LEGAL REGULATION OF TIMESHARE IN EUROPEAN LEGISLATION AND PROSPECTS FOR ITS IMPLEMENTATION IN UKRAINE

Abstract

The article examines approaches to determining the legal nature and peculiarities of legal regulation of timeshare in different countries. It is noted that due to historical factors (traditions in approaches to the interpretation of the legal nature of timeshare) and the peculiarities of legal systems, the understanding of the essence of timeshare differs significantly depending on the country. For example, in English law, timeshare is a form of trust, in Portuguese law it is the right of temporary residence in real estate, in French doctrine it is perceived as the right to use a certain real estate for a certain period of time, etc. Taking into account these factors, there is no unified regulation of timeshare relations at the European level. The European legislator decided to focus only on ensuring the protection of consumer rights in this sphere. To this end, the European Union adopted Directive 2008/122/EU “On consumer protection with regard to certain aspects of timeshare contracts, contracts on long-term tourist products, as well as resale or exchange contracts” dated January 14, 2009. The main aspect of the consumer protection mechanism in this area is the introduction of a guarantee regarding the ossibility of canceling a timeshare agreement within the time established at the legislative level, without the possibility of waiving such a right. Based on the results of the study of the practice of other countries in matters of legal regulation of timeshare, it was revealed that in some countries, in particular, Romania and the Republic of Moldova, the institution of timeshare was introduced into civil legislation in terms of the recodification process. The result of this was the definition of timeshare as a special form of joint ownership, which arises in a situation where several subjects (co-owners) consistently and repeatedly use the right of ownership to movable or immovable property during defined, equal or unequal, time intervals. The provisions of the Romanian and Moldovan legislation on timeshare are quite valuable in the context of the recodification that is taking place in Ukraine and should be considered in the event of a decision to introduce the institution of timeshare into the Ukrainian legal reality.