Legal Literature


Legal Literature Details
Member State Greece
Title Time Sharing of tourist accommodation
Subtitle
Type article
URL
Author Papavasiliou, V.
Reference Epsilon 7 (E7 – financial magazine), issue 6
Publication Year 2014
Keywords durable medium, national law, right of withdrawal, timeshare contract, withdrawal period

Timeshare Directive, link

The author analyzes the legal framework of time sharing. He refers to Directive 2008/122/EC and to the Greek legislation that implemented it. In particular, he focuses on the new products of the relevant market and how the consumer’s interests are protected by the related provisions. He also argues that information is provided to the consumer without any charges and on a durable medium; that information consists an integral part of the contract that cannot be altered, unless the parties explicitly agree for a change or alteration is due to an emergency (force majeure). In addition, the contract should include a separate standard form of withdrawal. The consumer may withdraw from the contract within 14 calendar days, not only without giving any reasons, but also without paying anything in advance, since this is forbidden. Moreover, the consumers should pay attention particularly to the following points: the properties of the contracting parties, the subject of the time sharing, its length, its price, what happens in the event of default of tenant, the maintenance charges and the obligations and rights of the contracting parties.
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