appointed as the termination trustee during the 362
544-termination of the timeshare plan under subsection (1) or by the 363
545-court. The termination trustee acts in a fiduciary capac ity to 364
546-the owners of timeshare interests in a timeshare plan. The 365
547-termination trustee has all other powers necessary to comply 366
548-with the requirements of this section. 367
549- (3) If a termination vote or the written consent under 368
550-pursuant to subsection (1) is pro posed for a component site of a 369
551-multisite timeshare plan located in the this state, the proposed 370
552-termination is effective only if the person authorized to make 371
553-additions or substitutions of accommodations and facilities 372
554-pursuant to the timeshare instrument also approves the 373
555-termination. 374
556- (4)(a)(3)(a) If the timeshare property is managed by an 375
532+including a description of the length of the cancellation right, 351
533+a statement that the purchaser's intent to cancel must be in 352
534+writing and sent to the seller at a specified address, a 353
535+statement that the notice of cancellation is effective upon the 354
536+date sent, and a statement that any attempt to waive the 355
537+cancellation right is unlawful. The right of cancellation 356
538+provided to the purchaser under pursuant to this paragraph may 357
539+not be waived by the prospective purchaser or by any other 358
540+person on behalf of the prospective purchaser. Notice of 359
541+cancellation must be given in the same manner prescribed for 360
542+giving notice of cancellation under s. 721.10(3) pursuant to s. 361
543+721.10(2). If the prospective purchaser gives a valid notice of 362
544+cancellation, or is otherwise entitled to cancel the sale, the 363
545+funds or other property received from or on behalf of the 364
546+prospective purchaser, or the proceeds thereof, shall be 365
547+returned to the prospective purchaser. Such refund shall be made 366
548+in the manner prescribed for refunds under s. 721.10. 367
549+ Section 6. Section 721.125, Florida Statutes, is amended 368
550+to read: 369
551+ 721.125 Termination of timeshare plans. — 370
552+ (1) The Legislature finds t hat the continued enforcement 371
553+of timeshare plan covenants that encumber the land and restrict 372
554+the use of real property may create economic waste and areas of 373
555+disrepair that threaten the safety and welfare of the owners or 374
556+the public or cause obsolescence o f the property for its 375
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565565 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
566566
567567
568568
569-owners' association that is separate from any underlying 376
570-condominium, cooperative, or homeowners' association, the 377
571-termination of a timeshare plan does not change the corporate 378
572-status of the owners' association. The owners' association may 379
573-continue continues to exist only for the purposes of concluding 380
574-its affairs, prosecuting and defending actions by or against it, 381
575-collecting and discharging obligations, disposing of and 382
576-conveying its property, collecting and dividing its assets, and 383
577-otherwise complying with this subsection. 384
578- 1. After termination of a timeshare plan, the board of 385
579-administration of the owners' association shall serve as the 386
580-termination trustee, and in such fiduciary capacity may bring an 387
581-action in partition on behalf of the tenants in common in each 388
582-former timeshare property or sell the former timeshare property 389
583-in any manner and to any person who is approved by a majority of 390
584-all such tenants in common. The termination trustee also has all 391
585-other powers reasonably necessary to effect the partit ion or 392
586-sale of the former timeshare property, including the power to 393
587-maintain the property during the pendency of any partition 394
588-action or sale. 395
589- 2. All reasonable expenses incurred by the termination 396
590-trustee relating to the performance of its duties pursu ant to 397
591-this subsection, including the reasonable fees of attorneys and 398
592-other professionals, must be paid by the tenants in common of 399
593-the former timeshare property subject to partition or sale, 400
569+intended use. It is the public policy of the state to provide a 376
570+method to preserve the value of the property interests and the 377
571+rights of alienation thereof that owners have in the timeshare 378
572+property before and after termination of a timeshare plan. 379
573+Accordingly unless the timeshare instrument provides otherwise , 380
574+the vote or written consent, or both, of 60 percent , unless the 381
575+timeshare instrument provides for a lower percentage, of all 382
576+voting interests in a timeshare plan may terminate the term of 383
577+the timeshare plan at any time. If a timeshare plan is 384
578+terminated under pursuant to this section, the termination has 385
579+immediate effect pursuant to applicable law and the timeshare 386
580+instrument as if the effective date of the termination were the 387
581+original date of termination. 388
582+ (2) The board of administration of the owners' association 389
583+shall serve as termination trustee for the purposes of 390
584+implementing the termination of the timeshare plan, unless 391
585+another person is appointed as the termination trustee during 392
586+the vote or in the written consent, or both, under subsection 393
587+(1) or by the court. The termination trustee acts in a fiduciary 394
588+capacity to the owners of timeshare interests in a timeshar e 395
589+plan. 396
590+ (3) If a termination vote or the written consent under 397
591+pursuant to subsection (1) is proposed for a component site of a 398
592+multisite timeshare plan located in the this state, the proposed 399
593+termination is effective only if the person authorized to mak e 400
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602602 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
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604604
605605
606-proportionate to their respective ownership interests. 401
607- 3. The termination trustee shall adopt reasonable 402
608-procedures to implement the partition or sale of the former 403
609-timeshare property and comply with the requirements of this 404
610-subsection. 405
611- (b) If a timeshare plan is terminated in a timeshare 406
612-condominium or timeshare cooperative and the underlying 407
613-condominium or cooperative is not simultaneously terminated, a 408
614-majority of the tenants in common in each former timeshare unit 409
615-present and voting in person or by proxy at a meeting of such 410
616-tenants in common conducted by the t ermination trustee, or 411
617-conducted by the board of administration of the condominium or 412
618-cooperative association, if such association managed the former 413
619-timeshare property, shall designate a voting representative for 414
620-the unit and file a voting certificate wit h the condominium or 415
621-cooperative association. The voting representative may vote on 416
622-all matters at meetings of the condominium or cooperative 417
623-association, including termination of the condominium or 418
624-cooperative. 419
625- (c) After termination of a timeshare plan, the termination 420
626-trustee may bring an action in partition on behalf of the 421
627-tenants in common in each former timeshare property or sell the 422
628-former timeshare property in any manner and to any person who is 423
629-approved by a majority of all such tenants in common or the 424
630-voting representative, as applicable. The termination trustee 425
606+additions or substitutions of accommodations and facilities 401
607+pursuant to the timeshare instrument also approves the 402
608+termination. 403
609+ (4)(a)(3)(a) If the timeshare property is managed by an 404
610+owners' association that is separate from any underlying 405
611+condominium, cooperative, or homeowners' association, the 406
612+termination of a timeshare plan does not change the corporate 407
613+status of the owners' association. The owners' association may 408
614+continue continues to exist only for the purposes of concluding 409
615+its affairs, prosecu ting and defending actions by or against it, 410
616+collecting and discharging obligations, disposing of and 411
617+conveying its property, collecting and dividing its assets, and 412
618+otherwise complying with this subsection. 413
619+ 1. After termination of a timeshare plan, the board of 414
620+administration of the owners' association shall serve as the 415
621+termination trustee, and in such fiduciary capacity may bring an 416
622+action in partition on behalf of the tenants in common in each 417
623+former timeshare property or sell the former timeshare pro perty 418
624+in any manner and to any person who is approved by a majority of 419
625+all such tenants in common. The termination trustee also has all 420
626+other powers reasonably necessary to effect the partition or 421
627+sale of the former timeshare property, including the power to 422
628+maintain the property during the pendency of any partition 423
629+action or sale. 424
630+ 2. All reasonable expenses incurred by the termination 425
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643-has all other powers reasonably necessary to effect the 426
644-partition or sale of the former timeshare property, including 427
645-the power to maintain the property during the pendency of any 428
646-partition action or sale. 429
647- (d) All reasonable expenses incurred by the termination 430
648-trustee relating to the performance of his or her duties under 431
649-this subsection, including reasonable attorney fees or fees for 432
650-other professionals, must be paid by the tenants in common of 433
651-the former timeshare property subject to partition or sale, 434
652-proportionate to their respective ownership interests. 435
653- (e) The timeshare trustee shall adopt reasonable 436
654-procedures to implement the partition or sale of the former 437
655-timeshare property and to comply with the requirements of this 438
656-subsection. 439
657- (f) Any unpaid assessments, taxes, late fees, interest, 440
658-fines, charges, or other amounts due and owing to the managing 441
659-entity by an owner of a timeshare interest must be set off 442
660-against, and reduce the share of, the net proceeds from the 443
661-disposition of the timeshare property that are allocated to such 444
662-owner. 445
663- (g) If an owner of a timeshare interest or any other 446
664-person claiming an interest in such owner's allocated share of 447
665-the net proceeds from the disposition of the timeshare property 448
666-disputes the distribution of such proceeds, the termination 449
667-trustee may file an interpleader action in circuit court and 450
643+trustee relating to the performance of its duties pursuant to 426
644+this subsection, including the reasonable fees of attorneys and 427
645+other professionals, must be paid by the tenants in common of 428
646+the former timeshare property subject to partition or sale, 429
647+proportionate to their respective ownership interests. 430
648+ 3. The termination trustee shall adopt reasonable 431
649+procedures to implemen t the partition or sale of the former 432
650+timeshare property and comply with the requirements of this 433
651+subsection. 434
652+ (b) If a timeshare plan is terminated in a timeshare 435
653+condominium or timeshare cooperative and the underlying 436
654+condominium or cooperative is not s imultaneously terminated, a 437
655+majority of the tenants in common in each former timeshare unit 438
656+present and voting in person or by proxy at a meeting of such 439
657+tenants in common conducted by the termination trustee, or 440
