Timeshare, Fractional Ownership and secured “right to use” vacation programs are governed by provincial statute and common law rules for transfer of ownership in both federal and personal property. CRDA has been actively involved in consulting to various levels of Government on our Members’ and the public’s behalf, and we continue to participate in consultary and advisory discussions with various Governments on a regular basis.
In addition, CRDA has developed a strict “Code of Standards and Ethics” which governs the trading of timeshare units by its members. This self-regulating policy has assisted the industry’s growth over the past 25 years and, in all but three provinces, continues to provide the only effective rules governing vacation ownership.
To date, three provincial legislatures have enacted amendments to consumer and real estate protection legislation to govern vacation ownership sales: Alberta, British Columbia and Ontario (The Consumer Protection Act).
Consumers concerned about a timeshare or fractional ownership purchase have always been able to consult with CRDA which assists in the settlement of consumer concerns with its Members and, on occasions, non-members.
Now, with the advent of provincially enacted legislation, the vacation ownership purchaser has more security than ever before for his/her holiday investment in British Columbia, Alberta and Ontario.