Banking Points into II Before Deal Closes

[RobDoc]

Rob, I'm not sure I follow you. I'll post then you can respond if I misunderstood. When one does a deposit first, it IS an actual unit deposited.

I think we're saying the same thing in different ways. At this point, the member does not have to actually make a reservation and bank it with the program- the member simply banks the number of points required from the chart based on room size and season and MS will handle everything else. The points are fixed without regard to which resort is owned and even the seasons used are based on the exchange location and not on DVC seasons.

I do agree about the "late deposit" since that is defined by when the points are deposited- in this case they will be within the last days of the Use Year which limits DVC's ability to use the points too.

Using the points in this manner may be the only option to get any use from those points since they will expire on September 30 otherwise.

 

[Dean]

I think we're saying the same thing in different ways. At this point, the member does not have to actually make a reservation and bank it with the program- the member simply banks the number of points required from the chart based on room size and season and MS will handle everything else. The points are fixed without regard to which resort is owned and even the seasons used are based on the exchange location and not on DVC seasons.

I do agree about the "late deposit" since that is defined by when the points are deposited- in this case they will be within the last days of the Use Year which limits DVC's ability to use the points too.

Using the points in this manner may be the only option to get any use from those points since they will expire on September 30 otherwise.

The only slightly different thing I'd add is that when DVC does a deposit first, the points are fixed, but they still have to make a reservation and give it to II. That's what determines the expiration of the deposit. The question is whether it must use the points given up on short notice, my thought is that it does.

But this is one option to get use of the points. And other than renting them, appears to be the only option for the banked points as described. The non banked 2004 points could be transferred. One variation would be to work out with the seller to use the points prior to the closing then close once they were used. In this case, that wouldn't really hold things up as DVC doesn't actually cancel any reservation until they get confirmation of the closing. Something like a deposit that's non refundable if the buyer backs out but refundable otherwise. That way if DVC buys it back, they get a free trip and if not, they got to use the points.

One point is that one must actually be 2 months and 7 days out from the end of the use year to actually deposit a unit that is not a short notice deposit or at least that how it appears to me knowing what the rules say and how II works. Now in reading the rules, it's not clearly written so one could get lucky and not have it be short notice even when it really should be and that's especially true on an instant match which would appear to bypass the 60 day issue altogether. All you'd have to do then would be get and pay for a guest certificate.