HI SB799

Requires developers of time share plans using title-holding trusts to submit a title report showing that title to the time share units has been conveyed to the trustee, with no requirement for additional title reports thereafter on that property.

Requires developers of time share plans using a notice of time share plan to submit a title report showing the notice has been recorded on the property title, with no requirement for additional title reports thereafter on that property.

Requires developers of time share plans using alternative arrangements to submit a title report showing recordation of all documents required by the director's accepted alternative arrangement, with no requirement for additional title reports thereafter on that property.

Protects time share purchasers from blanket liens (such as mortgages) that may arise after their purchase by ensuring proper documentation of title protections through trusts, notices, or alternative recorded arrangements.

Effective July 1, 2050.