658+conducted by the board of administration of the condominium or 441
659+cooperative association, if such association managed the former 442
660+timeshare property, shall designate a voting representative for 443
661+the unit and file a voting certificate with the condominium or 444
662+cooperative association. The voting represent ative may vote on 445
663+all matters at meetings of the condominium or cooperative 446
664+association, including termination of the condominium or 447
665+cooperative. 448
666+ (c) After termination of a timeshare plan, the termination 449
667+trustee may bring an action in partition on behal f of the 450
668668
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676676 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
677677
678678
679679
680-deposit the disputed funds into the court registry, at which 451
681-time the timeshare property and the proceeds distributed 452
682-pursuant to a disposition of the timeshare property are free of 453
683-all claims and liens of the parties to the interpleader action. 454
684- (5)(4) This section applies only to all a timeshare plans 455
685-in the state that exist on or after July 1, 202 2, provided that 456
686-the timeshare plan has existed that has been in existence for at 457
687-least 25 years as of the effective date of the termination of 458
688-the timeshare plan vote or consent required by subsection (1) . 459
689- Section 6. Subsection (14) is added to sectio n 721.13, 460
690-Florida Statutes, to read: 461
691- 721.13 Management.— 462
692- (14) Notwithstanding any provision of chapter 718 or 463
693-chapter 719 to the contrary: 464
694- (a) A managing entity may not send notices that are 465
695-required to be delivered to an owner of a timeshare interest 466
696-pursuant to chapter 718, chapter 719, or this chapter to the 467
697-address of the owner's timeshare unit or the address of the 468
698-owner's timeshare plan. 469
699- (b) The board of administration or the members of an 470
700-owners' association may conduct board meetings or owners' 471
701-meetings electronically and without the need for the meeting to 472
702-be held at a physical location. 473
703- Section 7. Section 721.131, Florida Statutes, is created 474
704-to read: 475
680+tenants in common in each former timeshare property or sell the 451
681+former timeshare property in any manner and to any person who is 452
682+approved by a majority of all such tenants in common or the 453
683+voting representative, as applicable. The termination trus tee 454
684+has all other powers reasonably necessary to effect the 455
685+partition or sale of the former timeshare property, including 456
686+the power to maintain the property during the pendency of any 457
687+partition action or sale. 458
688+ (d) All reasonable expenses incurred by the termination 459
689+trustee relating to the performance of his or her duties under 460
690+this subsection, including reasonable attorney fees or fees for 461
691+other professionals, must be paid by the tenants in common of 462
692+the former timeshare property subject to partition or s ale, 463
693+proportionate to their respective ownership interests. 464
694+ (e) The timeshare trustee shall adopt reasonable 465
695+procedures to implement the partition or sale of the former 466
696+timeshare property and to comply with the requirements of this 467
697+subsection. 468
698+ (f) Any unpaid assessments, taxes, late fees, interest, 469
699+fines, charges, or other amounts due and owing to the managing 470
700+entity by an owner of a timeshare interest must be set off 471
701+against, and reduce the share of, the net proceeds from the 472
702+disposition of the timesha re property that are allocated to such 473
703+owner. 474
704+ (g) If an owner of a timeshare interest or any other 475
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713713 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
714714
715715
716716
717- 721.131 Managing entity emergency powers. — 476
718- (1) Notwithstanding any provisio n to the contrary in 477
719-chapter 718, chapter 719, or the timeshare instrument, to the 478
720-extent allowed by law and consistent with s. 617.0830, a 479
721-managing entity, including a board of administration for an 480
722-owners' association, in response to an actual or anticip ated 481
723-emergency, as defined in s. 252.34(4), including, but not 482
724-limited to, a state of emergency declared by the Governor 483
725-pursuant to s. 252.36, in the locale in which the accommodations 484
726-or facilities of a timeshare plan are located, may exercise the 485
727-following powers: 486
728- (a) Cancel and reschedule any board of administration 487
729-meetings or owners' meetings. 488
730- (b) Name as assistant officers persons who are not 489
731-directors of the owners' association. Assistant officers have 490
732-the same authority as the executive officer s to whom they are 491
733-assisting during the state of emergency to accommodate the 492
734-incapacity or unavailability of any officer of the owners' 493
735-association. 494
736- (c) Temporarily relocate the managing entity's principal 495
737-office or designate alternative principal offic es. 496
738- (d) Enter into agreements with counties and municipalities 497
739-to assist them with emergency matters. 498
740- (e) Implement an emergency plan that may include, but is 499
741-not limited to, shutting down or off elevators; electricity; 500
717+person claiming an interest in such owner's allocated share of 476
718+the net proceeds from the disposition of the timeshare property 477
719+disputes the distribution of such proceeds, the termination 478
720+trustee may file an interpleader action in circuit court and 479
721+deposit the disputed funds into the court registry, at which 480
722+time the timeshare property and the proceeds distributed 481
723+pursuant to a disposition of the timeshare pr operty are free of 482
724+all claims and liens of the parties to the interpleader action. 483
725+If the termination trustee files an interpleader action, both 484
726+the termination trustee and the prevailing party may recover 485
727+reasonable attorney fees and costs from the nonpre vailing party. 486
728+ (5)(4) This section applies only to all a timeshare plans 487
729+in the state that exist on or after July 1, 2022, provided that 488
730+the timeshare plan has existed that has been in existence for at 489
731+least 25 years as of the effective date of the termi nation of 490
732+the timeshare plan vote or consent required by subsection (1) . 491
733+ Section 7. Subsection (14) is added to section 721.13, 492
734+Florida Statutes, to read: 493
735+ 721.13 Management.— 494
736+ (14) Notwithstanding any provision of chapter 718 or 495
737+chapter 719 to the contrary: 496
738+ (a) A managing entity may not send notices that are 497
739+required to be delivered to an owner of a timeshare interest 498
740+pursuant to chapter 718, chapter 719, or this chapter to the 499
741+address of the owner's timeshare unit or the address of the 500
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750750 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
751751
752752
753753
754-water, sewer, or security system s; or air conditioners. 501
755- (f) Determine that all or any portion of the timeshare 502
756-property is unavailable for entry, use, or occupancy by the 503
757-owners or the owners' family members, tenants, guests, agents, 504
758-invitees, exchangers, or other occupants of the time share 505
759-property to protect the health, safety, or welfare of such 506
760-persons or to protect the accommodations or facilities of the 507
761-timeshare plan. 508
762- (g) Require the evacuation of the timeshare property and 509
763-provide notice of such evacuation to any owner or othe r occupant 510
764-located on the timeshare property. If any owner or other 511
765-occupant fails or refuses to evacuate the timeshare property 512
766-after the managing entity has required evacuation and provided 513
767-notice, the managing entity is immune from liability or injury 514
768-to persons or property arising from such failure or refusal. 515
769- (h) Determine whether all or a portion of the timeshare 516
770-property, including recreational and other accommodations or 517
771-facilities, may be safely used, inhabited, or occupied, and 518
772-whether all or a portion of such property needs to be closed for 519
773-a period of time. However, such determination is not conclusive 520
774-as to any determination of habitability pursuant to the 521
775-timeshare instrument. 522
776- (i) Mitigate further damage, including taking action to 523
777-contract for the removal of debris and to prevent or mitigate 524
778-the spread of fungus, including, but not limited to, mold or 525
754+owner's timeshare plan. 501
755+ (b) The board of administration or the members of an 502
756+owners' association may conduct board meetings or owners' 503
757+meetings electronically and without the need for the meeting to 504
758+be held at a physical location. 505
759+ Section 8. Section 721.131, F lorida Statutes, is created 506
760+to read: 507
761+ 721.131 Managing entity emergency powers. — 508
762+ (1) Notwithstanding any provision to the contrary in 509
763+chapter 718, chapter 719, or the timeshare instrument, to the 510
764+extent allowed by law and consistent with s. 617.0830, a 511
765+managing entity, including a board of administration for an 512
766+owners' association, in response to an actual or anticipated 513
767+emergency, as defined in s. 252.34(4), including, but not 514
768+limited to, a state of emergency declared by the Governor 515
769+pursuant to s. 252.36, in the locale in which the accommodations 516
770+or facilities of a timeshare plan are located, may exercise the 517
771+following powers: 518
772+ (a) Conduct board of administration meetings and owners' 519
773+meetings, in whole or in part, by telephone, real -time 520
774+videoconferencing, or similar real -time electronic or video 521
775+communication with notice given as is practicable. Such notice 522
776+may be given in any practicable manner, including publication, 523
777+radio, United States mail, the Internet, electronic 524
778+transmission, public service ann ouncements, and conspicuous 525
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787787 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
788788
789789
790790
791-mildew, by removing and disposing of wet drywall, insulation, 526
792-carpet, cabinetry, or other fixtures on or within the timeshare 527
793-property. 528
794- (j) Regardless of any provision to the contrary and even 529
795-if such authority does not specifically appear in the timeshare 530
796-instrument, levy special assessments without a vote of the 531
797-owners. 532
798- (k) Without a vote of the owners, borrow money and pledge 533
799-managing entity assets as collateral to fund emergency actions 534
800-or repairs and carry out the duties of the managing entity when 535
801-operating funds are insufficient. This paragraph does not limit 536
802-the general authority of the managing entity to borrow money, 537
803-subject to such restrictions as are contained in the timeshare 538
804-instrument. 539
805- (l) Issue emergency rules and regulations, or temporarily 540
806-modify existing rules and regulations, regarding the operation 541
807-of the timeshare plan reservation system as required under ss. 542
808-721.13(3)(g) and 721.13(12)(a) or the multisite timeshare plan 543
809-reservation system as required under s. 721.56(6). This 544
810-authority includes issuing or modifying emergency rules and 545
811-regulations to add, modify, or suspend use rights to address the 546
812-loss of or restricted use of purchasers' timeshare interests as 547
813-a result of the emergency or to comply with federal, state, or 548
