EU Timeshare Ruling Applies to Fractionals

The Fractional and Shared Ownership Trade Association (FSOTA) believes that the new timeshare “directive” passed by the European Union will apply to most fractional developments. It will affect both fractionals located in EU countries and fractionals in other parts of the world being marketed to EU citizens.

The main provisions of the new Directive can be summarized as follows:
• Full disclosure in marketing and sales;
• A cooling off period of 14 calendar days (without cause or reason needing to be justified); and
• A prohibition from taking any monies, in whatever form, during this 14 day period.

See this article on the website for more information.

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