Are there penalties for transferring points to another DVC account?

[welovedis]

I'm currently renting points from a DVC member for an upcoming Jan 2006 trip. Right now I've paid 1/2 down (around $950) and the other 1/2 is due at the end of this month. Our contract says that if I default on the agreement, the DVC owner will keep my deposit, unless we can work out an agreement.

I'm wondering if I had to cancel, could the DVC owner transfer the points to another DVC owner's account without fees or penalties? I know a few local DVC members that would help me out if necessary, but don't want to cause any more difficulty for the owner.

My mom is very ill with terminal cancer and things are so up in the air, we are just not sure that we are comfortable going ahead with our plans, that is why we are asking. It is not something we are taking lightly, but wanted to find out more info on whether or not this is even possible.

Thanks in advance-

 

[CarolMN]

Possibly. It depends on the status of the points that were used to make your reservation. Some points cannot be transferred.

My advice is to contact the owner and see what you can work out - perhaps you can reschedule your vacation for another time or perhaps the owner will have other options for you. Rental terms are entirely between the renter and the owner.

Sorry about your Mom - hope the doctors are able to keep her comfortable and she is able to spend time with all her loved ones. Will say a prayer for you and your family.

Best wishes -

 

[dianeschlicht]

I'm sure if you contact the owner of the points, they will be able to advise you on your options. As long as you would cancel more than 31 days ahead of your trip, they might be able to bank those points and use them at a later date. Only the owner will know the status of the points, so that should be your first contact.

Sorry to hear of your Mom's illness. Been there, and it's not fun. Prayers for all of you.

 

[welovedis]

Thanks for the info and the kind thoughts. I'm going to speak with some family members who are in closer contact with her doctors to see where they feel things are headed. On one hand it would be nice to have something to look forward to, on the other hand it would be much worse to cancel at the last minute and lose almost $1900!

If I think I might be leaning towards cancelling, I'll contact my person right away, I just didn't really understand how the points transferring worked. I do know that the DVC member had to borrow some points from their next year's allotment in order to procure my full reservation, so hopefully that wouldn't be a problem.

Thanks again-

 

[RobDoc]

Any points that were borrowed or had already been banked cannot be transferred to another member and will expire at the end of the member's current Use Year. Any current points could be transferred or banked. It will alldepend on the actual status of the points and the willingness of that member to assist.

Good luck!

 

[welovedis]

Doc-thanks for that info, that's what I was trying to find out. We'll make our decision in the next few days I guess and contact the DVC member if we aren't going to go ahead as planned.

 

[byoung]

Sorry to hear your news. Good luck

 

[Caskbill]

There's a lot of different factors here and you'll need to contact the owner to see what can be done.

Some things not mentioned which could come into play might include:

When was the reservation made? If more than 7-months out then 'Home Resort' points were used.

Does the person have any other reservations either for themself or for someone else? If so then it might be possible to reallocate the borrowed points used for your reservation to one of the other reservations (This depends on if the points used were used prior to 7-months out and/or the points' home resort, per the 1st statement above). Then when your reservation is cancelled, all points returned would be regular points and they could then all be transferred.

If the owner has points at more than one resort, that can complicate it a little more based on how the points were used.

If points are transferred, other factors come into play such as the owner's home resort compared to your friends' home resort, use year month, and points use year.

If you have further questions post back.