Vermont § 3619 - Time-share projects

§ 3619. Time-share projects

• (a) As used in this section, a time-share project means a project involving real property
  containing time-share estates. A “time-share estate” is a right to occupy a unit
  or any of several units in a time-share project during separated time periods coupled
  with a freehold estate or an estate for years in a time-share property or a specified
  portion thereof. (b) With respect to property taxes, both real and personal, on time-share projects, each
  property owner of a time-share estate shall be liable for the payment thereof to the
  town. However, the owners’ association, corporation, or whatever entity is authorized
  by the project instruments to manage the common property, shall be the agent of the
  time-share estate owners for the payment of property taxes from the individual owners
  to the town. The town shall set in the grand list as real estate the units and common
  property of the project of which the time-share estates are a part and shall list
  the entire property to the association, corporation, or whatever entity is authorized
  by the project instruments to manage the common property, which entity assumes the
  rights and liabilities of any owner of property in the grand list. However, with respect
  to each other, each owner of a time-share estate shall be responsible only for a fraction
  of such assessments, property taxes, both real and personal, and charges proportionate
  to the magnitude of his or her undivided interest in the fee to the whole estate of
  which he or she is a part, as covered in the association’s, corporation’s, or entity’s
  bylaws or other project instruments. (c) A lien by the town for the collection of taxes owed by an owner of a time-share estate
  shall be imposed upon the entire property composing the time-share project. With
  respect to notification and sale for collection of taxes under chapter 133 of this
  title, the owners’ association, corporation, or whatever entity is authorized by the
  project instruments to manage the common property, and not the town, is responsible
  for notifying all time-share estate owners of any delinquency or other notice required
  under chapter 133 of this title, and for payment of the delinquent tax together with
  interest and penalties. (Added 1983, No. 18, eff. March 31, 1983.)