reglab/housing_qa huggingface dataset:
RI Gen L § 34-41-3.11 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-3.11 - Lien for assessments.

§ 34-41-3.11. Lien for assessments.(a) A person who has a duty to make assessments for time-share expenses has a lien on a time share for any assessment levied against that time share or fines imposed against its owner from the time the assessment or fine becomes due. The lien may be foreclosed in like manner as a mortgage on real estate (or a power of sale under chapter 27 of this title), or, in the case of a time-share license, under the Uniform Commercial Code, title 6A. Unless the time-share instrument otherwise provides, fees, charges, late charges, fines, and interest charged pursuant to § 34-41-3.02(8) and (9) are enforceable as assessments under this section. If an assessment is payable in installments the full amount of the assessment is a lien from the time the first installment thereof becomes due.(b) (1) A lien under this section is prior to all other liens and encumbrances on a time share except:(i) Liens and encumbrances recorded before the recordation of the time-share instrument;(ii) Mortgages and deeds of trust on the time share securing first mortgage holders and recorded before the due date of the assessment or the due date of the first installment payable on the assessment;(iii) Liens for real estate taxes and other governmental assessments or charges against the time share; and(iv) Liens securing assessments or charges made by a person managing a project of which the time-share property is a part.(2) To the extent of the time-share expense assessments made under § 34-41-3.10(b) become due during the six (6) months immediately preceding institution of an action to enforce the lien, the lien is also prior to the mortgages and deeds of trust described in subdivision (1)(ii) of this subsection. This subsection does not affect the priority of mechanics' or materialmen's liens.(c) The lien is perfected upon recordation of a claim of lien in the municipality in which the time-share unit is situated.(d) A lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within three (3) years after the assessments become payable.(e) This section does not prohibit actions or suits to recover sums for which subsection (a) creates a lien or preclude resort to any contractual or other remedy permitted by law.(f) A judgment or decree in any action or suit brought under this section must include costs and reasonable attorney's fees for the prevailing party.(g) A person who has a duty to make assessments for time-share expenses shall furnish to a time-share owner upon written request a recordable statement setting forth the amount of unpaid assessments currently levied against his or her time share. The statement must be furnished within ten (10) business days after receipt of the request and is binding in favor of persons reasonably relying thereon.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-3.12 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-3.12 - Financial records.

§ 34-41-3.12. Financial records.A person who has a duty to make time-share expense assessments shall keep financial records sufficiently detailed to enable him or her to comply with § 34-41-4.07. All financial and other records must be made reasonably available for examination by any time-share owner or his or her authorized agent.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-3.13 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-3.13 - Authority of trustee.

§ 34-41-3.13. Authority of trustee.With respect to a third person dealing with a trustee, under § 34-41-2.05 or § 34-41-3.08, the existence of trust powers and their proper exercise by the trustee may be assumed without inquiry. A third person is not bound to inquire whether the trustee has power to act as trustee or is properly exercising trust powers, and a third person without actual knowledge that the trustee is exceeding or improperly exercising his or her powers is fully protected in dealing with the trustee as if he or she possessed and were properly exercising the power he or she purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the trustee in his or her capacity as trustee.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-3.15 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-3.15 - Direct initiative by owners.

