Question 16123 — property

Summary

Mr. Paul Christophe alerts the Minister to the Minister of Territorial Cohesion and Relations with Local Authorities, responsible for cities and housing, on the situation of owners of time-shared residences. Driven by successive tax exemption systems, many French people have invested in timeshare residences in recent years. This timeshare is based on a specific acquisition contract giving the right to the enjoyment of accommodation in a holiday residence. The private investor can thus occupy the property in question for a few weeks during the year, the rest of the time being shared between the other partners. The operation of time-share property allocation companies is governed by Law No. 86-18 of January 6, 1986, to which Laws No. 2009-888 of development and modernization of tourist services of July 22, 2009 and no. 2014-366 for access to housing and renovated town planning, have made modifications to improve the situation of associates. Sold as simple, risk-free investments allowing beneficiaries to acquire assets at a lower cost, these residences however turn out to be real scams, locking the partners into this system dishonest. The managers of these residences are indeed taking advantage of this lucrative market, without honoring the commitments made to investors and doing so with complete impunity. They can thus decide arbitrarily to lower rents, thereby causing difficulties for less well-off households who have gone into debt to acquire the property in question. Managers can also decide to sell assets real estate by destination, such as radiators or sinks, and which nevertheless belong to the owners. Numerous disputes before the courts have appeared in recent years, revealing these scams to public opinion. Consequently, he would like to know the existing measures to protect owners, victims of these fraudulent and unfair maneuvers. He would also like to know whether the Government intends to reform Law No. 86-18 so that owners can continue to invest in this system.

Machine translation from French. The official text remains authoritative.

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