An Act modernizing time-share extension and termination procedures

This bill updates Massachusetts laws to clarify how time-share properties can be ended and sold. It allows owners representing at least 60% of the property to vote on terminating a time-share plan through a formal written agreement. Once terminated, the property is either sold by a designated trustee with proceeds distributed to owners and creditors, or the ownership rights revert directly to the remaining owners. The legislation also outlines how existing management associations are handled and ensures that reasonable legal fees for the termination process are covered by the trustee.