An increasing number of timeshare owners are dissatisfied with their timeshare vacation packages. Many of these owners are getting rid of their timeshares as they are burdened by chronic charges on upkeep and maintenance. Some existing timeshare owners are disappointed that the timeshares they have purchased were contrary to what they had expected. Numerous owners wonder whether there is any statute or law that would serve to free them from their periodic financial liability or to recompense them for their failed expectations.

The European Union has taken steps to protect timeshare consumers from the unfair business practices of some timeshare companies. Europe has long been famed as one of the prime vacation spots in the world and it is host to thousands of timeshare luxury accommodations. The Timeshare Directive is a little known legislation enacted as early as 1994. It provides consumers with a right to information detailed in a prospectus before entering into timeshare sales contracts. In addition, once the contract is signed, the consumer has a 10-day grace period to withdraw from the contract without the need of giving a reason. Lastly, timeshare companies are prohibited from soliciting advance payments during the grace period.

Even with the existence of the Timeshare Directive, consumers are still unaware of their rights as a timeshare purchaser. Hence, by not exercising their rights, they are forever estopped from initiating an action by reason of its non-exercise. Therefore, future timeshare owners should not only thoroughly investigate the timeshare corporation, but also relevant laws and statutes. By doing so, consumers are afforded much relief from timeshare problems that may arise in the future.