814-local orders. For this limited purpose, enforcement of the one -549
815-to-one use right to use night requirement ratio as defined in s. 550
791+posting on the timeshare property or any other means the 526
792+managing entity deems reasonable under the circumstances. Notice 527
793+of decisions of the managing entity may also be communicated as 528
794+provided in this paragraph. 529
795+ (b) Cancel and reschedule any board of administration 530
796+meetings or owners' meetings. 531
797+ (c) Name as assistant officers persons who are not 532
798+directors of the owners' association. Assistant officers have 533
799+the same authority as the executive officers to whom they are 534
800+assisting during the state of emergency to accommodate the 535
801+incapacity or unavailability of any officer of the owners' 536
802+association. 537
803+ (d) Relocate the managing entity's principal office or 538
804+designate alternative principal offices. 539
805+ (e) Enter into agreements with c ounties and municipalities 540
806+to assist them with emergency matters. 541
807+ (f) Implement an emergency plan that may include, but is 542
808+not limited to, shutting down or off elevators; electricity; 543
809+water, sewer, or security systems; or air conditioners. 544
810+ (g) Determine that all or any portion of the timeshare 545
811+property is unavailable for entry, use, or occupancy by the 546
812+owners or the owners' family members, tenants, guests, agents, 547
813+invitees, exchangers, or other occupants of the timeshare 548
814+property to protect the health, safety, or welfare of such 549
815+persons or to protect the accommodations or facilities of the 550
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824824 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
825825
826826
827827
828-721.05(25) may be susp ended, and any subsequent imbalance with 551
829-respect to the one-to-one use right to use night requirement 552
830-ratio that results because of the implementation of an emergency 553
831-rule or regulation is not a violation of this chapter. 554
832- (m) Notwithstanding s. 721.13(3) (c)2., transfer funds in 555
833-any deferred maintenance or capital expenditure reserve account 556
834-to any operating account without the consent of a majority of 557
835-the purchasers of the timeshare plan. 558
836- (n) Take any other actions as reasonably necessary to 559
837-protect the health, safety, and welfare of the owners and the 560
838-owners' family members, tenants, guests, agents, invitees, 561
839-exchangers, and other occupants or the timeshare property. 562
840- (2) The special powers authorized under subsection (1) may 563
841-be exercised before, durin g, or after the actual or anticipated 564
842-emergency but are limited to the time and scope reasonably 565
843-necessary to: 566
844- (a) Protect the health, safety, and welfare of the owners 567
845-and the owners' family members, tenants, guests, agents, 568
846-invitees, exchangers, and ot her occupants. 569
847- (b) Protect the timeshare property. 570
848- (c) Mitigate or avoid harm, injury, or damage to persons 571
849-or property. 572
850- (d) Take emergency actions or make emergency repairs. 573
851- Section 8. Paragraph (l) of subsection (4) and paragraph 574
852-(l) of subsection (7) of section 721.55, Florida Statutes, are 575
828+timeshare plan. 551
829+ (h) Require the evacuation of the timeshare property. If 552
830+any owner or other occupant fails or refuses to evacuate the 553
831+timeshare property after the ma naging entity has required 554
832+evacuation, the managing entity is immune from liability or 555
833+injury to persons or property arising from such failure or 556
834+refusal. 557
835+ (i) Determine whether all or a portion of the timeshare 558
836+property, including recreational and other accommodations or 559
837+facilities, may be safely used, inhabited, or occupied, and 560
838+whether all or a portion of such property needs to be closed for 561
839+a period of time. However, such determination is not conclusive 562
840+as to any determination of habitability pursuant to the 563
841+timeshare instrument. 564
842+ (j) Mitigate further damage, including taking action to 565
843+contract for the removal of debris and to prevent or mitigate 566
844+the spread of fungus, including, but not limited to, mold or 567
845+mildew, by removing and disposing of wet drywa ll, insulation, 568
846+carpet, cabinetry, or other fixtures on or within the timeshare 569
847+property. 570
848+ (k) Contract, on behalf of any owner or owners, for items 571
849+or services for which the owners are otherwise individually 572
850+responsible, but which are necessary as a resu lt of the 573
851+emergency. In such event, the owner or owners on whose behalf 574
852+the managing entity has contracted are responsible for 575
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861861 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
862862
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864864
865-amended to read: 576
866- 721.55 Multisite timeshare plan public offering 577
867-statement.—Each filed public offering statement for a multisite 578
868-timeshare plan shall contain the information required by this 579
869-section and shall comply with the provisions of s. 721.07, 580
870-except as otherwise provided therein. The division is authorized 581
871-to provide by rule the method by which a developer must provide 582
872-such information to the division. Each multisite timeshare plan 583
873-filed public offering statement shall contain the following 584
874-information and disclosures: 585
875- (4) A text, which shall include, where applicable, the 586
876-information and disclosures set forth in paragraphs (a) -(l). 587
877- (l) A description of each component site, which 588
878-description may be disclosed in a written, graphic, tabular, or 589
879-other form approved by the division or provided to the purchaser 590
880-electronically, including, but not limited to, through a website 591
881-or other Internet-based access. The description of each 592
882-component site must shall include all of the following 593
883-information: 594
884- 1. The name and address of each component site. 595
885- 2. The number of accommodations, timeshare interests, and 596
886-timeshare periods, expressed in periods of 7-day use 597
887-availability, committed to the multisite timeshare plan and 598
888-available for use by purchasers. 599
889- 3. Each type of accommodation in terms of the number of 600
865+reimbursing the managing entity for the actual costs of the 576
866+items or services, and the managing entity may use its lien 577
867+authority provided under s. 721.16 to enforce collection of the 578
868+costs. 579
869+ (l) Regardless of any provision to the contrary and even 580
870+if such authority does not specifically appear in the timeshare 581
871+instrument, levy special assessments without a vote of the 582
872+owners. 583
873+ (m) Without a vote of the owners, borrow money and pledge 584
874+managing entity assets as collateral to fund emergency actions 585
875+or repairs and carry out the duties of the managing entity when 586
876+operating funds are insufficient. This paragraph does not limit 587
877+the general authority of the managing entity to borrow money, 588
878+subject to such restrictions as are contained in the timeshare 589
879+instrument. 590
880+ (n) Issue emergency rules and regulations, or temporarily 591
881+modify existing rules and regulations, regarding the operation 592
882+of the timeshare plan reservation system as required under ss. 593
883+721.13(3)(g) and 721.13(12)(a) or the multisite timeshare plan 594
884+reservation system as required under s. 721.56(6). This 595
885+authority includes issuing or modifying emergency rules and 596
886+regulations to add, modify, or suspend use rights to address the 597
887+loss of or restricted use of purchasers' timeshare interests as 598
888+a result of the emergency or to comply with federal, state, or 599
889+local orders. For this limited purpose, enforcement of the one -600
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898898 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
899899
900900
901901
902-bedrooms, bathrooms, sleeping capacity, and whether or not the 601
903-accommodation contains a full kitchen. As used in For purposes 602
904-of this subparagraph description, the term "full kitchen" means 603
905-a full kitchen shall mean a kitchen with at least having a 604
906-minimum of a dishwasher, range, sink, oven, and refrigerator. 605
907- 4. A description of faci lities available for use by the 606
908-purchaser at each component site, including the following: 607
909- a. The intended use of the facility, if not apparent from 608
910-the description. 609
911- b. Any user fees associated with a purchaser's use of the 610
912-facility. 611
913- 5. A cross-reference to the location in the public 612
914-offering statement of the description of any priority 613
915-reservation features which may affect a purchaser's ability to 614
916-obtain a reservation in the component site. 615
917- (7) The following documents shall be included as exhibits 616
918-to the filed public offering statement, if applicable: 617
919- (l)1. If the multisite timeshare plan contains any 618
920-component sites located in the this state, the information 619
921-required by s. 721.07(5) pertaining to each such component site , 620
922-unless exempt under pursuant to s. 721.03. 621
923- 2. If the purchaser will receive an interest in a specific 622
924-multisite timeshare plan component site located outside of the 623
925-this state but which is offered in the this state, the 624
926-information required by s. 721.07(5) pertaining to that 625
902+to-one use right to use night requirement ratio as defined in s. 601
903+721.05(25) may be suspended, and any subsequent imbalance with 602
904+respect to the one-to-one use right to use night requirement 603
905+ratio that results because of the implementation of an emergency 604
906+rule or regulation is not a violation of this chapter. 605
907+ (o) Notwithstanding s. 721.13(3)(c)2., transfer funds in 606
908+any deferred maintenance or capital expenditure reserve account 607
909+to any operating account without the consent of a majority of 608
910+the purchasers of the timeshare plan. 609
911+ (p) Take any other actions as reasonably necessary to 610
912+protect the health, safety, and welfare of the managing entity 611
913+and the owners and the owners' family members, tenants, guests, 612
914+agents, invitees, exchangers, and other occupants or the 613
915+timeshare property. 614
916+ (2) The special powers authorized under subsection (1) may 615
917+be exercised before, during, or after the actual or anticipated 616
918+emergency but are limited to the time and scope reasonably 617
919+necessary to: 618
920+ (a) Protect the health, safety, and welfare of the 619
921+managing entity and the owners and the owners' family members, 620
922+tenants, guests, agents, invitees, exchangers, and other 621
923+occupants. 622
924+ (b) Protect the timeshare property. 623
925+ (c) Mitigate or avoid harm, injury, or damage to persons 624
926+or property. 625
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935935 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
936936
937937
938938
939-component site., provided, However, for purposes of this 626
940-paragraph, that the provisions of s. 721.07(5)(t) shall only 627
941-requires require disclosure of information related to the 628
942-estimated budget for the timeshare plan and purchaser's expenses 629
943-as required by the jurisdiction in which the component site is 630
944-located. 631
945- 632
946-A developer is not required to file a separate public offering 633
947-statement for any component site located within or outside the 634
