FL H0829

Clarifies definition of "interestholder" in multisite timeshare plans to exclude parties with interests only in separate single-site timeshare plans or condominiums that are component sites of the multisite plan.

Establishes that timeshare instruments and related governing documents for component sites are not encumbrances and do not require nondisturbance or subordination instruments.

Removes provisions allowing timeshare plan extension from section 721.125 and relocates extension procedures to new section 721.1255 with higher voting threshold of 66 percent of eligible voting interests present at a meeting.

Specifies requirements for timeshare plan termination including corporate status of owners' associations, board duties as termination trustee, expense allocation to tenants in common, and voting procedures for underlying condominiums or cooperatives.

Sets quorum requirement at 50 percent of eligible voting interests for extension meetings, allows proxies valid for up to 3 years, and permits ineligibility of voting interests delinquent more than 2 years in assessments unless delinquency is paid.