Mexican Timeshare Rules Delayed, One More Week to Speak Out

Mexico timeshare is trying very hard to hammer out new guidelines. In fact, the rules that govern the sale of non-deeded Mexico timeshare have been undergoing a revision process that now moves into its third year.

Currently operating under administrative regulations called “Norma Oficial Mexicana NOM-029-SCFI-1998” (sometimes referred to as NOM), these rules were first set in place in 1999. The Mexico timeshare sales impacted by the current rules and by the new standards, which are part of the legally mandated updating process, are called: servicio de tiempo compartido. Loosely translated this means: time sharing service.

The new regulations are scheduled to take effect mid-October of this year. But if you own Mexico timeshare, or are considering selling it or wish to buy Mexico timeshare in the future, these new rules may affect you. Moreover, many timeshare owners, along with others in the Mexico timeshare industry, may think they understand the changes without realizing that the changes themselves have changed, with significant provisions included in a May 17, 2010 re-draft.

And it is because of the ongoing confusion about what exactly is being implemented that the Ministry of the Economy has opened a second comment period, which expends until September 27, 2010. If the new revisions are accepted, some of the important changes will include:

• Sales contracts must be further augmented to include an explanation of how assessments will be calculated and paid. Developers are also expressly obligated to notify purchasers of any changes in those provisions.
• A purchaser’s rescission right can be exercised by mail, but not by e-mail as contemplated in the initial drafts of the Proposed NOM.
• Termination of a timeshare plan will no longer require the advance permission of administrative authorities.

Speak Out on the Proposed Mexico Timeshare Guidelines

You can make your comments heard on the issues noted here or any other part of the Proposed NOM. The comment period ends on September 27, 2010, and any comments submitted must be in Spanish. You can submit your comments by mail, fax or email to the following address:

Comité Consultivo Nacional de Normalización de Seguridad al Usuario

Información Comercial y Prácticas de Comercio

Avenida Puente de Tecamachalco #6

Colonia Lomas de Tecamachalco

Sección Fuentes

Naucalpan de Juárez

53950, Estado de México

Facsimile: 55 20 97 15

To view the current NOM and the proposed changes, visit: http://dof.gob.mx (This site is in Spanish)