§ 34-41-3.15. Direct initiative by owners.(a) The owners may amend the project instrument or any unrecorded document governing the project, or approve or disapprove any proposed expenditure, in the manner provided by this section in addition to any manner permitted by other law or by the instrument or document.(b) Any owner may deliver to the managing entity a petition containing the language of any proposed amendment and signed by owners of at least one time share or other state or interest in each of a number of units to which at least thirty-three and one-third percent (331/3%) of the votes are allocated, or any smaller percentage specified by the document to be amended. The owner delivering the petition may attach to it a letter of not more than two (2) pages to be mailed with the ballots. Within ten (10) days after receiving the petition, the managing entity shall mail to each owner a ballot setting forth the language of the petition and affording an opportunity to indicate a preference between approval and disapproval of the proposal, together with a copy of any letter of not more than two (2) pages attached by the owner who delivered the petition. The ballot may also be accompanied by a letter of not more than two (2) pages from the managing entity recommending approval or disapproval of the proposal.(c) On the date specified pursuant to § 34-41-3.14(c)(2), the managing entity shall examine the ballots that have been returned and calculate the vote accordingly. A signature on the petition must be treated for the purpose of § 34-41-3.14(f) as a ballot from the signer indicating approval of the proposed amendment. A simple majority of the votes counted suffices for the adoption of the proposal unless other law or the document to be amended specifies a larger majority or, in the case of a proposed expenditure, the project instruments specify a larger majority not exceeding sixty-six and two-thirds percent (662/3%). No document may specify more than a simple majority for any proposal the managing entity could have effected unilaterally. No proposal may be adopted by an initiative in which the ballots favoring the proposal represent less than ten percent (10%) of the votes allocated to all owners.(d) A proposal adopted pursuant to this section may not be repealed or modified within three (3) years except by another initiative pursuant to this section. Thereafter, the managing entity may not repeal or modify the result without the approval of the owners in a referendum. If the project instrument permits the managing entity to initiate a referendum for that purpose, no referendum may be initiated for that purpose more often than once every three (3) years.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-3.16 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-3.16 - Referendum of owners.

§ 34-41-3.16. Referendum of owners.(a) No amendment to the project instrument may be adopted except pursuant to this section or § 34-41-3.15. The project instrument may specify other matters to be determined by referendum of the owners and may permit the managing entity to select matters to be determined in that manner.(b) Whenever an amendment to a project instrument proposed by the managing entity, or other matter, is to be determined by referendum, the managing entity shall prepare and, not less than thirty (30) days or more than one hundred eighty (180) days before the votes are to be counted, shall mail to each owner a ballot stating each matter to be determined and affording the opportunity to vote "yes" or "no" on each matter. The ballot may be accompanied by a letter from the managing entity recommending a particular decision.(c) On the date specified pursuant to § 34-41-3.14(c)(2), the managing entity shall examine the ballots and calculate the vote accordingly. A simple majority of the votes counted determines each matter in question unless the project instrument specifies a larger majority, but no matter may be determined by referendum unless the ballots favoring the majority decision represent at least ten percent (10%) of the votes allocated to all owners.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.01 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.01 - Applicability - Exemptions.

§ 34-41-4.01. Applicability — Exemptions.(a) This Article applies to all time shares subject to this chapter except as provided in subsection (b).(b) Neither a public offering statement nor the materials required by § 34-41-4.07 (Resale of Time Shares) need be prepared or delivered in the case of:(1) A gratuitous disposition of a time share;(2) A disposition pursuant to court order;(3) A disposition by a government or governmental agency;(4) A disposition by foreclosure or deed in lieu of foreclosure;(5) A disposition that may be canceled at any time and for any reason by the purchaser without penalty;(6) A disposition of a time share in a unit situated wholly outside this state pursuant to a contract executed wholly outside this state, if there has been no offering within this state;(7) An offering by a developer of time shares in no more than one time-share unit at any one time; or(8) A disposition of a time-share property or all time shares therein to one purchaser.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.02 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.02 - Liability for public offering statement requirements.

