A new independent fund, established by The Organisation for Timeshare in Europe (renamed RDO, Resort Development Organisation in March 2009) to help timeshare owners protect their resorts from local or national legislation or disputes that may impact negatively on their resort.
The new self-funded body is called The Timeshare Partnership Trust and will provide grants to resorts to help ensure that owners can continue to take quality holidays.
The Timeshare Partnership Trust is run by a committee comprising one representative from the RDO Secretariat, one from TATOC (the Timeshare Association) and a chairman from RDO. This committee will review applications from owners associations throughout Europe for grants to resolve issues such as disputes with local taxation authorities, planning, or VAT problems. It will also fund projects designed to promote the overall reputation and interests of timeshare and timeshare owners – it will not however fund legal disputes between owners and developers.
First National Trustee Company will be responsible for controlling the funds.
How the Trust will help relationships between developers and owners
* Developers who participate in The Timeshare Partnership Trust demonstrate that they are committed to protecting the long-term interests of owners.
* It provides developers with the opportunity to keep owners informed of legislative and other developments that may affect them.
* Owners feel more committed to their timeshare ownership if they feel involved in their resort’s future.