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Time-share
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Time-share
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Title 2 Time-share agreements* ) * ) Official note : This title serves to implement Directive 94/47/EC of the European Parliament and of the Council of 26 October 1994 on the protection of purchasers in respect of pertain aspects of contracts relating to the purchase of the right to use immovable properties on a time-share basis ( OJ L 280 , p . 82 ) .
BGB 481. 1 Time-share agreements are contracts by which an entrepreneur procures or promises to procure for a consumer the right , in return for the payment of a total price , to use a building for a period of the year that is specified or to be specified , for recreation or residential purposes , for the duration of at least three years . The right may be a real right or another right and may also in particular , without limitation , be granted through membership of an association or a share in a company or partnership .
BGB 483. 3 Time-share agreements that do not comply with subsections ( 1 ) sentences 1 and 2 , or ( 2 ) above are void .