The most common types of frauds these days are timeshare frauds. Although the usual victims recently are those owners who are eager to get out of their timeshare contracts, potential owners are also next in the list of the common victims. Hence, it is important to have an idea about what all kind of things fraudsters might indulge you in to rob you off your hard-earned money. Recently, holidaymakers are being warned of a new kind of timeshare that people are being sold in top destinations such as Spain.
These are called fractional ownership resorts with the incentive pitched as more than a holiday home and as an investment into the resort itself. According to Marianne Johns, of timeshare legal experts Lemon & Co Solicitors which is based in Regent Circus, consumers should not sign anything until the terms of agreement have been verified by an expert.
She added that the problem with this scheme is that current UK legislation does not cover these types of timeshare. This means that protection may not be available if you later wish to avoid the terms of the agreements entered into once you find out that you have not bought what you thought you had.
On the other hand, one of the ways that consumers have been trapped over the years is through purchasing vacation products and deals that are not protected by the current legislation. So, although it is likely this will come into force in the coming 12 months, consumers should remember that they would have no come back if things go wrong.