That is not one for which I have seen an answer before. If I understand you correctly, you already had a membership, you have now bought a new contract but before that contract sale was entered into or completed the owner transferred points to you. In that case, if your original membership had the same use year and resort as the transferred points, you should see them in your account.
However, if they were a different use year or resort, then they will not show in your original account. I am guessing that now adding the new contract to the ownership will not change the situation and make thetransferred points suddenly appear, even if you bank them, because that new contract is no longer associated with the transferred points, but you may want to call MS and see if they can provide an answer.