Question About Giving Points as A Gift

[antree]

First I'll tell you how I became a member then I'll ask the question. I became a member through my Aunt and Uncle, They bought a 100 points from Hilton Head. They didn't own any points from Hilton Head and at the time it was the cheapest resort to buy into so that is why we chose Hilton Head. They financed it and I paid the bill, when the loan was paid off they transfered the 100 points to me as a gift. Then I bought more points under my own name to increase my point value. So my question is, I just bought 130 points into SSR my sister is going to pay the loan and then I will give her the points as a gift when the loan is paid off, just the way it was done for me, but the only difference is I already own 130 points from SSR. I didn't think about it until just now, does it make a difference that I already own SSR will there be a problem transferring the points? is it considered 2 different contracts? Did I make this confusing?

Maria

 

[Chuck S]

It won't be a problem, but with any transfer you have to re-deed the contract and submit a letter to DVC explaining the situation so they can issue their Right of First Refusal document. It would be a lot simpler if your sister simply bought a 150 point contract directly from Disney, unless there is a reason she specifically wants 130.

 

[RobDoc]

As Chuck stated, it can be done- but there will be costs associated with having the deed recorded in your sister's name. It might be just as wise for your sister to purchase 150 points in her name thru DVC and finance the purchase. It would likely be about the same cost as the 130 point add-on.

To answer your question, add-ons are separate contracts and may be sold (or transferred to family members) with minimal hassle - ROFR will still have to be cleared and the deed recorded with the county in the name of the new owner.

Enjoy!

 

[Cruelladeville]

Just in case it might make a difference to your sister, Disney does not report loans to any credit reporting agency, as long as you stay current on the loan. Also, they are VERY liberal on who qualifies for loans, too. My DD qualified for a loan, with 35% down, even though someone stole her identity, and put a "dent" in her credit worthiness.

 

[antree]

Thank You for the replies. We already did the loan, I tried explaining things but she didn't understand how it woun't be reported, so at least I benefit this way, I got to keep the 2 annual passes that are offered and it turns out to be a little cheaper for her because, the point value for a member is $98.00 a point and non-members are $101.00. I needed to verify that they were seperate contracts and all would go as smoothly as it went for me. Thanks for answering my questions.

Maria