Can points in holding be transferred?

[PottersMom]

Yes or No? I have read both and I need clarification fast. (I am not a member yet, so I can't call MS and ask them).
THanks for helping out a newbie!! This will affect my closing.

 

[LisaS]

This post lists the point transfer rules. The rule about transferring points in the holding account is listed under the "Unofficial Rules" section of the post: http://www.disboards.com/showthread.php?s=&threadid=491988

 

[Dean]

Yes or No? I have read both and I need clarification fast. (I am not a member yet, so I can't call MS and ask them).
THanks for helping out a newbie!! This will affect my closing.

The short answer is yes you can. They are supposed to retain their use year and expire the end of the use year applicable. There is some question as to how this works out in reality. If this if for the resale, I would not accept holding account points, at least not just the one years amount.

 

[RobDoc]

The early POS documents stated that Holding Account points could not be transferred but there have been several reports over the years that MS has allowed such transfers (but I don't recall any recently).

I suppose it could also depend on whether the Holding Account points had previously been banked, but have no first hand knowledge of that either. My understanding is that IF they can be transferred, they could not be banked and would expire at the end of their original Use Year.

 

[Dean]

The early POS documents stated that Holding Account points could not be transferred but there have been several reports over the years that MS has allowed such transfers (but I don't recall any recently).

I suppose it could also depend on whether the Holding Account points had previously been banked, but have no first hand knowledge of that either. My understanding is that IF they can be transferred, they could not be banked and would expire at the end of their original Use Year.

I don't recall any ban on holding account points from the POS, at least not from 1994 on. Where would that be found?

Here's a quote from MS.

Holding account points can be transferred, however, Holding Account Vacation Points will remain in a Holding Account in the new membership.

 

[RobDoc]

I don't recall any ban on holding account points from the POS, at least not from 1994 on. Where would that be found?

From the 5/93 POS - Exhibit "A" - Rules and Regulations - (page 176)
Transfers - "Transfers are designed to permit two Club Members to use all or a portion of their Vacation Points together in a given Use Year subject to the restrictions set forth below. All Transferred Points shall retain the Use Year of the transferring Club Member and shall expire, if not used in accordance with the Transfer resrtictions set forth below, at the end of the transferring Club Member's Use Year. Transfers are subject to the following restrictions:

1. Banked, Borrowed, or Holding Account Vacation Points may not be Transferred.

2. Only one (1) Transfer per Club Member, either as Transferree or Transferror, will be permitted during a given Use Year.

3. Club Members who are delinquent in the payment of any Annual Dues may not Transfer or receive a Transfer.

4. Transferred Vacation Points may not be Banked, Borrowed, Exchanged or returned to the Transferring Club Member.

5. Club Members desiring to give or receive Transferred Vacation Points will not be referred by DVC to other Club Members for this purpose.

6. Club Members are expressely prohibited from receiving compensation for engaging in any Transfer activity."

In the 5/95 POS under Home Resort Rules and Regulations - Section III (Reservations) - Subsection 4 (Transferring Home Resort Vacation Points Between Club Members)- 3)" Banked or Borrowed Home resort Vacation Points may not be Transferred"

So, by Spring, '95 DVC had dropped reference to "Holding Points" from the Transfer comments. It still did not specifically state Holding Points could be transferred, but did not state they couldn't either.

Later in that same section of the 5/95 POS under section 13 - Holding Account Vacation Points - the following restrictions are listed:

"1) Holding Account Vacation Points can only be used to book reservations within thirty (30) days of arrival.

2) Holding Account Vacation Points must be used for reservations during their Use Year. Any Holding Account Vacation Points remaining in the Holding Account at the end of the Use Year will expire.

3) Holding Account Vacation Points cannot be Banked or applied to any External Exchange Program."

Since then, the timeframe has been extended to allow reservations within sixty (60) days of arrival.

 

[Dean]

Thanks for the F/U. I assume that version also had the home resort window at 11/10 months. As I noted, I did not recall seeing that. The 30 day window went to 60 days I believe fall 1999 at the same time transferred points became bankable.