948-state in order to include the component site in the multisite 635
949-timeshare plan. 636
950- Section 9. Paragraph (c) of subsection (2) of section 637
951-721.551, Florida Statutes, is amended to read: 638
952- 721.551 Delivery of multisite timeshare plan purchaser 639
953-public offering statement. — 640
954- (2) The developer shall furnish each purchaser with the 641
955-following: 642
956- (c) If the purchaser will receive an interest in a 643
957-specific multisite timeshare plan component site located in the 644
958-this state, the developer must shall also furnish the purchaser 645
959-with the information required to be delivered under s. 646
960-721.07(6)(c)1. and 2. pursuant to s. 721.07(6)(a) and (b) for 647
961-that component site. 648
962- Section 10. Subsection (11) of section 721.82, Florida 649
963-Statutes, is amended to read: 650
939+ (d) Take emergency actions or make emergency repairs. 626
940+ Section 9. Subsection (5) of section 721.52, Florida 627
941+Statutes, is amended to read: 628
942+ 721.52 Definitions. —As used in this chapter, the term: 629
943+ (5) "Nonspecific multisite timeshare plan" means a 630
944+multisite timeshare plan with respect to which a purchaser 631
945+receives a right to use all of the accommodations and 632
946+facilities, if any, of the multisite timeshare plan through the 633
947+reservation system, but no specific right to use any particular 634
948+accommodations and facilities for the remaining term of the 635
949+multisite timeshare plan in the event that the reservation 636
950+system is terminated for any reason before prior to the 637
951+expiration of the term of the multisite time share plan. 638
952+Timeshare estates or timeshare licenses may be offered in a 639
953+nonspecific multisite timeshare plan. 640
954+ Section 10. Paragraph (l) of subsection (4) and paragraph 641
955+(l) of subsection (7) of section 721.55, Florida Statutes, are 642
956+amended to read: 643
957+ 721.55 Multisite timeshare plan public offering 644
958+statement.—Each filed public offering statement for a multisite 645
959+timeshare plan shall contain the information required by this 646
960+section and shall comply with the provisions of s. 721.07, 647
961+except as otherwise provi ded therein. The division is authorized 648
962+to provide by rule the method by which a developer must provide 649
963+such information to the division. Each multisite timeshare plan 650
964964
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972972 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
973973
974974
975975
976- 721.82 Definitions. —As used in this part, the term: 651
977- (11) "Permitted delivery service" means delivery to an e-652
978-mail address, if provided by the obligor, with evidence that the 653
979-lienholder received the e -mail. Permitted delivery service is 654
980-only authorized for obligors who reside outside the United 655
981-States any nationally recognized common carrier delive ry 656
982-service, international airmail service that allows for return 657
983-receipt service, or a service recognized by an international 658
984-jurisdiction as the equivalent of certified, registered mail for 659
985-that jurisdiction. 660
986- Section 11. Paragraph (a) of subsection (3 ), paragraphs 661
987-(a) and (b) of subsection (5), paragraph (b) of subsection (6), 662
988-paragraph (f) of subsection (7), and paragraph (b) of subsection 663
989-(14) of section 721.855, Florida Statutes, are amended to read: 664
990- 721.855 Procedure for the trustee foreclosure o f 665
991-assessment liens.—The provisions of this section establish a 666
992-trustee foreclosure procedure for assessment liens. 667
993- (3) OBLIGOR'S RIGHTS. — 668
994- (a) The obligor may object to the lienholder's use of the 669
995-trustee foreclosure procedure for a specific default within 30 670
996-days after receipt of the notice required under subsection (5) 671
997-any time before the sale of the timeshare interest under 672
998-subsection (7) by delivering a written objection to the trustee 673
999-using the objection form provided for in subsection (5). If the 674
1000-trustee receives the written objection from the obligor, the 675
976+filed public offering statement shall contain the following 651
977+information and disclosures: 652
978+ (4) A text, which shall include, where applicable, the 653
979+information and disclosures set forth in paragraphs (a) -(l). 654
980+ (l) A description of each component site, which 655
981+description may be disclosed in a written, graphic, tabular, or 656
982+other form approved by the division or provided to the purchaser 657
983+electronically, including, but not limited to, through a website 658
984+or other Internet-based access. The description of each 659
985+component site must shall include all of the following 660
986+information: 661
987+ 1. The name and address of each component site. 662
988+ 2. The number of accommodations, timeshare interests, and 663
989+timeshare periods, expressed in periods of 7 -day use 664
990+availability, committed to the multisite timeshare plan and 665
991+available for use by purchasers. 666
992+ 3. Each type of accommo dation in terms of the number of 667
993+bedrooms, bathrooms, sleeping capacity, and whether or not the 668
994+accommodation contains a full kitchen. As used in For purposes 669
995+of this subparagraph description, the term "full kitchen" means 670
996+a full kitchen shall mean a kitchen with at least having a 671
997+minimum of a dishwasher, range, sink, oven, and refrigerator. 672
998+ 4. A description of facilities available for use by the 673
999+purchaser at each component site, including the following: 674
1000+ a. The intended use of the facility, if not appar ent from 675
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10091009 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
10101010
10111011
10121012
1013-trustee may not proceed with the trustee foreclosure procedure 676
1014-as to the default specified in the notice of default and intent 677
1015-to foreclose under subsection (5), and the lienholder may 678
1016-proceed thereafter only with a judicial foreclosure action as to 679
1017-that specified default. 680
1018- (5) NOTICE OF DEFAULT AND INTENT TO FORECLOSE. — 681
1019- (a) In any foreclosure proceeding under this section, the 682
1020-trustee is required to notify the obligor of the proceeding by 683
1021-sending the obligor a written notice of default and intent to 684
1022-foreclose to the notice address of the obligor by certified 685
1023-mail, registered mail, or permitted delivery service, return 686
1024-receipt requested, and by first -class mail, postage prepaid, as 687
1025-follows: 688
1026- 1. The notice of default and intent to foreclose must 689
1027-shall identify the obligor, the notice address of the obligor, 690
1028-the legal description of the timeshare interest, the nature of 691
1029-the default, the amounts secured by the lien, and a per diem 692
1030-amount to account for further accrual of the amounts secured by 693
1031-the lien and must shall state the method by which the obligor 694
1032-may cure the default, including the period of time after the 695
1033-date of the notice of default and intent to foreclose within 696
1034-which the obligor may cure the default. 697
1035- 2. The notice of default and intent to f oreclose must 698
1036-shall include an objection form with which the obligor can 699
1037-object to the use of the trustee foreclosure procedure by 700
1013+the description. 676
1014+ b. Any user fees associated with a purchaser's use of the 677
1015+facility. 678
1016+ 5. A cross-reference to the location in the public 679
1017+offering statement of the description of any priority 680
1018+reservation features which may affect a purchaser's a bility to 681
1019+obtain a reservation in the component site. 682
1020+ (7) The following documents shall be included as exhibits 683
1021+to the filed public offering statement, if applicable: 684
1022+ (l)1. If the multisite timeshare plan contains any 685
1023+component sites located in the this state, the information 686
1024+required by s. 721.07(5) pertaining to each such component site , 687
1025+unless exempt under pursuant to s. 721.03. 688
1026+ 2. If the purchaser will receive an interest in a specific 689
1027+multisite timeshare plan component site located outside of the 690
1028+this state but which is offered in the this state, the 691
1029+information required by s. 721.07(5) pertaining to that 692
1030+component site., provided, However, for purposes of this 693
1031+paragraph, that the provisions of s. 721.07(5)(t) shall only 694
1032+requires require disclosure of information related to the 695
1033+estimated budget for the timeshare plan and purchaser's expenses 696
1034+as required by the jurisdiction in which the component site is 697
1035+located. 698
1036+ 699
1037+A developer is not required to file a separate public offering 700
10381038
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1039+HB 575 2022
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10411041
10421042
10431043 CODING: Words stricken are deletions; words underlined are additions.
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10461046 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
10471047
10481048
10491049
1050-signing and returning the objection form to the trustee. The 701
1051-objection form must shall identify the obligor, the notice 702
1052-address of the obligor, the timeshare interest, and the return 703
1053-address of the trustee and must shall state: "The undersigned 704
1054-obligor exercises the obligor's right to object to the use of 705
1055-the trustee foreclosure procedure contained in section 721.855, 706
1056-Florida Statutes." 707
1057- 3. The notice of default and intent to foreclose must 708
1058-shall also contain a statement in substantially the following 709
1059-form: 710
1060-If you fail to cure the default as set forth in this notice or 711
1061-take other appropriate action with regard to this foreclosur e 712
1062-matter, you risk losing ownership of your timeshare interest 713
1063-through the trustee foreclosure procedure established in section 714
1064-721.855, Florida Statutes. You may choose to sign and send to 715
1065-the trustee, within 30 days after receipt of this notice, the 716
1066-enclosed objection form, exercising your right to object to the 717
1067-use of the trustee foreclosure procedure. Upon the trustee's 718
1068-receipt of your signed objection form, the foreclosure of the 719
1069-lien with respect to the default specified in this notice is 720
1070-shall be subject to the judicial foreclosure procedure only. You 721
1071-have the right to cure your default in the manner set forth in 722
1072-this notice at any time before the trustee's sale of your 723
1073-timeshare interest. If you do not object to the use of the 724
1074-trustee foreclosure pro cedure, you will not be subject to a 725
1050+statement for any component site located within or outside the 701
1051+state in order to include the component site in the multistate 702
1052+timeshare plan. 703
1053+ Section 11. Paragraph (c) of subsection (2) of section 704
1054+721.551, Florida Statutes, is amended to read: 705
1055+ 721.551 Delivery of multisite timeshare plan purchaser 706
1056+public offering statement. — 707
1057+ (2) The developer shall furnish each purchaser with the 708
1058+following: 709
1059+ (c) If the purchaser will receive an interest in a 710
1060+specific multisite timeshare plan component site located in the 711
1061+this state, the developer must shall also furnish the purchaser 712
1062+with the information required to be delivered under s. 713
1063+721.07(6)(c)1. and 2. pursuant to s. 721.07(6)(a) and (b) for 714
1064+that component site. 715
1065+ Section 12. Subsection (11) of section 721.82, Florida 716