§ 34-41-4.02. Liability for public offering statement requirements.(a) Except as provided in subsection (b), a developer, prior to the offering of any interest in a unit to the public, shall prepare a public offering statement conforming to the requirements of §§ 34-41-4.03, 34-41-4.04 and 34-41-4.05.(b) A developer may transfer responsibility for preparation of all or a part of the public offering statement to a successor developer (§ 34-41-3.04) or to a person in the business of selling real estate who intends to offer time shares in the time-share property for his or her own account. In the event of any such transfer, the transferor shall provide the transferee with any information necessary to enable the transferee to fulfill the requirements of subsection (a).(c) Any developer or other person in the business of selling real estate who offers a time share for his or her own account to a purchaser shall deliver a public offering statement in the manner prescribed in § 34-41-4.06(a). The person who prepared all or a part of the public offering statement is liable under §§ 34-41-4.06, 34-41-4.15, 34-41-5.05 and 34-41-5.06 for any false or misleading statement set forth therein or for any omission of material fact therefrom with respect to that portion of the public offering statement which he or she prepared. If a developer did not prepare any part of a public offering statement that he or she delivers, he or she is not liable for any false or misleading statement set forth therein or for any omission of material fact therefrom unless he or she had actual knowledge of the statement or omission or, in the exercise of reasonable care, should have known of the statement or omission.(d) If a time-share property is part of any other real estate regime in connection with the sale of which the delivery of a public offering statement is required under the laws of this state, a single public offering statement conforming to the requirements of §§ 34-41-4.03, 34-41-4.04 and 34-41-4.05 as those requirements relate to all real estate regimes in which the time-share property is located, and to any other requirements imposed under the laws of this state, may be prepared and delivered in lieu of providing two (2) or more public offering statements.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.04 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.04 - Public offering statement - Conversion building.

§ 34-41-4.04. Public offering statement — Conversion building.(a) If a conversion building that includes or is to include one or more time-share units is more than ten (10) years old and the developer or any affiliates of the developer own or control more than fifty percent (50%) of all units in the project, the public offering statement must contain, in addition to the information required by § 34-41-4.03:(1) A statement by the developer, based on a report prepared by an independent registered architect or engineer, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the time-share units;(2) A statement by the developer of the expected useful life of each item reported on in subdivision (a)(1) or a statement that no representations are made in that regard; and(3) A list of any outstanding notices of uncured violations of building code or other municipal regulations, together with the estimated cost of curing those violations.(b) This section applies only to units in which use as a dwelling or for recreational purposes, or both, is permissible.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.05 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.05 - Public offering statement - Time-share securities.

§ 34-41-4.05. Public offering statement — Time-share securities.If a time-share is currently registered with the securities and exchange commission of the United States, a developer satisfies all requirements relating to the preparation of a public offering statement of this chapter if he or she delivers to the purchaser (and files with the agency) a copy of the public offering statement filed with the securities and exchange commission. (A time share is not a security under the provisions of chapter 11 of title 7 entitled "Sale of Securities.")History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.06 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.06 - Purchaser's right to cancel.

§ 34-41-4.06. Purchaser's right to cancel.(a) A purchaser has the right to cancel the contract until midnight of the fifth (5th) business day (specifically excluding therefrom Saturdays, Sundays and legal holidays) following whichever of the following days occurs later:(i) The execution date; or(ii) The day on which the purchaser received the last of all documents required to be provided to him or her.This right of cancellation may not be waived by any purchaser or by any other person on behalf of the purchaser. Furthermore, no closing may occur until the cancellation period of the time-share purchaser has expired. Any attempt to obtain a waiver of the cancellation right of the time-share purchaser, or to hold a closing prior to the expiration of the cancellation period, is unlawful and such closing is voidable at the option of the purchaser for a period of one (1) year after the expiration of the cancellation period.(b) Any notice of cancellation shall be considered given on the date postmarked if mailed, or when transmitted from the place or origin if telegraphed, so long as the notice is actually received by the developer or escrow agent. If given by means of a writing transmitted other than by mail or telegraph, the notice of cancellation shall be considered given at the time of delivery at the place of business of the developer.(c) In the event of a timely preclosing cancellation, the developer shall honor the right of any purchaser to cancel the contract which granted the time-share purchaser rights in and to the plan. Upon such cancellation, the developer shall refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation. Such refund shall be made within twenty (20) days of demand therefore by the purchaser or within five (5) days after receipt of funds from the purchaser's cleared check, whichever is later.History of Section.P.L. 1984, ch. 141, § 2; P.L. 2005, ch. 141, § 1; P.L. 2005, ch. 221, § 1.
RI Gen L § 34-41-4.07 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.07 - Resales of time shares.

