Canyon Villas Vacation Ownership Program

What Canyon Villas Vacation Ownership Program's governing documents say

Canyon Villas is a timeshare (vacation ownership) program in Phoenix, AZ, where you buy a fractional undivided interest in the entire property as a tenant in common, not a specific unit. You get the right to reserve and use a unit for one week each year (Every Year) or every other year (Every Other Year), on a fixed or floating time basis. This declaration is the main governing document for owners, the association, and the developer, and it runs with the land.

• Type of ownership: You own an undivided fractional interest (as a tenant in common) in the entire property — including land, buildings, and common furnishings — not a specific unit. An Every Year share is initially 1/2288; an Every Other Year share is 1/4576.
• Use periods & reservations: You can reserve one Use Period (one week) per ownership interest each Use Year (you can own multiple interests). Reservations open 12 months in advance (13 months for multiple concurrent/consecutive weeks). Owners with interests at an Affiliated Resort get 13-month advance reservation for combined stays. Reservations cannot be carried over to the next year.
• Seasons & fixed vs. floating time: Use Periods are divided into Seasons (Gold, Platinum, Platinum Plus). You may have Fixed Time Rights (e.g., a specific week number) or Floating Time Rights (any week in your Season). Fixed Time Rights can be permanently or temporarily converted to Floating with Program Operator consent. The Platinum Plus Use Period includes New Year's Day (Time Period 52 or 53 when applicable).
• Maintenance & service periods: The Program Operator designates one Major Service Period per unit each year (typically for deep cleaning/maintenance) and may also schedule Minor Service Periods. Service Periods cannot deprive an owner of a Confirmed Use Period. Owners may be required to vacate during these periods.
• Association & voting: You automatically become a member of the Canyon Villas Vacation Owners Association. Every Year share owners get 2 votes per interest; Every Other Year owners get 1 vote. The Developer retains voting rights on unsold interests. The Board and Program Operator manage the program.
• Fees & assessments: You must pay all Basic Charges and Special Charges for the full fiscal year in advance before using or exchanging during that Use Year. The Association can levy special charges and maintain reserve accounts. Nonpayment can lead to a lien on your ownership interest.
• Exchange programs: Owners may exchange their Use Period through an internal program or an external exchange program (e.g., RCI). Exchange users must comply with all Program Documents and rules. The Association and Developer are not liable for exchange agent acts.
• Transfer restrictions: You may transfer or mortgage your ownership interest, but must notify the Association and Program Operator. Transfer fees may apply. The Developer has a right of first refusal to purchase any transferred interest. Co-owners cannot partition the property.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.