1066+Statutes, is amended to read: 717
1067+ 721.82 Definitions. —As used in this part, the term: 718
1068+ (11) "Permitted delivery service" means delivery to an e-719
1069+mail address, if provided by the obligor, with evidence that the 720
1070+lienholder received the e -mail. Permitted deliver y service is 721
1071+only authorized for obligors who reside outside the United 722
1072+States any nationally recognized common carrier delivery 723
1073+service, international airmail service that allows for return 724
1074+receipt service, or a service recognized by an international 725
10751075
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1076+HB 575 2022
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10831083 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
10841084
10851085
10861086
1087-deficiency judgment even if the proceeds from the sale of your 726
1088-timeshare interest are insufficient to offset the amounts 727
1089-secured by the lien. 728
1090- 4. The trustee must shall also mail a copy of the notice 729
1091-of default and intent to foreclose, without the objection form, 730
1092-to the notice address of any junior interestholder by certified 731
1093-mail, registered mail, or permitted delivery service, return 732
1094-receipt requested, and by first -class mail, postage prepaid. 733
1095- 5. Notice under this paragraph is considered perfected 734
1096-upon the trustee receiving the return receipt bearing the 735
1097-signature of the obligor or junior interestholder, as 736
1098-applicable, within 30 calendar days after the trustee sent the 737
1099-notice under this paragra ph. Notice under this paragraph is not 738
1100-perfected if: 739
1101- a. The notice is returned as undeliverable within 30 740
1102-calendar days after the trustee sent the notice; 741
1103- b. The trustee cannot, in good faith, ascertain that the 742
1104-obligor or junior interestholder, as app licable, is the person 743
1105-who signed the receipt because all or a portion of the obligor's 744
1106-or junior interestholder's name is not on the signed receipt or 745
1107-because the trustee cannot otherwise determine that the obligor 746
1108-or junior interestholder signed the rece ipt; or 747
1109- b.c. The receipt from the obligor or junior 748
1110-interestholder, as applicable, is returned or refused within 30 749
1111-calendar days after the trustee sent the notice. 750
1087+jurisdiction as the equivalent of certified, registered mail for 726
1088+that jurisdiction. 727
1089+ Section 13. Paragraph (a) of subsection (3), paragraphs 728
1090+(a) and (b) of subsection (5), paragraph (b) of subsection (6), 729
1091+paragraph (f) of subsection (7), and paragraph (b) o f subsection 730
1092+(14) of section 721.855, Florida Statutes, are amended to read: 731
1093+ 721.855 Procedure for the trustee foreclosure of 732
1094+assessment liens.—The provisions of this section establish a 733
1095+trustee foreclosure procedure for assessment liens. 734
1096+ (3) OBLIGOR'S RIGHTS.— 735
1097+ (a) The obligor may object to the lienholder's use of the 736
1098+trustee foreclosure procedure for a specific default within 20 737
1099+days after receipt of the notice required under subsection (5) 738
1100+any time before the sale of the timeshare interest under 739
1101+subsection (7) by delivering a written objection to the trustee 740
1102+using the objection form provided for in subsection (5). If the 741
1103+trustee receives the written objection from the obligor, the 742
1104+trustee may not proceed with the trustee foreclosure procedure 743
1105+as to the default specified in the notice of default and intent 744
1106+to foreclose under subsection (5), and the lienholder may 745
1107+proceed thereafter only with a judicial foreclosure action as to 746
1108+that specified default. 747
1109+ (5) NOTICE OF DEFAULT AND INTENT TO FORECLOSE. — 748
1110+ (a) In any foreclosure proceeding under this section, the 749
1111+trustee is required to notify the obligor of the proceeding by 750
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11201120 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
11211121
11221122
11231123
1124- (b) If the notice required by paragraph (a) is returned as 751
1125-undeliverable within 30 cale ndar days after the trustee sent the 752
1126-notice, the trustee must shall perform a diligent search and 753
1127-inquiry to obtain a different address for the obligor or junior 754
1128-interestholder. For purposes of this paragraph, any address 755
1129-known and used by the lienholder f or sending regular mailings or 756
1130-other communications from the lienholder to the obligor or 757
1131-junior interestholder, as applicable, must shall be included 758
1132-with other addresses produced from the diligent search and 759
1133-inquiry, if any. 760
1134- 1. If the trustee's diligen t search and inquiry produces 761
1135-an address different from the notice address, the trustee must 762
1136-shall mail a copy of the notice by certified mail, registered 763
1137-mail, or permitted delivery service, return receipt requested, 764
1138-and by first-class mail, postage prepa id, to the new address. 765
1139-Notice under this subparagraph is considered perfected upon the 766
1140-trustee receiving the return receipt bearing the signature of 767
1141-the obligor or junior interestholder, as applicable, within 30 768
1142-calendar days after the trustee sent the no tice under this 769
1143-subparagraph. Notice under this subparagraph is not perfected if 770
1144-the receipt from the obligor or junior interestholder, as 771
1145-applicable, is refused or, returned, or the trustee cannot, in 772
1146-good faith, ascertain that the obligor or junior inter estholder, 773
1147-as applicable, is the person who signed the receipt because all 774
1148-or a portion of the obligor's or junior interestholder's name is 775
1124+sending the obligor a written notice of default and intent to 751
1125+foreclose to the notice address of the obligor by certified mail 752
1126+or, registered mail, or permitted delivery service, return 753
1127+receipt requested;, and by first-class mail, postage prepaid ; or 754
1128+permitted delivery service and first -class mail, postage 755
1129+prepaid, as follows: 756
1130+ 1. The notice of default and intent to foreclose must 757
1131+shall identify the obligor, the notice address of the obligor, 758
1132+the legal description of the timeshare interest, the nature of 759
1133+the default, the amounts secured by the lien, and a per diem 760
1134+amount to account for further accrual of the amounts secured by 761
1135+the lien and must shall state the method by which the obligor 762
1136+may cure the default, including the period of time after the 763
1137+date of the notice of default and intent to foreclose within 764
1138+which the obligor may cure the default. 765
1139+ 2. The notice of default and intent to f oreclose must 766
1140+shall include an objection form with which the obligor can 767
1141+object to the use of the trustee foreclosure procedure by 768
1142+signing and returning the objection form to the trustee. The 769
1143+objection form must shall identify the obligor, the notice 770
1144+address of the obligor, the timeshare interest, and the return 771
1145+address of the trustee and must shall state: "The undersigned 772
1146+obligor exercises the obligor's right to object to the use of 773
1147+the trustee foreclosure procedure contained in section 721.855, 774
1148+Florida Statutes." 775
11491149
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1150+HB 575 2022
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1161-not on the signed receipt or because the trustee cannot 776
1162-otherwise determine that the obligor or junior interestholde r 777
1163-signed the receipt. If the trustee does not perfect notice under 778
1164-this subparagraph, the trustee must shall perfect service in the 779
1165-manner set forth in paragraph (c). 780
1166- 2. If the trustee's diligent search and inquiry does not 781
1167-locate a different address for the obligor or junior 782
1168-interestholder, as applicable, the trustee may perfect notice 783
1169-against that person under paragraph (c). 784
1170- (6) NOTICE OF SALE. — 785
1171- (b) The trustee must shall send a copy of the notice of 786
1172-sale within 3 business days after the date it is submitted for 787
1173-recording, by first-class mail or permitted delivery service , if 788
1174-applicable, and first -class mail, postage prepaid, to the notice 789
1175-addresses of the obligor and any junior interestholder. 790
1176- (7) MANNER OF SALE. — 791
1177- (f) On the date of the sale and upon receipt of the cash 792
1178-or certified funds due from the highest bidder, the trustee 793
1179-shall issue to the highest bidder a certificate of sale stating 794
1180-that a foreclosure conforming to the requirements of this 795
1181-section has occurred, including the time, locati on, and date of 796
1182-the sale;, that the timeshare interest was sold ;, the amounts 797
1183-secured by the lien;, and the amount of the highest bid. A copy 798
1184-of the certificate of sale must shall be mailed by certified 799
1161+ 3. The notice of default and intent to foreclose must 776
1162+shall also contain a statement in substantially the following 777
1163+form: 778
1164+If you fail to cure the default as set forth in this notice or 779
1165+take other appropriate action with regard to this foreclosur e 780
1166+matter, you risk losing ownership of your timeshare interest 781
1167+through the trustee foreclosure procedure established in section 782
1168+721.855, Florida Statutes. You may choose to sign and send to 783
1169+the trustee, within 20 days after receipt of this notice, the 784
1170+enclosed objection form, exercising your right to object to the 785
1171+use of the trustee foreclosure procedure. Upon the trustee's 786
1172+receipt of your signed objection form, the foreclosure of the 787
1173+lien with respect to the default specified in this notice is 788
1174+shall be subject to the judicial foreclosure procedure only. You 789
1175+have the right to cure your default in the manner set forth in 790
1176+this notice at any time before the trustee's sale of your 791
1177+timeshare interest. If you do not object to the use of the 792
1178+trustee foreclosure pro cedure, you will not be subject to a 793
1179+deficiency judgment even if the proceeds from the sale of your 794
1180+timeshare interest are insufficient to offset the amounts 795
1181+secured by the lien. 796
1182+ 4. The trustee must shall also mail a copy of the notice 797
1183+of default and intent to foreclose, without the objection form, 798
1184+to the notice address of any junior interestholder by certified 799
11851185 mail or, registered mail, or permitted delivery service, return 800
11861186
1187-CS/HB 575 2022
1187+HB 575 2022
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11941194 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
11951195
11961196
11971197
1198-receipt requested, or by permitted delivery service, if 801
1199-applicable, and first -class mail, postage prepaid, to all 802
1200-persons entitled to receive a notice of sale under subsection 803
1201-(6). 804
1202- (14) ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 805
1203-PROCEDURE.— 806
1204- (b) Any trustee who intentionally violates the provisions 807
1205-of this section concerning the trustee foreclosure procedure 808
1206-commits a felony of the third degree, punishable as provided in 809
1207-s. 775.082, s. 775.083, or s. 775.084. A trustee who incorr ectly 810
1208-ascertains that the obligor signed the return receipt as 811
1209-required in subsection (5) does not violate this section if the 812
1210-trustee made a good faith effort to properly ascertain that the 813
