A new legislation has been passed by the European Union and is about to break new grounds in improving timeshare property transactions and ensuring client protection from bad business. The EU has set a deadline for all member countries to start implementation of the legislation's policies, which is on the 23rd of next month.

The new legislation does not only govern timeshare transactions but fractional ownership as well. The UK's Consumer Minister Edward Davey explains that the body had to put in place security measures to ensure that consumers are kept from being shortchanged. This applies especially to timeshare transactions which Davey says are sold across national borders.

Davey adds that once implemented, the EU expects consumer confidence to increase and thus mean positive business results for honest and fair timeshare businesses. Directive 2008/122/EC was passed thanks to a surprising majority vote in the European Parliament on the 22nd of October last year.