Transferring DVC points risks

[1andrea]

Hello all,

I have rented DVC points out to other members before but I have never transferred points to another member and I was wondering what the risks are for the owner.

Once the buyer has paid I call Member Services to tranfer the points to the buyer but are there any risks attached for me?

I am hoping this is less rick as I womt be pursued for any unpaid room charges etc.

I will be asking for payment by Paypal so are there any risks attached accepting payment this way? Can the payment be reversed by the buyer once the points are transferred?

I know the buyer is taking a risk in paying me first but I know I'm 100% honest!!!

Thanks Andrea )

 

[dvcterry]

When you transfer points into someone's membership you won't see the points. This is true if you transfer from your own membership to membership. Let the person you are transferring know they will not see those points and they will need to book reservations through member services.

The transfer of points is final, once it's done it's done. So it's in your best interest to have some type of contract specify the amount of points to be transferred, etc. etc.

 

[1andrea]

When you transfer points into someone's membership you won't see the points. This is true if you transfer from your own membership to membership. Let the person you are transferring know they will not see those points and they will need to book reservations through member services.

The transfer of points is final, once it's done it's done. So it's in your best interest to have some type of contract specify the amount of points to be transferred, etc. etc.

Thanks for your reply. If payment is made prior to me transferring the points then a contract shouldn't be needed.

I haven't used a contract when I have rented out points before, it's always been done on trust.

 

[drusba]

As long as you get payment up front, your transfer to another member is not a risky transaction. You, of course, remain responsible for any annual dues related to the transferred points but the one who receives the points assumes all other ownership obligations, e.g., such as damage to the DVC property by those using those points for a stay at a DVC resort.

As to whether the purchaser can reverse the payment, that is a Paypal issue not a DVC issue and that depends on the Paypal transaction rules that apply.

 

[montrealdisneylovers]

You may also want to use the Timeshare Store to transfer the points. I received a transfer of points from them last year and it went smoothly. I had to pay the Timeshare Store through paypal. Once payment was received the other member transferred the points to my account. I was asked by the Timeshare Store to call Member services to ensure the points were there. I presume it was at that point that they released the funds to the transferor.

You will get less for your points but unless you know the person you wish to transfer them to, it may make more sense (less risky) to go this route.

I also know I am 100% honest, and I would hesitate to pay everything up front to someone I did not know. Perhaps a 50% before and 50% after transaction would also work if you were doing a personal member to member transaction.

Good luck!!

 

[1andrea]

As long as you get payment up front, your transfer to another member is not a risky transaction. You, of course, remain responsible for any annual dues related to the transferred points but the one who receives the points assumes all other ownership obligations, e.g., such as damage to the DVC property by those using those points for a stay at a DVC resort.

As to whether the purchaser can reverse the payment, that is a Paypal issue not a DVC issue and that depends on the Paypal transaction rules that apply.

That's what I thought thanks!

 

[1andrea]

I understand your point regarding only transferring 50% upfront but if a member rents points for a reservation then full payment is always received prior to the reservation, so surely even when the buyer pays 100% upfront it's less risky than letting someone else control their reservation until they check in?

Thanks Andrea x

You may also want to use the Timeshare Store to transfer the points. I received a transfer of points from them last year and it went smoothly. I had to pay the Timeshare Store through paypal. Once payment was received the other member transferred the points to my account. I was asked by the Timeshare Store to call Member services to ensure the points were there. I presume it was at that point that they released the funds to the transferor.

You will get less for your points but unless you know the person you wish to transfer them to, it may make more sense (less risky) to go this route.

I also know I am 100% honest, and I would hesitate to pay everything up front to someone I did not know. Perhaps a 50% before and 50% after transaction would also work if you were doing a personal member to member transaction.


I understand your point regarding only transferring half before and half after the transfer but when a member rents points for a reservation it remains totally in the owners control until the renters check in.

So even if the buyer pays 100% up front surely this is still better for the buyer.

Thanks
Andrea

Good luck!!

 

[bumbershoot]

Thanks for your reply. If payment is made prior to me transferring the points then a contract shouldn't be needed.

I haven't used a contract when I have rented out points before, it's always been done on trust.

I would make a contract. Even if it doesn't make you happier, it might make the other person happier.


Also, don't mention money to MS. From what I've read before, we aren't supposed to get money from transfers, so don't mention it. Of course, I could be wrong.

 

[lodge]

Not to hijack but what about transferring the 24 one time use points? If I have two different UY at two different resorts, can I transfer 24 to each Uy contract?

 

[Sandisw]

Not to hijack but what about transferring the 24 one time use points? If I have two different UY at two different resorts, can I transfer 24 to each Uy contract?

You only buy up to 24 points per UY when making a reservation. With two different memberships, each would be entitled. But, if only need say 10 to complete the reservation, they you can't buy more until ,your next UY and they can not be transferred

 

[lodge]

You only buy up to 24 points per UY when making a reservation. With two different memberships, each would be entitled. But, if only need say 10 to complete the reservation, they you can't buy more until ,your next UY and they can not be transferred

I don't use this much BUT... OMG! Thanks for that info!!!!! LOVE DIS so much I'm beside myself!

 

[eandesmom]

You only buy up to 24 points per UY when making a reservation. With two different memberships, each would be entitled. But, if only need say 10 to complete the reservation, they you can't buy more until ,your next UY and they can not be transferred

I thought it was 24 per membership, per UY that the trip falls in (regardless of where the points came from for it, banked, current or borrowed) not per contract.

And only at 7 months or later.

2 different UY's at 1 different resorts doesn't mean it's 2 memberships, but is definitely 2 contracts. We have 1 membership, 2 contracts. I'd love to know if I could really buy extra per contract but I don't think you can.

 

[Sandisw]

I thought it was 24 per membership, per UY that the trip falls in (regardless of where the points came from for it, banked, current or borrowed) not per contract.

And only at 7 months or later.

2 different UY's at 1 different resorts doesn't mean it's 2 memberships, but is definitely 2 contracts. We have 1 membership, 2 contracts. I'd love to know if I could really buy extra per contract but I don't think you can.

Different UY's are two completely different memberships. I have a June and dec UY. Each has its own member number so yes, in this case, each membership would be eligible to receive the points if I was making a reservation on that membership. My June UY does have two BLT contracts associated with it as well, but I'd still only get one for that.

And yes, the points can only be bought at 7 months or less.

 

[Sammie]

I would make a contract. Even if it doesn't make you happier, it might make the other person happier.


Also, don't mention money to MS. From what I've read before, we aren't supposed to get money from transfers, so don't mention it. Of course, I could be wrong.

you are correct, monetary gain from transfers is not allowed per DVC guidelines.

 

[WMorganS]

Someone from MS told me I could take money for points as long as it didn't exceed my maintenance fees. Is that right? Has anyone else heard that interpretation of "monetary gain"? It'd be nice to know it really is really okay to buy/sell transferred points.

It was a while back... maybe I'm misremembering?

 

[Sammie]

Someone from MS told me I could take money for points as long as it didn't exceed my maintenance fees. Is that right? Has anyone else heard that interpretation of "monetary gain"? It'd be nice to know it really is really okay to buy/sell transferred points.

It was a while back... maybe I'm misremembering?

The exact wording per the DVC guidebook is:

Members are prohibited from receiving compensation for engaging in any transferring of Vacation Points.