1211-obligor signed the return receipt in accordance with subsection 814
1212-(5). 815
1213- Section 12. Paragraph (a) of subsection (3), paragraphs 816
1214-(a) and (b) of subsection (5), paragraph (b) of subsection (6), 817
1215-paragraph (f) of subsection (7), and paragraph (b) of subsection 818
1216-(13) of section 721.856, Florida Statutes, are amended to read: 819
1217- 721.856 Procedure for the trustee foreclosure of mortgage 820
1218-liens.—The provisions of this section establish a trustee 821
1219-foreclosure procedure for mortgage liens. 822
1220- (3) OBLIGOR'S RIGHTS. — 823
1221- (a) The obligor may object to the lienholder's use of the 824
1222-trustee foreclosure procedure for a specific default within 30 825
1198+receipt requested;, and by first-class mail, postage prepaid ; or 801
1199+permitted delivery service and first-class mail, postage 802
1200+prepaid. 803
1201+ 5. Notice under this paragraph is considered perfected 804
1202+upon the trustee receiving the return receipt bearing the 805
1203+signature of the obligor or junior interestholder, as 806
1204+applicable, within 30 calendar days af ter the trustee sent the 807
1205+notice under this paragraph. Notice under this paragraph is not 808
1206+perfected if: 809
1207+ a. The notice is returned as undeliverable within 30 810
1208+calendar days after the trustee sent the notice; 811
1209+ b. The trustee cannot, in good faith, ascertain that the 812
1210+obligor or junior interestholder, as applicable, is the person 813
1211+who signed the receipt because all or a portion of the obligor's 814
1212+or junior interestholder's name is not on the signed receipt or 815
1213+because the trustee cannot otherwise determine that th e obligor 816
1214+or junior interestholder signed the receipt; or 817
1215+ b.c. The receipt from the obligor or junior 818
1216+interestholder, as applicable, is returned or refused within 30 819
1217+calendar days after the trustee sent the notice. 820
1218+ (b) If the notice required by paragraph (a) is returned as 821
1219+undeliverable within 30 calendar days after the trustee sent the 822
1220+notice, the trustee must shall perform a diligent search and 823
1221+inquiry to obtain a different address for the obligor or junior 824
1222+interestholder. For purposes of this paragraph, any address 825
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12251225
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12311231 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
12321232
12331233
12341234
1235-days after receipt of the notice required under subsection (5) 826
1236-any time before the sale of the timeshare interest under 827
1237-subsection (7) by delivering a written objection to the trustee 828
1238-using the objection form provided for in subsection (5). If the 829
1239-trustee receives the written objection from the obligor, the 830
1240-trustee may not proceed with the trustee foreclosure procedure 831
1241-as to the default specified in the notice of default and intent 832
1242-to foreclose under subs ection (5), and the lienholder may 833
1243-proceed thereafter only with a judicial foreclosure action as to 834
1244-that specified default. 835
1245- (5) NOTICE OF DEFAULT AND INTENT TO FORECLOSE. — 836
1246- (a) In any foreclosure proceeding under this section, the 837
1247-trustee is required to notify the obligor of the proceeding by 838
1248-sending the obligor a written notice of default and intent to 839
1249-foreclose to the notice address of the obligor by certified 840
1250-mail, registered mail, or permitted delivery service, return 841
1251-receipt requested, and by first -class mail, postage prepaid, as 842
1252-follows: 843
1253- 1. The notice of default and intent to foreclose must 844
1254-shall identify the obligor, the notice address of the obligor, 845
1255-the legal description of the timeshare interest, the nature of 846
1256-the default, the amounts secured by the lien, and a per diem 847
1257-amount to account for further accrual of the amounts secured by 848
1258-the lien and must shall state the method by which the obligor 849
1259-may cure the default, including the period of time after the 850
1235+known and used by the lienholder for sending regular mailings or 826
1236+other communications from the lienholder to the obligor or 827
1237+junior interestholder, as applicable, must shall be included 828
1238+with other addresses produced from the diligent search and 829
1239+inquiry, if any. 830
1240+ 1. If the trustee's diligent search and inquiry produces 831
1241+an address different from the notice address, the trustee must 832
1242+shall mail a copy of the notice by certified mail or, registered 833
1243+mail, or permitted delivery service, return receipt requested ;, 834
1244+and by first-class mail, postage prepaid ; or permitted delivery 835
1245+service and first-class mail, postage prepaid, to the new 836
1246+address. Notice under this subparagraph is considered perfected 837
1247+upon the trustee receiving the return receipt bearing the 838
1248+signature of the obligor or junior interestholder, as 839
1249+applicable, within 30 calendar days after the trustee sent the 840
1250+notice under this subparagraph. Notice under this subparagraph 841
1251+is not perfected if the receipt from the obligor or junior 842
1252+interestholder, as applicable, is refused or, returned, or the 843
1253+trustee cannot, in good faith, ascertain that the obligor or 844
1254+junior interestholder, as applicable, is the person who signed 845
1255+the receipt because all or a portion of the obligor's or junior 846
1256+interestholder's name is not on the signed receipt or because 847
1257+the trustee cannot otherwise determine that the obligor or 848
1258+junior interestholder signed the receipt . If the trustee does 849
1259+not perfect notice under this subparagraph, the trust ee must 850
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1261+HB 575 2022
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12651265 CODING: Words stricken are deletions; words underlined are additions.
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12681268 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
12691269
12701270
12711271
1272-date of the notice of default and intent to foreclose within 851
1273-which the obligor may cure the default. 852
1274- 2. The notice of default and intent to foreclose must 853
1275-shall include an objection form with which the obligor can 854
1276-object to the use of the trustee foreclosure procedure by 855
1277-signing and returning t he objection form to the trustee. The 856
1278-objection form must shall identify the obligor, the notice 857
1279-address of the obligor, the timeshare interest, and the return 858
1280-address of the trustee and must shall state: "The undersigned 859
1281-obligor exercises the obligor's ri ght to object to the use of 860
1282-the trustee foreclosure procedure contained in section 721.856, 861
1283-Florida Statutes." 862
1284- 3. The notice of default and intent to foreclose must 863
1285-shall also contain a statement in substantially the following 864
1286-form: 865
1287-If you fail to cure t he default as set forth in this notice or 866
1288-take other appropriate action with regard to this foreclosure 867
1289-matter, you risk losing ownership of your timeshare interest 868
1290-through the trustee foreclosure procedure established in section 869
1291-721.856, Florida Statutes. You may choose to sign and send to 870
1292-the trustee, within 30 days after receipt of this notice, the 871
1293-enclosed objection form, exercising your right to object to the 872
1294-use of the trustee foreclosure procedure. Upon the trustee's 873
1295-receipt of your signed objection form, the foreclosure of the 874
1296-lien with respect to the default specified in this notice is 875
1272+shall perfect service in the manner set forth in paragraph (c). 851
1273+ 2. If the trustee's diligent search and inquiry does not 852
1274+locate a different address for the obligor or junior 853
1275+interestholder, as applicable, the trustee may perfect notice 854
1276+against that person under paragraph (c). 855
1277+ (6) NOTICE OF SALE. — 856
1278+ (b) The trustee must shall send a copy of the notice of 857
1279+sale within 3 business days after the date it is submitted for 858
1280+recording, by first-class mail or permitted delivery service and 859
1281+first-class mail, postage prepaid, to the notice addresses of 860
1282+the obligor and any junior interestholder. 861
1283+ (7) MANNER OF SALE. — 862
1284+ (f) On the date of the sale and upon receipt of the cash 863
1285+or certified funds due from the highest bidder, the trustee 864
1286+shall issue to the highes t bidder a certificate of sale stating 865
1287+that a foreclosure conforming to the requirements of this 866
1288+section has occurred, including the time, location, and date of 867
1289+the sale;, that the timeshare interest was sold ;, the amounts 868
1290+secured by the lien;, and the amount of the highest bid. A copy 869
1291+of the certificate of sale must shall be mailed by certified 870
1292+mail or, registered mail, or permitted delivery service, return 871
1293+receipt requested, or by permitted delivery service and first -872
1294+class mail, postage prepaid, to all persons entitled to receive 873
1295+a notice of sale under subsection (6). 874
1296+ (14) ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 875
12971297
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1298+HB 575 2022
12991299
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13051305 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
13061306
13071307
13081308
1309-shall be subject to the judicial foreclosure procedure only. You 876
1310-have the right to cure your default in the manner set forth in 877
1311-this notice at any time before the tru stee's sale of your 878
1312-timeshare interest. If you do not object to the use of the 879
1313-trustee foreclosure procedure, you will not be subject to a 880
1314-deficiency judgment even if the proceeds from the sale of your 881
1315-timeshare interest are insufficient to offset the amou nts 882
1316-secured by the lien. 883
1317- 4. The trustee must shall also mail a copy of the notice 884
1318-of default and intent to foreclose, without the objection form, 885
1319-to the notice address of any junior interestholder by certified 886
1320-mail, registered mail, or permitted delivery service, return 887
1321-receipt requested, and by first -class mail, postage prepaid. 888
1322- 5. Notice under this paragraph is considered perfected 889
1323-upon the trustee receiving the return receipt bearing the 890
1324-signature of the obligor or junior interestholder, as 891
1325-applicable, within 30 calendar days after the trustee sent the 892
1326-notice under this paragraph. Notice under this paragraph is not 893
1327-perfected if: 894
1328- a. The notice is returned as undeliverable within 30 895
1329-calendar days after the trustee sent the notice; 896
1330- b. The trustee cannot, in good faith, ascertain from the 897
1331-receipt that the obligor or junior interestholder, as 898
1332-applicable, is the person who signed the receipt because all or 899
1333-a portion of the obligor's or junior interestholder's name is 900
1309+PROCEDURE.— 876
1310+ (b) Any trustee who intentionally violates the provisions 877
1311+of this section concerning the trustee foreclosure procedu re 878
1312+commits a felony of the third degree, punishable as provided in 879
1313+s. 775.082, s. 775.083, or s. 775.084. A trustee who incorrectly 880
1314+ascertains that the obligor signed the return receipt as 881
1315+required in subsection (5) does not violate this section if the 882
1316+trustee made a good faith effort to properly ascertain that the 883
1317+obligor signed the return receipt in accordance with subsection 884
1318+(5). 885
