§ 34-41-3.11 Lien for assessments. –(a) A person who has a duty to make assessments for time-share expenses has alien on a time share for any assessment levied against that time share or finesimposed against its owner from the time the assessment or fine becomes due. Thelien may be foreclosed in like manner as a mortgage on real estate (or a powerof sale under chapter 27 of this title), or, in the case of a time-sharelicense, under the Uniform Commercial Code, title 6A. Unless the time-shareinstrument otherwise provides, fees, charges, late charges, fines, and interestcharged pursuant to § 34-41-3.02(8) and (9) are enforceable as assessmentsunder this section. If an assessment is payable in installments the full amountof the assessment is a lien from the time the first installment thereof becomesdue.
(b) A lien under this section is prior to all other liens andencumbrances on a time share except:
(i) Liens and encumbrances recorded before the recordation ofthe time-share instrument;
(ii) Mortgages and deeds of trust on the time share securingfirst mortgage holders and recorded before the due date of the assessment orthe due date of the first installment payable on the assessment;
(iii) Liens for real estate taxes and other governmentalassessments or charges against the time share; and
(iv) Liens securing assessments or charges made by a personmanaging a project of which the time-share property is a part.
(2) To the extent of the time-share expense assessments madeunder § 34-41-3.10(b) become due during the six (6) months immediatelypreceding institution of an action to enforce the lien, the lien is also priorto the mortgages and deeds of trust described in subdivision (1)(ii) of thissubsection. This subsection does not affect the priority of mechanics' ormaterialmen's liens.
(c) The lien is perfected upon recordation of a claim of lienin the municipality in which the time-share unit is situated.
(d) A lien for unpaid assessments is extinguished unlessproceedings to enforce the lien are instituted within three (3) years after theassessments become payable.
(e) This section does not prohibit actions or suits torecover sums for which subsection (a) creates a lien or preclude resort to anycontractual or other remedy permitted by law.
(f) A judgment or decree in any action or suit brought underthis section must include costs and reasonable attorney's fees for theprevailing party.
(g) A person who has a duty to make assessments fortime-share expenses shall furnish to a time-share owner upon written request arecordable statement setting forth the amount of unpaid assessments currentlylevied against his or her time share. The statement must be furnished withinten (10) business days after receipt of the request and is binding in favor ofpersons reasonably relying thereon.
§ 34-41-3.11 Lien for assessments. –(a) A person who has a duty to make assessments for time-share expenses has alien on a time share for any assessment levied against that time share or finesimposed against its owner from the time the assessment or fine becomes due. Thelien may be foreclosed in like manner as a mortgage on real estate (or a powerof sale under chapter 27 of this title), or, in the case of a time-sharelicense, under the Uniform Commercial Code, title 6A. Unless the time-shareinstrument otherwise provides, fees, charges, late charges, fines, and interestcharged pursuant to § 34-41-3.02(8) and (9) are enforceable as assessmentsunder this section. If an assessment is payable in installments the full amountof the assessment is a lien from the time the first installment thereof becomesdue.
(b) A lien under this section is prior to all other liens andencumbrances on a time share except:
(i) Liens and encumbrances recorded before the recordation ofthe time-share instrument;
(ii) Mortgages and deeds of trust on the time share securingfirst mortgage holders and recorded before the due date of the assessment orthe due date of the first installment payable on the assessment;
(iii) Liens for real estate taxes and other governmentalassessments or charges against the time share; and
(iv) Liens securing assessments or charges made by a personmanaging a project of which the time-share property is a part.
(2) To the extent of the time-share expense assessments madeunder § 34-41-3.10(b) become due during the six (6) months immediatelypreceding institution of an action to enforce the lien, the lien is also priorto the mortgages and deeds of trust described in subdivision (1)(ii) of thissubsection. This subsection does not affect the priority of mechanics' ormaterialmen's liens.
(c) The lien is perfected upon recordation of a claim of lienin the municipality in which the time-share unit is situated.
(d) A lien for unpaid assessments is extinguished unlessproceedings to enforce the lien are instituted within three (3) years after theassessments become payable.
(e) This section does not prohibit actions or suits torecover sums for which subsection (a) creates a lien or preclude resort to anycontractual or other remedy permitted by law.
(f) A judgment or decree in any action or suit brought underthis section must include costs and reasonable attorney's fees for theprevailing party.
(g) A person who has a duty to make assessments fortime-share expenses shall furnish to a time-share owner upon written request arecordable statement setting forth the amount of unpaid assessments currentlylevied against his or her time share. The statement must be furnished withinten (10) business days after receipt of the request and is binding in favor ofpersons reasonably relying thereon.
§ 34-41-3.11 Lien for assessments. –(a) A person who has a duty to make assessments for time-share expenses has alien on a time share for any assessment levied against that time share or finesimposed against its owner from the time the assessment or fine becomes due. Thelien may be foreclosed in like manner as a mortgage on real estate (or a powerof sale under chapter 27 of this title), or, in the case of a time-sharelicense, under the Uniform Commercial Code, title 6A. Unless the time-shareinstrument otherwise provides, fees, charges, late charges, fines, and interestcharged pursuant to § 34-41-3.02(8) and (9) are enforceable as assessmentsunder this section. If an assessment is payable in installments the full amountof the assessment is a lien from the time the first installment thereof becomesdue.
(b) A lien under this section is prior to all other liens andencumbrances on a time share except:
(i) Liens and encumbrances recorded before the recordation ofthe time-share instrument;
(ii) Mortgages and deeds of trust on the time share securingfirst mortgage holders and recorded before the due date of the assessment orthe due date of the first installment payable on the assessment;
(iii) Liens for real estate taxes and other governmentalassessments or charges against the time share; and
(iv) Liens securing assessments or charges made by a personmanaging a project of which the time-share property is a part.
(2) To the extent of the time-share expense assessments madeunder § 34-41-3.10(b) become due during the six (6) months immediatelypreceding institution of an action to enforce the lien, the lien is also priorto the mortgages and deeds of trust described in subdivision (1)(ii) of thissubsection. This subsection does not affect the priority of mechanics' ormaterialmen's liens.
(c) The lien is perfected upon recordation of a claim of lienin the municipality in which the time-share unit is situated.
(d) A lien for unpaid assessments is extinguished unlessproceedings to enforce the lien are instituted within three (3) years after theassessments become payable.
(e) This section does not prohibit actions or suits torecover sums for which subsection (a) creates a lien or preclude resort to anycontractual or other remedy permitted by law.
(f) A judgment or decree in any action or suit brought underthis section must include costs and reasonable attorney's fees for theprevailing party.
(g) A person who has a duty to make assessments fortime-share expenses shall furnish to a time-share owner upon written request arecordable statement setting forth the amount of unpaid assessments currentlylevied against his or her time share. The statement must be furnished withinten (10) business days after receipt of the request and is binding in favor ofpersons reasonably relying thereon.
