Making Timeshare Safer
Quick Questions
Timeshare Law
Protecting your rights and making Timeshare safer
Current European legislation comes from the original 1994 Timeshare Directive and was updated in 2008.
Resort Properties vigorously upholds these laws to provide a safe and protected sales environment for its customers.
- Endorsed by RP
- European commission
- Additional protection
Resort Properties wholeheartedly endorses the current legislation and meets every one of the vigorous criteria set out by law.
|
||
The Timeshare industry in Europe is regulated by laws passed by the European Commission, which are designed to protect the consumer by ensuring that Timeshare companies meet certain standards of quality. Resort Properties wholeheartedly endorses the current legislation and meets every one of the vigorous criteria set out in law.
The law currently in force is the 1994 Timeshare Directive. It states that:
- As a consumer, you have the right to a "cooling-off" period of 14 days which begins when you sign the Timeshare contract. This means that you have 14 days to consider your purchase and have a right to cancel your contract during this time, without being penalised
- It is illegal for the seller to take any payment or deposit from the client during the cooling-off period
- The contract (and any promotional material) must be in writing and in your own language. The contract should include the names and addresses of the buyer and seller. It should give details of the purchase price and any supplementary charges such as maintenance fees, as well as a description of the property and its completion date, where appropriate
- If you decide to cancel your Timeshare contract, your credit agreement (if you have one) should be automatically cancelled
The Directive is in place in the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden and the UK.
If your Timeshare is for one or more weeks' accommodation a year and over 36 months or more, all the above basic consumer rights apply. Also, if you pay with VISA or MasterCard you have up to ten days to cancel - regardless of the European country in which you have bought your Timeshare.
In the UK, Timeshare owners enjoy additional protection from the Consumer Credit Act 1974, which ensures that any lender of money for a purchase is jointly responsible with the vendor for the seller receiving the goods - otherwise a refund must be issued.
Consumer protection has been further improved by the Unfair Commercial Practices Directive which was adopted in May 2005 and prohibits misleading, aggressive and other unfair commercial practices.
Every so often, legislation is revised in line with changes in the Timeshare market. The most recent update is the 2008 Timeshare Directive, which comes into force across all the EU countries in 2011. This new Directive was drawn up in response to disreputable companies exploiting loopholes in the 1994 Directive, and sets out even more rigorous regulations for Timeshare and ‘Timeshare-like' products, including trial packages.
Notably, pre-contractual and marketing information will come under more detailed regulation, penalties will be imposed upon any European Member State whose traders do not comply with the new Directive, and long term ‘holiday products' for ownership under 36 months will also now be protected, alongside exchange and fraudulent resale companies who do not observe fair practice.
Contact Us
