Selling Contract With Existing Reservations

[Pizzaman12]

I'm trying to help out a friend who is selling his contracts. He asked me a question I realized I don't know the answer to. I searched but haven't been able to find a definitive answer.

What happens to existing reservations if you sell a contract? I assume the new owner has control?

 

[iheartglaciers]

You can list a contract with existing reservations, but you can't close until after the last reservation is over. You're not allowed to transfer reservations to the new owner.

 

[supersnoop]

Reservations are cancelled when the contract is transferred. That’s why you see “can’t close until ...” on some listings. If he intends to keep the reservation, he can’t close the sell until the reservation checks in.

 

[Pizzaman12]

Reservations are cancelled when the contract is transferred. That’s why you see “can’t close until ...” on some listings. If he intends to keep the reservation, he can’t close the sell until the reservation checks in.

Oh, right. That does sound familiar. The older I get, the less I remember. Thanks!

 

[wdrl]

The single exception to the rule is Aulani. The Aulani Master Declaration permits an owner to sell a deed with a pending Aulani reservation as long as the owner and new buyer agree to it as part of the purchase.

 

[Pizzaman12]

The single exception to the rule is Aulani. The Aulani Master Declaration permits an owner to sell a deed with a pending Aulani reservation as long as the owner and new buyer agree to it as part of the purchase.

Ah, Aulani. Just a few subtle differences there.

Thanks!

 

[Jason@dvcstore]

I'm trying to help out a friend who is selling his contracts. He asked me a question I realized I don't know the answer to. I searched but haven't been able to find a definitive answer.

What happens to existing reservations if you sell a contract? I assume the new owner has control?

If you want to keep the reservation the closing would simply take place after the check out date. Of course, if you want to close in the normal 8 week time frame then you would need to cancel the reservation.

 

[Dean]

I'm trying to help out a friend who is selling his contracts. He asked me a question I realized I don't know the answer to. I searched but haven't been able to find a definitive answer.

What happens to existing reservations if you sell a contract? I assume the new owner has control?

As noted, reservations are supposed to be canceled at the transfer point except when within a family for gratis. Still, I don't recall seeing where reservations were actually canceled though I have seen DVD hold up the transfer due to pending reservations.

 

[ScubaCat]

https://disneyvacationclub.disney.go.com/faq/reselling/pending-reservations/

 

[Dean]

https://disneyvacationclub.disney.go.com/faq/reselling/pending-reservations/

That's pretty generic and it doesn't seem to reflect the true nature of what happens or when it happens.