Cool Off For The Night Before You Buy A Timeshare
The sale of timeshares in the UK is regulated by the Timeshare Act 1992 (amended in 2001) and enforced by local trading standards officers.
Buyers must be given a 14-day "cooling-off" period' it is illegal for selers to take a deposit during this time.
Reputable agents, even within the UK, can be hard to find. And anyone contemplating buying a timeshare abroad should tread with utmost caution.
Buyers must make sure their money and the certificate of ownership are held in an independent, third-party account, and that the purchased "week" is free of al debt. Be aware, too, that there are no regulations about the ownership - rather than the sale - of timeshares. The Organisation for Time-share in Europe (OTE), the industry body, has a limited arbitration scheme for consumers. There is no clear-cut compensation scheme.
posted by John @ 4:30 AM
1 comments
1 Comments:
The cooling-off period is a great idea to provide timeshare consumer protection. However, there are still lots of disadvantages that more owners are wanting to get rid of their timeshares. The Timeshare Relief can provide assistance to these timeshare owners and eventually get rid of that timeshare. Check out their services at http://timesharerelief360.wordpress.com/.
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