The Hungarian Competition Authority (GVH) has been actively investigating deceptive practices related to the secondary sale of timeshare rights for decades. Despite ongoing efforts, these scams continue to pose a significant threat, particularly to older consumers and those in financially vulnerable situations.

Once thriving, the timeshare market in Hungary has seen a drastic decline in interest over the past 20-30 years. Many owners, including heirs, are often unaware or unwilling to utilize their timeshare rights, yet they are still obligated to pay associated costs until the contracts expire. This situation has made maintaining timeshare rights increasingly burdensome for consumers, leading many to seek ways to sell them, which is fraught with challenges.

Due to the limited demand for timeshare rights, some businesses exploit this situation by offering quick sales solutions to families looking to offload their unwanted timeshare, often targeting elderly individuals with offers that are known to be unviable.

Before seeking assistance in selling a timeshare, consumers are advised to conduct thorough research on the companies offering help. They should never be swayed solely by verbal assurances and should request detailed written information about any offers. Consulting with family members or legal representatives before signing any agreements is also recommended.

Consumers should carefully read contracts and related documents, remain skeptical of poorly written or nonsensical statements, and refrain from signing any documents they do not understand. They should inquire about all costs associated with the offer, including any potential future expenses.

Suspicious claims to watch out for include promises of quick sales at favorable prices, guarantees of refunds for previously terminated timeshares, and assertions of having buyers lined up for their timeshare. Additionally, if a company discusses entering a credit system or other complex arrangements, consumers should fully understand the workings, costs, and risks involved before proceeding.

The GVH has proposed strengthening consumer rights enforcement regarding timeshare sales in its 2023 report. In 2024, the authority held discussions with relevant agencies, including the Ministry of Justice and the National Police Headquarters, to develop concrete proposals for long-term solutions to these issues.

Among the recommendations to lawmakers is the tightening of legal definitions regarding consumer deception, as current laws are often difficult to apply in sanctioning scams. The GVH also suggested requiring prior public approval for secondary sales of timeshare rights and banning the signing of ancillary contracts not directly related to the sale.

For more information on timeshare rights, consumers can refer to the GVH's informational video and the 'Think Calmly' section on their website.