What is the limit on the number of points I can transfer into my account?

[disneydenisel]

If I am getting points transferred into my account, what is the limit to the number of points that I can have in my account at one time? For example, we own 170 pts at BCV. We've used our 2006 and 2007 points. If I were to get a member to transfer some points to me for 2007 or 2008, am I limited to only going up to 170? Or 340? We want to plan a gathering for 2008, so I might want some more points.

If we transferred a member's 2007 points, we can bank them for 2008, right? And what would the limit be since we already have our full 170 point allotment for 2008?

Thank you for your help.

 

[Dean]

If I am getting points transferred into my account, what is the limit to the number of points that I can have in my account at one time? For example, we own 170 pts at BCV. We've used our 2006 and 2007 points. If I were to get a member to transfer some points to me for 2007 or 2008, am I limited to only going up to 170? Or 340? We want to plan a gathering for 2008, so I might want some more points.

If we transferred a member's 2007 points, we can bank them for 2008, right? And what would the limit be since we already have our full 170 point allotment for 2008?

Thank you for your help.

There is no current limit on the number of points, just one in or one out per year.

 

[disneydenisel]

There is no current limit on the number of points, just one in or one out per year.

Thanks for the prompt reply, Dean . It's good to know that I can try to transfer in as many points as I can in one transaction.

 

[Doctor P]

There is no current limit on the number of points, just one in or one out per year.

There actually IS a limit, but it is unclear whether it is enforced. You are limited to having "three years worth" of points in your account (i.e., that is because you can borrow one year, bank one year, and have the current use year). This restriction is in the Public Offering Statement and does appear to limit the number of points that may be transferred in.

 

[Dean]

There actually IS a limit, but it is unclear whether it is enforced. You are limited to having "three years worth" of points in your account (i.e., that is because you can borrow one year, bank one year, and have the current use year). This restriction is in the Public Offering Statement and does appear to limit the number of points that may be transferred in.

DVC has never applied that wording to this situation. IMO, it's more a statement of what's involved in banking and borrowing than a rule unto itself. But I can see how one could look at it that way. I do know other systems that limit how many you can have in a given year but NONE of them also allow transfers. A points resort I own in MX limits you to 2 years worth of points in a given year. And they stick to it in ALL permutations. However at this time there is no limit on the size of transfers or the number of points in a given use year regardless of how many you own.

 

[Doctor P]

I reread the POS, and I am pretty sure that the restriction does apply (otherwise the clause doesn't make any sense because there is no other way to get more than 300% into your account--but perhaps it is CYA language, and it does appear in the banking and borrowing section so I agree with Dean that there is some ambiguity). But, I don't think it is being or has been enforced, so in effect the restriction doesn't exist.

 

[disneydenisel]

Many thanks for taking the time to figure this out for me . I don't want to break any rules or be denied a transfer, so I'll just have to try and only have up to 510 points of any kind in my account at one time. This doesn't sound like a problem, since usually the problem is negative points . I will have to do some careful calculating, or else some renting if it turns out that way.

Thanks again!

 

[Dean]

I reread the POS, and I am pretty sure that the restriction does apply (otherwise the clause doesn't make any sense because there is no other way to get more than 300% into your account--but perhaps it is CYA language, and it does appear in the banking and borrowing section so I agree with Dean that there is some ambiguity). But, I don't think it is being or has been enforced, so in effect the restriction doesn't exist.

I went back and reread it as well. And we agree about 90%. However, it specifically says points alloted, banked and borrowed points can not exceed 300%, it does not say the number of points in a use year or given contract cannot exceed 300%. This is specifically under the Banking and Borrowing limitations. It doesn't address transfers in this section and doesn't address any limit in the Transfer section which is a new and separate section. As written, I don't believe DVC could use this section to limit the number of points of a transfer. But as we've discussed recently, they could change the rule in the future or even suspend transfers. Which, BTW, I'm surprised they allow at all.

 

[Doctor P]

I went back and reread it as well. And we agree about 90%. However, it specifically says points alloted, banked and borrowed points can not exceed 300%, it does not say the number of points in a use year or given contract cannot exceed 300%. This is specifically under the Banking and Borrowing limitations. It doesn't address transfers in this section and doesn't address any limit in the Transfer section which is a new and separate section. As written, I don't believe DVC could use this section to limit the number of points of a transfer. But as we've discussed recently, they could change the rule in the future or even suspend transfers. Which, BTW, I'm surprised they allow at all.

I admit it gets confusing. A few months back I went back through the POS to find the definition of some of these terms, and the indication was that the only kinds of points you could ever have in your account were those which were allotted (i.e., points whose origination was in the current use year the way they define it), those that were banked and those that were borrowed. When a transfer is made, those are allotted points (since banked and borrowed points cannot be transferred) and count towards the limit. But you are absolutely correct that there is tremendous ambiguity, and that the language is only in the banking and borrowing section. You may very well be right, but as we agree, there is a lot of room for different interpretations.
And the fact is that they appear to have not been abiding by the limit I suggest may exist.