Alberta Canada Passing Tougher Timeshare Laws

Taking a similar path to timeshare sales and timeshare resales legislation being negotiated by concerned governments worldwide, Alberta Canada timeshare laws are getting more stringent. In an effort to offer Canada timeshare owners more protection, the government of Alberta is revising its current timeshare laws and regulations that originally were enacted more than a decade ago.

Effective November 2010, the new regulations will require everyone in the timeshare industry in Alberta to obtain a license from the provincial government and to disclose their business terms and conditions. Amending the Time Share Contracts and Points-based Regulation, under the Fair Trading Act, all timeshare sales and timeshare related businesses will be required to pay $200 to obtain a license and also to post security. The terms of the security are still under negotiation.

Chris Wein, President of multifamily operations at Calgary’s UBG says the government in Alberta Canada is playing “catch-up in terms of business and legal trends.” He adds that he sees this effort as providing greater protections for Canada timeshare owners, buyers, and sellers.

Buying trends in Canada timeshare have recently indicated increasing popularity in fractional ownership real estate, away from consumer purchases of traditional timeshare. If this pattern sustains, it could result in greater numbers of timeshare sales on the secondary market as owners transition from timeshares to longer-term fractional ownership.

Follow this link to find current Canada Time Share regulations