1319+ Section 14. Paragraph (a) of subsection (3), paragraphs 886
1320+(a) and (b) of subsection (5), paragraph (b) of subsection (6), 887
1321+paragraph (f) of subsection (7), and paragraph (b) of subsection 888
1322+(13) of section 721.856, Florida Statutes, are amended to read: 889
1323+ 721.856 Procedure for the trustee foreclosure of mortgage 890
1324+liens.—The provisions of this section establish a trustee 891
1325+foreclosure procedure for mortgage liens. 892
1326+ (3) OBLIGOR'S RIGHTS. — 893
1327+ (a) The obligor may object to the lienholder's use of the 894
1328+trustee foreclosure procedure for a specific default within 20 895
1329+days after receipt of the notice required under subsection (5) 896
1330+any time before the sale of the timeshare interest under 897
1331+subsection (7) by delivering a written objection to the trustee 898
1332+using the objection form provided for in subsection (5). If the 899
1333+trustee receives the written objection from the obligor, the 900
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1335+HB 575 2022
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13421342 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
13431343
13441344
13451345
1346-not on the signed receipt or the trus tee cannot otherwise 901
1347-determine that the obligor or junior interestholder signed the 902
1348-receipt; or 903
1349- b.c. The receipt from the obligor or junior 904
1350-interestholder, as applicable, is returned or refused within 30 905
1351-calendar days after the trustee sent the notice. 906
1352- (b) If the notice required by paragraph (a) is returned as 907
1353-undeliverable within 30 calendar days after the trustee sent the 908
1354-notice, the trustee must shall perform a diligent search and 909
1355-inquiry to obtain a different address for the obligor or junior 910
1356-interestholder. For purposes of this paragraph, any address 911
1357-known and used by the lienholder for sending regular mailings or 912
1358-other communications from the lienholder to the obligor or 913
1359-junior interestholder, as applicable, must shall be included 914
1360-with other addresses produced from the diligent search and 915
1361-inquiry, if any. 916
1362- 1. If the trustee's diligent search and inquiry produces 917
1363-an address different from the notice address, the trustee must 918
1364-shall mail a copy of the notice by certified mail, registered 919
1365-mail, or permitted delivery service, return receipt requested, 920
1366-and by first-class mail, postage prepaid, to the new address. 921
1367-Notice under this subparagraph is considered perfected upon the 922
1368-trustee receiving the return receipt bearing the signature of 923
1369-the obligor or junior interestholder, as applicable, within 30 924
1370-calendar days after the trustee sent the notice under this 925
1346+trustee may not proceed with the trustee foreclosure procedure 901
1347+as to the default specified in the notice of default and intent 902
1348+to foreclose under subsection (5), and the lienholder may 903
1349+proceed thereafter only with a judicial foreclosure action as to 904
1350+that specified default. 905
1351+ (5) NOTICE OF DEFAULT AND INTENT TO FORECLOSE. — 906
1352+ (a) In any foreclosure proceeding under this section, the 907
1353+trustee is required to notify the obligor of the proceeding by 908
1354+sending the obligor a written notice of default and intent to 909
1355+foreclose to the notice add ress of the obligor by certified mail 910
1356+or, registered mail, or permitted delivery service, return 911
1357+receipt requested;, and by first-class mail, postage prepaid ; or 912
1358+permitted delivery service and first -class mail, postage 913
1359+prepaid, as follows: 914
1360+ 1. The notice of default and intent to foreclose must 915
1361+shall identify the obligor, the notice address of the obligor, 916
1362+the legal description of the timeshare interest, the nature of 917
1363+the default, the amounts secured by the lien, and a per diem 918
1364+amount to account for further accrual of the amounts secured by 919
1365+the lien and must shall state the method by which the obligor 920
1366+may cure the default, including the period of time after the 921
1367+date of the notice of default and intent to foreclose within 922
1368+which the obligor may cure the default. 923
1369+ 2. The notice of default and intent to foreclose must 924
1370+shall include an objection form with which the obligor can 925
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13791379 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
13801380
13811381
13821382
1383-subparagraph. Notice under this subparagraph is not perfected if 926
1384-the receipt from the obligor or junior interestholder is refused 927
1385-or, returned, or the trustee cannot, in good faith, ascertain 928
1386-that the obligor or junior interestholder, as applicable, is the 929
1387-person who signed the receipt because all or a portion of the 930
1388-obligor's or junior interestholder's name is not on the signed 931
1389-receipt or because the trustee cannot otherwise determine that 932
1390-the obligor or junior interestholder signed the receipt . If the 933
1391-trustee does not perfect notice under this subparagraph, the 934
1392-trustee must shall perfect service in the manner set forth in 935
1393-paragraph (c). 936
1394- 2. If the trustee's diligent search and inquiry does not 937
1395-locate a different address for the obligor or junior 938
1396-interestholder, as applicable, the trustee may perfect notice 939
1397-against that person under par agraph (c). 940
1398- (6) NOTICE OF SALE. — 941
1399- (b) The trustee must shall send a copy of the notice of 942
1400-sale within 3 business days after the date it is submitted for 943
1401-recording, by first-class mail or permitted delivery service , if 944
1402-applicable, and first -class mail, postage prepaid, to the notice 945
1403-addresses of the obligor and any junior interestholder. 946
1404- (7) MANNER OF SALE. — 947
1405- (f) On the date of the sale and upon receipt of the cash 948
1406-or certified funds due from the highest bidder, the trustee 949
1407-shall issue to the highest b idder a certificate of sale stating 950
1383+object to the use of the trustee foreclosure procedure by 926
1384+signing and returning the objection form to the trustee. The 927
1385+objection form must shall identify the obligor, the notice 928
1386+address of the obligor, the timeshare interest, and the return 929
1387+address of the trustee and must shall state: "The undersigned 930
1388+obligor exercises the obligor's right to object to the use of 931
1389+the trustee foreclosure procedure contained in section 721.856, 932
1390+Florida Statutes." 933
1391+ 3. The notice of default and intent to foreclose must 934
1392+shall also contain a statement in substantially the following 935
1393+form: 936
1394+If you fail to cure the default as set forth in this notice or 937
1395+take other appropriate action with regard to this foreclosure 938
1396+matter, you risk losing ownership of your timeshare interest 939
1397+through the trustee foreclosure procedure established in section 940
1398+721.856, Florida Statutes. You may choose to sign and send to 941
1399+the trustee, within 20 days after receipt of this notice, the 942
1400+enclosed objection form, exercising your right to object to the 943
1401+use of the trustee foreclosure procedure. Upon the trustee's 944
1402+receipt of your signed objection form, the foreclosure of the 945
1403+lien with respect to the default specified in this notice is 946
1404+shall be subject to the judicial foreclosure procedure only. You 947
1405+have the right to cure your default in the manner set forth in 948
1406+this notice at any time before the trustee's sale of your 949
1407+timeshare interest. If you do not object to the use of the 950
14081408
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14161416 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
14171417
14181418
14191419
1420-that a foreclosure conforming to the requirements of this 951
1421-section has occurred, including the time, location, and date of 952
1422-the sale;, that the timeshare interest was sold ;, the amounts 953
1423-secured by the lien;, and the amount of the highest bid. A copy 954
1424-of the certificate of sale must shall be mailed by certified 955
1425-mail or, registered mail, or permitted delivery service, return 956
1426-receipt requested, or by permitted delivery service, if 957
1427-applicable, and first class mail , postage prepaid, to all 958
1428-persons entitled to receive a notice of sale under subsection 959
1429-(6). 960
1430- (13) ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 961
1431-PROCEDURE.— 962
1432- (b) Any trustee who intentionally violates the provisions 963
1433-of this section concerning the trustee foreclosure procedure 964
1434-commits a felony of the third degree, punishable as provided in 965
1435-s. 775.082, s. 775.083, or s. 775.084. A trustee who incorrectly 966
1436-ascertains that the obligor signed the return receipt as 967
1437-required in subsection (5) does not vio late this section if the 968
1438-trustee made a good faith effort to properly ascertain that it 969
1439-is the obligor who signed the return receipt in accordance with 970
1440-subsection (5). 971
1441- Section 13. Subsection (5) is added to section 721.86, 972
1442-Florida Statutes, to read: 973
1443- 721.86 Miscellaneous provisions. — 974
1444- (5) Mediation, a settlement conference, or any other 975
1420+trustee foreclosure procedure, you will not be subject to a 951
1421+deficiency judgment even if the proceeds from the sale of your 952
1422+timeshare interest are insufficie nt to offset the amounts 953
1423+secured by the lien. 954
1424+ 4. The trustee must shall also mail a copy of the notice 955
1425+of default and intent to foreclose, without the objection form, 956
1426+to the notice address of any junior interestholder by certified 957
1427+mail or, registered mail, or permitted delivery service, return 958
1428+receipt requested;, and by first-class mail, postage prepaid ; or 959
1429+permitted delivery service and first -class mail, postage 960
1430+prepaid. 961
1431+ 5. Notice under this paragraph is considered perfected 962
1432+upon the trustee receiving the return receipt bearing the 963
1433+signature of the obligor or junior interestholder, as 964
1434+applicable, within 30 calendar days after the trustee sent the 965
1435+notice under this paragraph. Notice under this paragraph is not 966
1436+perfected if: 967
1437+ a. The notice is returned as undeliverable within 30 968
1438+calendar days after the trustee sent the notice; 969
1439+ b. The trustee cannot, in good faith, ascertain from the 970
1440+receipt that the obligor or junior interestholder, as 971
1441+applicable, is the person who signed the receipt because all or 972
1442+a portion of the obligor's or junior interestholder's name is 973
1443+not on the signed receipt or the trustee cannot otherwise 974
1444+determine that the obligor or junior interestholder signed the 975
14451445
1446-CS/HB 575 2022
1446+HB 575 2022
14471447
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14531453 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
14541454
14551455
14561456
1457-effort to resolve a foreclosure is not required once a default 976
1458-in a judicial foreclosure of an assessment lien or mortgage lien 977
1459-has been issued. 978
1460- Section 14. For the purpose of incorporating the amendment 979
1461-made by this act to section 721.11, Florida Statutes, in a 980
1462-reference thereto, paragraph (d) of subsection (1) of section 981
1463-721.09, Florida Statutes, is reenacted to read: 982
1464- 721.09 Reservation agreements; escrows. — 983
1465- (1) 984
1466- (d) A seller who has filed a reservation agreement and an 985
