OTU points if sold

[wdw4rfam]

We are considering selling a contract. (We have 3). we have a reservation booked which we would cancel if we decide to sell. Question is we have 20 otu points bought. Can we still use these to book a single night if the contact it was bought them on is sold?

 

[AstroBlasters]

Did you ask Member Services?

 

[wdw4rfam]

No figured if someone here had experience with it I could avoid the call.

 

[Sandisw]

You don’t buy OTU for a contract. They are bought on your membership and put in a temporary contract to hold them.

Selling any contract in your membership won’t impact them. So, they will remain there for use.

 

[wdw4rfam]

You don’t buy OTU for a contract. They are bought on your membership and put in a temporary contract to hold them.

Selling any contract in your membership won’t impact them. So, they will remain there for use.

But it’s the only contract in that membership. They are all different memberships too

 

[Sandisw]

But it’s the only contract in that membership. They are all different memberships too

You will then lose access once the membership is dissolved.

But that won’t happen until the contract has sold, and transferred to the new owner and your membership is dissolved.

My guess is count on 2 to 3 months for that process, longer if you don’t get an offer immediately.

Depending on the UY, you may or may not have time to use them before that happens. Those points expire at the end of the current UY they are in

 

[drusba]

Adding, if you have a membership with only one contract and some OTUPs, and sell that contract/membership, the OTUPs would go to the purchaser if unused, and, if part of the sale is with the understanding that all available points in your membership are being transferred, an assumption would exist that the OTUPs are included in the sale, and you would need to avoid using the OTUPs, unless the sale contract specifically provides otherwise.

Also, though the process of getting points sold and going to closing can be long, you really should consider using those OTUPs for a reservation that occurs before you put the contract up for sale. Once a contract for sale occurs, it needs to be submitted to DVD for exercise of its right of first refusal. Once submitted, DVD could cancel any upcoming reservation you have in that membership, including any using the OTUPs

Note also that OTUPs cannot be transferred to any other membership you have. Thus, if you are selling all the points you have in the lone contract/ownership interest in the membership, the OTUPs can be used for reserving only by themselves, e.g., if the total OTUPs are not enough to reserve a room for at least one night, they cannot be mixed with points from another membership to reserve that night.

 

[Sandisw]

Adding, if you have a membership with only one contract and some OTUPs, and sell that contract/membership, the OTUPs would go to the purchaser if unused, and, if part of the sale is with the understanding that all available points in your membership are being transferred, an assumption would exist that the OTUPs are included in the sale, and you would need to avoid using the OTUPs, unless the sale contract specifically provides otherwise.

Also, though the process of getting points sold and going to closing can be long, you really should consider using those OTUPs for a reservation that occurs before you put the contract up for sale. Once a contract for sale occurs, it needs to be submitted to DVD for exercise of its right of first refusal. Once submitted, DVD could cancel any upcoming reservation you have in that membership, including any using the OTUPs

Note also that OTUPs cannot be transferred to any other membership you have. Thus, if you are selling all the points you have in the lone contract/ownership interest in the membership, the OTUPs can be used for reserving only by themselves, e.g., if the total OTUPs are not enough to reserve a room for at least one night, they cannot be mixed with points from another membership to reserve that night.

I know holding points transfer to a new owner but I am not sure about OTU points.

Since the new owner had a different membership and OTU be transferred, I think they are simply lost if not used by current owner before membership dissolves.

They are not part of the contract being sold so I don’t know why the owner would be required to list that info.