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Reply To: | Academy of Legal Studies in Business (ALSB) Talk |
Date: | Wed, 1 Mar 2000 12:41:33 -0700 |
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>>Does any one have any information on the sale of time-shares? In
particular , is it usual for a company making the sale to ask for a sum
of money up front as an appraisal fee?>>
Hi Mary Ann:
I've done some work on the topic, but nothing comprehensive. My interest has
been around how timeshares are marketed - as property ownership (along the lines
of condos), not the mere contractual licenses they are (with little control over
even that). We've just amended our consumer protection legislation to
specifically deal with timeshare marketing, so it apparently continues to be an
issue.
As for up front appraisal fees, they are not common in Canada. The purchase
price for "the week" can be all paid up front or financed. Since the price is
global, and very negotiable if one has the skills and staying power, I suppose
there could be different fees in it, but I've never heard appraisal fee singled
out.
Pete: would you have by any chance cites to that recent UK and EU legislation on
timeshares for me?
Cheers,
Peter Bowal
University of Calgary
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