Timeshare properties gained popularity in the 1980s, allowing buyers to purchase one or more weeks in a vacation residence based on their budget. Today, ads promising to buy back these weeks for just a few hundred euros abound online. While tempting, these offers often hide pitfalls. As seasoned consumer protection experts, we've analyzed timeshare contracts and laws extensively—here's what you need to know about timeshare vacation homes.
Timeshare—often mislabeled as owning a 'timeshare apartment'—actually means buying a specific week (or more) in a vacation residence or resort. This grants usage rights for a fixed period outlined in the contract. Owners can vacation there annually on set dates or exchange weeks with others through national, European, or international exchange networks. Though appealing initially, its popularity waned as prime weeks rarely entered exchanges. Legally, it involves shares in a real estate civil company (SCI in France), entitling you to enjoyment rights in the SCI-owned property during your allotted time.
Timeshare operations in France are regulated by Law No. 86-18 of January 6, 1986. Buyers never own the property outright or hold tenancy rights—they own SCI shares, with up to 52 co-owners (one per week). All are jointly liable for maintenance, works, and co-ownership fees. The 2009 Law No. 2009-888 added: "A partner may now withdraw fully or partially after unanimous partner approval or court order—such as for shares inherited less than two years prior, or if the resort or property becomes inaccessible."
Note: This EU-aligned law doesn't apply to foreign properties. There, you retain usage rights but pay proportional fees. To exit, simply stop paying—but your initial investment is lost.
Exiting a timeshare is notoriously challenging. Co-owners in the SCI may default on fees, making resale nearly impossible. Legal action starts at around €2,500 in fees, plus rallying 52 partners for a vote. Death can free heirs, who have two years to renounce shares (per a 2014 amendment)—handled by the succession notary. Amicable exits still mean forfeiting your original investment. SCIs can last up to 99 years.
Exchanges once made timeshares globally attractive. Now, online deals bundle flights and hotels cheaply. A timeshare week incurs €300–500 annual fees, plus exchange, registration, flight, and transfer costs—often exceeding standalone vacations.
Consumer Code Article L121-63 mandates specific details in timeshare enjoyment contracts:
Beyond resale, unanimous consent, death, or recent inheritance, court orders allow exits if:
If newly signed, you have 14 days to withdraw—unless outside the EU. Always read contracts thoroughly before signing or paying.
