Challenges of the Knowledge Society (May 2012)
THE TIMESHARE INDUSTRY AT ITS FINEST
Abstract
The coagulation process of timeshare systems, the drafting action of its main peculiarities and the stake of its implementation have ushered the proclivity of U.S.A and of the E.U member states to legally set the aboriginal bricks of the juridical tower overseeing the ownership right in its new gala dress, which was the timeshare cloak that unfurled upon the naked shoulders of the resort service industry. The U.S.A precipitated in establishing the controlling channels of such a large scale operation by making the timeshare ownership concept a part of the South Carolina legislative compound, but nevertheless the E.U did not cave under the grueling weight of the good’s market new product figure, adopting instead the Timeshare Directive aimed to protect the consumer’s best interests. This paper suggests a bird’s eye view over the requirements induced through the 94/47/EC Directive and then later through the new and improved 2008/122/EC Directive (with the Romanian transposition of the two normative acts’ provisions) for an individual to become the beneficiary of their protection. The study will be completed with a series of data concerning the economical impact of timeshare development, which will credit the fast-forward actions of the above mentioned continents that proved themselves visionaries in the long run.
