closing deed

[Joni]

I am just about to send back my closing papers for points for OKW and have noticed something in the warranty deed that concerns me. It says that Purchaser's Ownership interest, and the vacation points may not be hypothecated, bought, sold exchanged, rented or otherwise transferred separate and apart from Purchaser's Ownership interest. The word that concerns me is rented because I know points are rented everyday. Does everyone elses warranty deed state this and am I reading it wrong. Would love the help.

 

[CarolMN]

I am by no means an expert, but I think all that "legalese" means is that the points represent/go with the ownership interest. You can't sell the points (or some of the points) without also selling your ownership interest. You can't sell part of your contract - it's all or nothing. Only Disney can break up a contract and sell it off in parts.

Anyway, it has nothing to do with renting a reservation or renting points as the terms are used by those of us on the DVC Forum.

HTH a little - at least until one of the lawyers chooses to respond.

Best wishes-