European Timeshare Laws Receive Much Needed Overhaul

European Timeshare Laws Receive Much Needed Overhaul October 30, 2008

Posted by Bryan Connelly in : ARDA, General, News & Events, Travel, Uncategorized , trackback

After months of deliberation, European Parliament finally voted in an updated version of a timeshare directive last visited in 1994. After designing more contemporary and clear timeshare laws, holidaymakers have been given more protection when being sold a timeshare or other holiday products. This will provide a level playing field for consumer and salesperson in an environment where high-pressure sales and deceitful tactics are typical.

Since the current directive was last revised 14 years ago, many products have evolved outside of the realm of European timeshare law. A large issue on the agenda was tying off many of the loopholes in the current language of the directive. The 10 day cooling-off period was extended to 14 days, to protect consumers who are targeted on the first day of a few weeks away. It is unlikely that the rules changed will become law before 2010, so until then, these loopholes may continue to be exploited.

Timeshare and other long-term vacation products as well as exchange and resale will be covered under this more modern legislation. Harry Taylor, CEO of The Timeshare Association (TATOC) explains â€œwe as an organization support and encourage any action which will assist the consumer in receiving the correct and valid information they need in order to make an informed decision as to buying timeshare and also prevent the fraudulent practices which have so damaged the industryâ€¦ this new European legislation will remove any confusion and protect consumers whether they are buying in Spain or Greece.â€

Pending final approval by the Council of Ministers, the new directive will cover all long-term holiday products. Resale and exchange services and moveable timeshares like boats and cruise ships will also be covered by regulations on cooling-off periods, deposits and consumer information. BuyATimeshare.com has always stood by ethical business practices and fully supports this crackdown on rogue operators and bogus timeshare companies that prey on unsuspecting consumers.

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