Hi there. A timeshare is a type of ownership or right to use a property, usually a holiday property, for a specific period of time. Owning a timeshare right can involve many benefits but, like any financial investment, it carries several risks. Under the purchase contract, timeshare owners are often obliged to pay ongoing maintenance fees for the property and the value of the timeshare may decrease over time, making it very difficult to sell.

Timeshares are typically purchased via a contract. The law requires all timeshare purchase contracts to contain cooling off periods lasting between 7 and 14 days. The contract can be easily cancelled within this period. But if an owner no longer wants the timeshare after this cooling off period, their only option will be to sell the timeshare to a new buyer.

Timeshares are notoriously difficult to sell. From the information you have provided, there does not appear to be any breach of contract or other legal issue arising from the timeshare operator’s conduct. You may find that the timeshare has simply lost value and is therefore proving difficult to sell. You will most likely be required to pay the ongoing maintenance fees as long as you hold the timeshare.

If you believe the timeshare operator has engaged in misconduct or you want to make a formal complaint about their behaviour, you should first put your complaint in writing and send it to the timeshare operator. If you are dissatisfied with their response, you can take your complaint further to the Financial Ombudsman Service (www.fos.org.au) or the Credit & Investments Ombudsman (www.cio.org.au). These are external dispute resolution services that may be able to help you resolve any problems you are having with the timeshare operator.

Suggested way forward

Although there do not appear to be any legal issues arising in your situation, you may still want to speak to a lawyer about the timeshare and the best course of action. By pressing the “Consult a Lawyer” button, LawAdvisor can help you search for experienced lawyers and obtain fee proposals for their services. Costs for legal advice and representation will vary between providers based on experience and the scope of services.