FL H7025

Exempts timeshare condominiums from certain condominium board election requirements, including distance restrictions for annual meetings and proxy voting prohibitions.

Revises reserve calculation requirements for real property timeshare plans to use a formula based on estimated life and replacement cost, allowing either straight-line or pooled accounting methods.

Establishes new regulations for timeshare resale transfer services, including requirements for written resale transfer agreements, escrow accounts for consumer funds, and prohibitions on certain deceptive practices; makes violations a felony of the third degree.

Modifies timeshare foreclosure procedures for both assessment and mortgage liens, revising notice requirements, perfection of service methods, and adding protections against deficiency judgments.

Effective date: July 1, 2013.