Escape Clause?
This deed expires due to an escape clause. This is very common for properties in Florida and on the east coast. At a predestinated time in the future, the owners will vote on whether or not to continue ownership of the property based on the condition of the resort. This clause was designed to protect owners from having to pay maintenance fees if the resort's condition is not considered worth the up-keep. Essentially, an escape clause is a benefit to deed holders. Should you decide to continue ownership, an extension of 10-30 years can be expected.