Section 707.53. Warranties.

 

(1)   Express warranties of quality.

(a) Express warranties made by any seller of a time share to a purchaser, if relied upon by the purchaser, are created as follows:

1. Any affirmation of fact or promise which relates to the time share, the time-share unit, rights appurtenant to either, area improvements that would directly benefit the time share or the right to use or have the benefit of facilities not located on the time-share unit, creates an express warranty that the time share, the time-share unit and related rights and uses will conform to the affirmation or promise.

2. Any model or description of the physical characteristics of the time-share property, including plans and specifications of or for improvements, creates an express warranty that the time-share property will conform to the model or description.

3. Any description of the quantity or extent of the real estate constituting the time-share property, including plats or surveys, creates an express warranty that the time-share property will conform to the description, subject to customary tolerances.

4. A provision that a purchaser may put a time-share unit only to a specified use is an express warranty that the specified use is lawful.

(b) Neither formal words, such as “warranty" or “guarantee", nor a specific intention to make a warranty, is necessary to create an express warranty of quality, but a statement purporting to be merely an opinion or commendation of the time share, the time-share unit or the value of either does not create a warranty.

(c) Any transfer of a time share transfers to the purchaser all express warranties of quality made by previous sellers.

(2)   Implied warranties of quality.

(a) A developer and any person in the business of selling real estate for the person's own account impliedly warrants all of the following:

1. That except for reasonable wear and tear a time-share unit will be in at least as good condition at the earlier of the time of the transfer or of the delivery of possession of the time-share unit as it was at the time of contracting.

2. That a time-share unit and any other real property that the time-share owners have a right to use in conjunction with the time-share unit are suitable for the ordinary uses of real estate of its type, and that any improvements made or contracted for by the developer or the person in the business of selling real estate for the person's own account, or made by any person before transfer, will be all of the following:

a. Free from defective materials.

b. Constructed in accordance with applicable law, according to sound engineering and construction standards, and in a workmanlike manner.

(b) In addition to par. (a) , a developer impliedly warrants to a purchaser of a time share that an existing use of the time-share unit, continuation of which is contemplated by the parties, does not violate applicable law at the earlier of the time of transfer or of the delivery of possession of the time-share unit.

(c) For purposes of this subsection, improvements made or contracted for by an affiliate of a developer are made or contracted for by the developer.

(d) Any transfer of a time share transfers to the purchaser all of the developer's implied warranties of quality.

(3)   Accrual of actions.

(a) Subject to par. (b) , a cause of action for breach of warranty of quality, regardless of the purchaser's lack of knowledge of the breach, accrues, unless extended by agreement, as follows:

1. As to a unit, at the time of the first transfer of a time share in the unit by the seller to a bona fide purchaser.

2. As to other improvements, at the time each improvement is completed.

(b) If a warranty of quality explicitly extends to future performance or duration of any improvement or component of the property, the cause of action accrues at the time the breach is discovered or at the end of the period for which the warranty explicitly extends, whichever is earlier.

1987 a. 399 .