Timeshare & Holiday clubs

With timeshare, you purchase the right to use an apartment or other real estate. This right applies during a certain period of the year. You do not own the real estate in question. In addition to paying for the right of use, you usually also pay for services, maintenance and administration.

The holiday club is a variant of this model. When you join a holiday club, you gain access to a booking system that allows you to book accommodations, flights or cruise holidays at a discount.

What are the rules?

TimeShare

Holiday clubs

Good to know

Do I have a cooling-off time for a timeshare agreement?

You have a legal fourteen-day cooling-off period after entering into a timeshare agreement. That means that you can terminate the agreement without having to provide a reason. When entering into the agreement, the seller must provide you with a standard form that you can use to withdraw the agreement. You can also do this by writing a letter. You must submit the form or the letter to the seller within the cooling-off period. We recommended doing so via registered mail.

If you did not receive the standard withdrawal form, your cooling-off period is extended to one year and fourteen calendar days. If you did not receive the standard information form, your cooling-off period is extended to three months and fourteen calendar days.

Note that these rules only apply to agreements closed on or after 23 February 2011. If you entered into an agreement before this time, contact us for more information.

Can I resell my timeshare agreement?

We have never heard of a successful resale of this type of product. We regularly receive reports of organisations who are offering to help you get out of your agreement in return for a fee. There are also “lawyers” who claim they can get your investment back via a lawsuit against the seller.

We advise you not to accept these kinds of offers. There does not appear to be a market for the resale of timeshare agreements. Malicious sellers take huge sums of money from you by telling lies. These investments usually lead to nothing. Remember that a lawyer or adviser would never protect your interests of their own initiative. You must always take the first step. 

Do I have a cooling-off time for a holiday club agreement?

You have a legal fourteen-day cooling-off period after entering into a holiday club agreement. That means that you can terminate the agreement without having to provide a reason. When entering into the agreement, the seller must provide you with a standard form that you can use to withdraw the agreement. You can also do this by writing a letter. You must submit the form or the letter to the seller within the cooling-off period. We recommended doing so via registered mail.

If you did not receive the standard withdrawal form, your cooling-off period is extended to one year and fourteen calendar days. If you did not receive the standard information form, your cooling-off period is extended to three months and fourteen calendar days.

Note that these rules only apply to agreements closed on or after 23 February 2011. If you entered into an agreement before this time, contact us for more information.

Can I resell my holiday club agreement?

We have never heard of a successful resale of this type of product. We regularly receive reports of organisations who are offering to help you get out of your agreement in return for a fee. There are also “lawyers” who claim they can get your investment back via a lawsuit against the seller.

We advise you not to accept these kinds of offers. There does not appear to be a market for the resale of holiday club memberships. Malicious sellers take huge sums of money from you by telling lies. These investments usually lead to nothing. Remember that a lawyer or adviser would never protect your interests of their own initiative. You must always take the first step. 

Am I required to make a deposit?

No, you are not required to make a deposit when entering into a timeshare agreement. In fact, the seller is prohibited from asking you to do so. You do not have to pay anything until the cooling-off period of fourteen days or longer has expired.

If you did pay an amount during the cooling-off period and then decide to withdraw from the agreement, the seller must refund this amount. We know from experience that this is often not done. If you paid via credit card, you can sometimes get your money back through your credit card company. Contact your bank as soon as possible.