1467-escrow agreement under this section may advertise the 986
1468-reservation agreement program if the advertising material meets 987
1469-the following requirements: 988
1470- 1. The seller complies with the provisions of s. 721.11 989
1471-with respect to such advertising material. 990
1472- 2. The advertising material is limited to a general 991
1473-description of the proposed timeshare plan, including, but not 992
1474-limited to, a general description of the type, number, and size 993
1475-of accommodations and facilities and the name of the proposed 994
1476-timeshare plan. 995
1477- 3. The advertising material contains a statement that the 996
1478-advertising material is being distributed in connection with an 997
1479-approved reservation agreement filing only and that the seller 998
1480-cannot offer an interest in the timeshare plan for sale until a 999
1481-filed public offering statement has been filed with the division 1000
1457+receipt; or 976
1458+ b.c. The receipt from the obligor or junior 977
1459+interestholder, as a pplicable, is returned or refused within 30 978
1460+calendar days after the trustee sent the notice. 979
1461+ (b) If the notice required by paragraph (a) is returned as 980
1462+undeliverable within 30 calendar days after the trustee sent the 981
1463+notice, the trustee must shall perform a diligent search and 982
1464+inquiry to obtain a different address for the obligor or junior 983
1465+interestholder. For purposes of this paragraph, any address 984
1466+known and used by the lienholder for sending regular mailings or 985
1467+other communications from the lienholder to the obligor or 986
1468+junior interestholder, as applicable, must shall be included 987
1469+with other addresses produced from the diligent search and 988
1470+inquiry, if any. 989
1471+ 1. If the trustee's diligent search and inquiry produces 990
1472+an address different from the notice address , the trustee must 991
1473+shall mail a copy of the notice by certified mail or, registered 992
1474+mail, or permitted delivery service, return receipt requested ;, 993
1475+and by first-class mail, postage prepaid ; or permitted delivery 994
1476+service and first-class mail, postage prepai d, to the new 995
1477+address. Notice under this subparagraph is considered perfected 996
1478+upon the trustee receiving the return receipt bearing the 997
1479+signature of the obligor or junior interestholder, as 998
1480+applicable, within 30 calendar days after the trustee sent the 999
1481+notice under this subparagraph. Notice under this subparagraph 1000
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14901490 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
14911491
14921492
14931493
1494-under this chapter. 1001
1495- Section 15. For the purpose of incorporating the amendment 1002
1496-made by this act to section 721.11, Florida Statutes, in a 1003
1497-reference thereto, subsection (6) of section 721.111, Florida 1004
1498-Statutes, is reenacted to read: 1005
1499- 721.111 Prize and gift promotional offers. — 1006
1500- (6) All advertising material to be distributed in 1007
1501-connection with a prize and gift promotional offer shall 1008
1502-contain, in addition to the information required pursuant to the 1009
1503-provisions of s. 721.11, the following disclosures: 1010
1504- (a) A description of the prize, gift, or other item that 1011
1505-the prospective purchaser will actually receive, including, if 1012
1506-the price is in excess of $50, the manufacturer's suggested 1013
1507-retail price or, if none is available, the verifiable retail 1014
1508-value. If the value is $50 or less, the description shall 1015
1509-contain a statement of such. 1016
1510- (b) All rules, terms, requirements, and preconditions 1017
1511-which must be fulfilled or met before a prospective purchaser 1018
1512-may claim any prize, gift, or other item involved in the prize 1019
1513-and gift promotional plan, including whether the prospective 1020
1514-purchaser is required to attend a sales presentation in order to 1021
1515-receive the prize, gift, or other item. 1022
1516- (c) The date upon which the offer expires. 1023
1517- (d) If the number of prizes, gifts, or other items to be 1024
1518-awarded is limited, a statement of the number of items that will 1025
1494+is not perfected if the receipt from the obligor or junior 1001
1495+interestholder is refused or, returned, or the trustee cannot, 1002
1496+in good faith, ascertain that the obligor or junior 1003
1497+interestholder, as app licable, is the person who signed the 1004
1498+receipt because all or a portion of the obligor's or junior 1005
1499+interestholder's name is not on the signed receipt or because 1006
1500+the trustee cannot otherwise determine that the obligor or 1007
1501+junior interestholder signed the rece ipt. If the trustee does 1008
1502+not perfect notice under this subparagraph, the trustee must 1009
1503+shall perfect service in the manner set forth in paragraph (c). 1010
1504+ 2. If the trustee's diligent search and inquiry does not 1011
1505+locate a different address for the obligor or j unior 1012
1506+interestholder, as applicable, the trustee may perfect notice 1013
1507+against that person under paragraph (c). 1014
1508+ (6) NOTICE OF SALE. — 1015
1509+ (b) The trustee must shall send a copy of the notice of 1016
1510+sale within 3 business days after the date it is submitted for 1017
1511+recording, by first-class mail or permitted delivery service and 1018
1512+first-class mail, postage prepaid, to the notice addresses of 1019
1513+the obligor and any junior interesth older. 1020
1514+ (7) MANNER OF SALE. — 1021
1515+ (f) On the date of the sale and upon receipt of the cash 1022
1516+or certified funds due from the highest bidder, the trustee 1023
1517+shall issue to the highest bidder a certificate of sale stating 1024
1518+that a foreclosure conforming to the requir ements of this 1025
15191519
1520-CS/HB 575 2022
1520+HB 575 2022
15211521
15221522
15231523
15241524 CODING: Words stricken are deletions; words underlined are additions.
1525-hb0575-01-c1
1526-Page 42 of 42
1525+hb0575-00
1526+Page 42 of 45
15271527 F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
15281528
15291529
15301530
1531-be awarded. 1026
1532- (e) The method by which prizes, gifts, or other item s are 1027
1533-to be awarded. 1028
1534- Section 16. This act shall take effect upon becoming a 1029
1535-law. 1030
1531+section has occurred, including the time, location, and date of 1026
1532+the sale;, that the timeshare interest was sold ;, the amounts 1027
1533+secured by the lien;, and the amount of the highest bid. A copy 1028
1534+of the certificate of sale must shall be mailed by certified 1029
1535+mail or, registered mail, or permitted delivery service, return 1030
1536+receipt requested, or by permitted delivery service and first -1031
1537+class mail, postage prepaid, to all persons entitled to receive 1032
1538+a notice of sale under subsection (6). 1033
1539+ (13) ACTIONS FOR FAILURE TO FOLLOW THE TRUSTEE FORECLOSURE 1034
1540+PROCEDURE.— 1035
1541+ (b) Any trustee who intentionally violates the provisions 1036
1542+of this section concerning the trustee foreclosure procedure 1037
1543+commits a felony of the third degree, punishable as provided in 1038
1544+s. 775.082, s. 775.083, or s. 775.084. A trustee who incorrectly 1039
1545+ascertains that the obligor signed the return receipt as 1040
1546+required in subsection (5) does not violate this section if the 1041
1547+trustee made a good faith effort to properly ascertain that it 1042
1548+is the obligor who sig ned the return receipt in accordance with 1043
1549+subsection (5). 1044
1550+ Section 15. Subsection (5) is added to section 721.86, 1045
1551+Florida Statutes, to read: 1046
1552+ 721.86 Miscellaneous provisions. — 1047
1553+ (5) Mediation, a settlement conference, or any other 1048
1554+effort to resolve a f oreclosure is not required once a default 1049
1555+in a judicial foreclosure of an assessment lien or mortgage lien 1050
1556+
1557+HB 575 2022
1558+
1559+
1560+
1561+CODING: Words stricken are deletions; words underlined are additions.
1562+hb0575-00
1563+Page 43 of 45
1564+F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
1565+
1566+
1567+
1568+has been issued. 1051
1569+ Section 16. For the purpose of incorporating the amendment 1052
1570+made by this act to section 721.11, Florida Statutes, in a 1053
1571+reference thereto, paragraph (d) of subsection (1) of section 1054
1572+721.09, Florida Statutes, is reenacted to read: 1055
1573+ 721.09 Reservation agreements; escrows. — 1056
1574+ (1) 1057
1575+ (d) A seller who has filed a reservation agreement and an 1058
1576+escrow agreement under this section may advertis e the 1059
1577+reservation agreement program if the advertising material meets 1060
1578+the following requirements: 1061
1579+ 1. The seller complies with the provisions of s. 721.11 1062
1580+with respect to such advertising material. 1063
1581+ 2. The advertising material is limited to a general 1064
1582+description of the proposed timeshare plan, including, but not 1065
1583+limited to, a general description of the type, number, and size 1066
1584+of accommodations and facilities and the name of the proposed 1067
1585+timeshare plan. 1068
1586+ 3. The advertising material contains a statement tha t the 1069
1587+advertising material is being distributed in connection with an 1070
1588+approved reservation agreement filing only and that the seller 1071
1589+cannot offer an interest in the timeshare plan for sale until a 1072
1590+filed public offering statement has been filed with the div ision 1073
1591+under this chapter. 1074
1592+ Section 17. For the purpose of incorporating the amendment 1075
1593+
1594+HB 575 2022
1595+
1596+
1597+
1598+CODING: Words stricken are deletions; words underlined are additions.
1599+hb0575-00
1600+Page 44 of 45
1601+F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
1602+
1603+
1604+
1605+made by this act to section 721.11, Florida Statutes, in a 1076
1606+reference thereto, subsection (6) of section 721.111, Florida 1077
1607+Statutes, is reenacted to read: 1078
1608+ 721.111 Prize and gift promotional offers. — 1079
1609+ (6) All advertising material to be distributed in 1080
1610+connection with a prize and gift promotional offer shall 1081
1611+contain, in addition to the information required pursuant to the 1082
1612+provisions of s. 721.11, the following disclosures : 1083
1613+ (a) A description of the prize, gift, or other item that 1084
1614+the prospective purchaser will actually receive, including, if 1085
1615+the price is in excess of $50, the manufacturer's suggested 1086
1616+retail price or, if none is available, the verifiable retail 1087
1617+value. If the value is $50 or less, the description shall 1088
1618+contain a statement of such. 1089
1619+ (b) All rules, terms, requirements, and preconditions 1090
1620+which must be fulfilled or met before a prospective purchaser 1091
1621+may claim any prize, gift, or other item involved in the prize 1092
1622+and gift promotional plan, including whether the prospective 1093
1623+purchaser is required to attend a sales presentation in order to 1094
1624+receive the prize, gift, or other item. 1095
1625+ (c) The date upon which the offer expires. 1096
1626+ (d) If the number of prizes, gifts, or oth er items to be 1097
1627+awarded is limited, a statement of the number of items that will 1098
1628+be awarded. 1099
1629+ (e) The method by which prizes, gifts, or other items are 1100
1630+
1631+HB 575 2022
1632+
1633+
1634+
1635+CODING: Words stricken are deletions; words underlined are additions.
1636+hb0575-00
1637+Page 45 of 45
1638+F L O R I D A H O U S E O F R E P R E S E N T A T I V ES
1639+
1640+
1641+
1642+to be awarded. 1101
1643+ Section 18. This act shall take effect upon becoming a 1102
1644+law. 1103