Question on resale contract with borrowed points

[Caskbill]

If a contract is sold, such as a resale, I know that any outstanding reservations are canceled.

My question is, in such a case, if the seller originally borrowed points to make the reservation, when the reservation is cancelled because the contract is sold, do those borrowed points return to their original use year, or do they remain in the year they were borrowed into. In other words, is it the same as if a member canceled a reservation on their own (and borrowed points are stuck), or is it different because Disney cancels the reservation (and borrowed points are returned).

As an Example: An April UY. Original member borrows 2005 points for a March 2005 vacation (this is within their 2004 use year). They then sell the contract in February, so Disney cancels the reservation. Do those points remain in 2004 UY (thus expiring 3/31/05) or do they go back into 2005 (thus good through 3/31/06, or even banking into 2006 UY) In other words, when the new buyer gets the contract, what year are those points assigned into.


NOTE: This is just a hypothetical question. There is no real contract being considered. This is just a what-if question for a computer program I'm working on. (I hit a snag on this and didn't know the answer, but want to program it correctly)

I'm assuming that in the case of banked points they remain in the UY into which they were banked and the contract simply sells with banked points available. (With appropriate banking windows applicable)

If anyone knows the definitive answer I would appreciate it.

Thanks

 

[Johnnie Fedora]

When we were looking at a resale that had reservation points, they stayed that way through out the resale process. I imagine it would be the same for borrowed. I know banked points stay banked.

 

[Beca]

Once they are borrowed, they are borrowed. If the contract changes hands after that..nothing is affected...the status of the contract stays the same.



Beca

 

[deanna2426]

We bought a resale that had borrowed points and they stayed borrowed (we weren't thrilled with it, but our contract also had 150 banked points, so it made it a little easier).

Hope this helps!

 

[dis-happy]

We bought a loaded contract with points that had passed the banking deadline by a month or so. The agent was able to get the seller to have them banked into the next year for us. I assume they were able to use the "one time I goofed" thing. Not exactly your question, but along the same lines.

 

[Sbacer]

We closed today on a contract that had "holding" points and were told that was from a reservation that was cancelled. And they must be used before Nov 31. So no 04 points avail, it is a Dec use year and we started the process in Dec. So I am assuming that essentially these were "borrowed" and now they are "holding".
I am hoping I understand this right

Sandy

 

[Caskbill]

Thanks everyone. That's what I thought but always best to clarify. I'm setting up the point tracking software program so that in a resale contract all points retain their status at time of sale: Status: Banked, Borrowed, Regular,; Classification: Holding, Reservation, Normal DVC