A new trust fund has been established by The Resort Development Association (RDO) 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 trust is called The Timeshare Partnership Trust and will provide grants to resorts to help safeguard the timeshare holiday experience for owners.
The Timeshare Partnership Trust is run by a grants committee comprising one representative from the RDO Secretariat, one from TATOC (the Timeshare Association) and an RDO chairman. This committee will review applications from owners associations throughout Europe for grants to resolve issues, such as disputes with local taxation authorities or planning, VAT or TV licensing 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
The Trustees have been provided by First National Trustee Company, and they control the funds. Application forms and guidance notes can be obtained from Sue McNicol the Committee Administrator, who can be contacted on email firstname.lastname@example.org
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.