482. Timeshare properties.

The prospective buyer of a timeshare property has a 14-day 'cooling off' period during which he has the right to withdraw from the contract1. However, this only applies where the buyer is buying from a trader and not to private transactions2.

Notice of the buyer's right to cancel must be given by the seller; failure to give the correct notice renders the contract unenforceable and the seller is guilty of a criminal offence punishable by a fine