The Caribbean set new precedence when the Philipsburg parliament approved the new Caribbean Timeshare Law. The new laws surrounding timeshare now offer protection for timeshare owners, offering safety and relief for any timeshare consumers that have been affected by the timeshare industry.
It was a Member of Parliament for the Democratic Party, Mrs Sarah Wescot-Williams, who approved the new law and it was then unanimously accepted by Parliament as a whole.
The new Timeshare Law is one of a kind, as it is the first law to also have an English version. The reason for this being they hope that English people will be enticed to now purchase timeshare in the Caribbean.
This new law means that timeshare developers have to fully reveal all developments to consumers and continue with that policy as all sales are made and if there are expansions in development. The law also provides bankruptcy protection to owners of any of the timeshare products on offer as well as bringing “real checks and balances” from timeshare maintenance fee regulation to reservation levels.
Misleading marketing and sales tactics are now forbidden due to the new Caribbean Timeshare Law, meaning timeshare developers and sales people can no longer sell timeshare as an investment. If it is found that these tactics have been used fines will be issued to those who are found guilty. The law has created a code of conduct that timeshare sales people must adhere to.
If you would like further information about the new Caribbean Timeshare Law put in place to protect timeshare owners or timeshare laws in any other country don’t hesitate to contact Timeshare Advice on 0800 072 4683.
We can also offer advice and assistance to anything relating to your timeshare, whether you are looking to exit or have worries that your contract make contain illegalities.
See our recent post regarding reasons behind timeshare law.