§ 34-41-4.07. Resales of time shares.(a) Except in the case of a sale where delivery of a public offering statement is required, or unless exempt under § 34-41-4.01(b), a seller of a time share shall furnish to the purchaser before execution of any contract for the sale, or otherwise before the transfer of title, a copy of the time-share instrument (other than any plats or plans) and a certificate containing:(1) A statement disclosing the effect on the proposed transfer of any right of first refusal or other restraint on transfer of the time share or any portion thereof;(2) A statement setting forth the amount of the periodic time-share expense liability and any unpaid time-share expense or special assessment or other sums currently due and payable from the seller;(3) A statement of any other fees payable by time-share owners; and(4) A statement of any judgments or other matters that are or may become liens against the time share or the time-share unit and the status of any pending suits that may result in those liens.(b) A managing entity, within ten (10) days after a request by a time-share owner, shall furnish a certificate containing the information necessary to enable the time-share owner to comply with this section. A time-share owner providing a certificate pursuant to subsection (a) is not liable to the purchaser for any erroneous information provided by the managing entity and included in the certificate, other than for judgment liens against the time share or the time-share unit.(c) A purchaser is not liable for any unpaid time-share expense liability or fee greater than the amount set forth in a certificate prepared by a managing entity. A time-share owner is not liable to a purchaser for the failure or delay of a managing entity to provide the certificate in a timely manner, but the purchase contract is voidable by the purchaser until the certificate has been provided and for five (5) days thereafter or until transfer, whichever first occurs.History of Section.P.L. 1984, ch. 141, § 2.
RI Gen L § 34-41-4.08 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.08 - Deposits.

§ 34-41-4.08. Deposits.Any deposit made in connection with the purchase or reservation in this state of a time share from a person required to deliver a public offering statement pursuant to § 34-41-4.02(c) must be placed in escrow, either in this state or in the state where the time-share project is located, in an account designated solely for that purpose, by a licensed title insurance company, an attorney, a licensed real estate broker, an independent bonded escrow company, or any institution whose accounts are insured until:(1) Delivered to the developer at the time of any final transfer or conveyance of a time-share interest,(2) Delivered to the developer because of the purchaser's default under a contract to purchase the time share,(3) Refunded to the purchaser,(4) Delivered to the developer in accordance with § 34-41-5.03(c)(5), or(5) Delivered to the developer of substantially completed units as defined in § 34-41-5.03(a), after the expiration of the time for rescission or any later date specified in the contract to purchase the time share.History of Section.P.L. 1984, ch. 141, § 2; P.L. 1989, ch. 542, § 86.
RI Gen L § 34-41-4.09 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-41 - Rhode Island Real Estate Time-Share Act|Section 34-41-4.09 - Liens.

§ 34-41-4.09. Liens.(a) In the case of a sale of a time share where delivery of a public offering statement is required pursuant to § 34-41-4.02(c), a seller shall, before transferring a time share, record or furnish to the purchaser releases of all liens affecting that time share which the purchaser does not expressly agree to take subject to or assume, or shall provide a surety bond or substantiate collateral for or insurance against the lien as provided for liens on real estate in this title.(b) If a lien other than a deed of trust or mortgage becomes effective against more than one time-share estate, any time-share owner is entitled to a release of his or her time-share estate from the lien upon payment of his or her proportionate liability for the lien in accordance with time-share expense liability unless he or she or his or her predecessor in interest agreed otherwise with the lienor. After payment, the managing entity may not assess or have a lien against that time-share estate for any portion of the time-share expenses incurred in connection with that lien.(c) If a lien is to be foreclosed or enforced against all time shares in a time-share property, service of notice pursuant to § 34-27-4 upon the managing entity, if any, constitutes service thereof upon all the time-share owners for the purposes of foreclosure or enforcement. The lienholder shall also forward promptly, by certified or registered mail, a copy thereof to each time-share owner at his or her last known address. The notice does not suffice for the entry of a deficiency or other personal judgment against any time-share owner.History of Section.P.L. 1984, ch. 141, § 2.