Swapping points?

[Cole]

Does anyone know if it is possible to trade points permantly with someone? For instance can I trade my Boardwalk points to someone who wants to trade their OKW points with me? Does that even make sense? I know what I am trying to say but I don't think it is coming out right, I think you get the idea.

Thanks in advance
Cole

 

[Gary K. D.]

For the entire transaction to be legal and to protect both parties involved, you will have to enlist the services of a title company in Florida or an attorney. Both deeds will have to be transferred and two closings must be done. You are probably looking at $300.00 TO $500.00 each to accomplish the switch. There is simply no easy way to do this...you can't just make a phone call to MS.

 

[Dean]

I wonder if you can do this as a Tax Free exchange, the federal code I believe is 1035, maybe someone will know for certain. I don't know if you can do this without invoking the right of first refusal but suspect you can. Though in theory, there would be two closing costs, I suspect the amount can be abreviated somewhat. Still the cost will likely be $500-$750 if you use a closing company. You might be able to get the price down to around $350-400 total by just getting a Lawyer to draw up the two deeds. You can record them yourselves through the local court house but I don't know the recording fees. As the initiator, you might be looking at footing the entire amount yourself.

Member Administration should be able to help and direct you. Email me privately as I might have an interest myself depending on specifics.