Cancellation Of The Timeshare Agreement

Nowadays, the development of the age of technology and the contracts which are made as the living appearance of them have taken its share from this situation. Especially in the timeshare sale made on the door or the telephone, many people are victimized. Later on, both the application for cancellation of the concession agreement is made and efforts are made to get back the payments made. It is the latest arrangement to solve the problems in this issue with the timeshare directive dated 14/01/2015. A timeshare agreement is a formal agreement that a property suitable for use as a residence or an independent section is bound to the terms of the property right between the buyer and seller of the property for a specified period of the year and at least 15 days during the year.


Timeshare is the essential element that must be specified in this contract. There is also the obligation to present an example of the concession agreement during the period of sale of the property. The timeshare owners are given a title deed as if they had bought a normal property, and the name of this person is registered with the title deed. Otherwise, the sale of the periodic property is invalid. In addition, the timeshare agreement is organized in the tapestry to sell, rent, inherit, etc. the rights pass to the buyer.

A circuit vacation contract is a contract for a period of at least 3 years that includes the transfer of the right to use one or more real estates for a period not less than one week in a year. In the case of prior legislations, no such distinction is made as regards the timeshare agreement, it is now necessary to apply for a cancellation request or to use the cancellation right depending on the nature of the contract made. Cancellation of the Timeshare Agreement (Cayma Hakkı) Consumers signing the timeshare agreement have some rights and responsibilities. These rights and responsibilities are explained in the timeshare directive dated 14/01/2015.


Often due to misleading marketing methods that sellers use against buyers, many buyers want to cancel after they sign the timeshare agreement. The cancellation of the timeshare agreement in the regulation is called the right to withdraw. According to this arrangement, for the cancellation of the vacation rental agreement; within 14 days of the establishment of the consumer timeshare agreements, have the right to withdraw, without any reason, and for the annulment of the periodical property agreement without paying any penal terms, namely in other words. After paying the first 2 installments, the consumer may request the cancellation without paying any penal terms by writing to the vendor or notifying the permanent data recorder within 14 days of receipt of the payment notification for each taxi since the third year. The vendor is obliged to provide a preliminary information form to the consumer at least one day prior to the establishment of the time-share contract in writing or with a permanent data recorder.

In the preliminary information form, the parties of the timeshare agreement must also indicate the cancellation of the timeshare agreement and the conditions and results thereof. Thus, if there is a contradiction in this situation, the consumer is not bound by the 14-day period for cancellation of the contract. In this case, the consumer may use the request for the cancellation of the timeshare agreement at any time for a period of one year from the date of termination of the 14-day employee. In other words, the application for cancellation of the concession agreement would have been extended for 1 year.

In the case of the sale of the vacation rental in the timeshare agreement as a prepayment, the consumer has the right to cancel the vacation rental agreement without any justification until the transfer or delivery date. In this case, the seller can claim compensation up to 2% of the contract price. However, before the cancellation of the timeshare agreement, if the seller fails to fulfill its responsibilities, the consumer can not claim any price.


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