11. You have up to 30 mos. to use an exchange assignment - all exchange assignments expire on June 30th two years after the use year.
I took the above statement from the FAQ sticky because I wanted to expand on it from something I just learned.
I have a 2012 deposit that was set to expire June 30th 2014. I learned from the Starwood II desk that all this means is I have to either execute an exchange or initiate an ongoing search by that date. The date of the target exchange could be past the June 30th date.
It was even stated that if I had a search initiated before the expiration date and modified it after the date it would still be valid. In fact I was told I could modify the time frame of the target exchange after the deadline date has passed (effectively prolonging the deposit for years - possibly even indefinitely) without penalty as long as I didn't cancel the ongoing search. If the search was canceled you would lose the unit assigned for exchange.
I was unaware of these facts and cannot see this obviously referenced in any old threads I have seen so I thought I would post it. I am sure some people already know this. But their are others, like me, that thought the date exchanged into had to occur before the expiration.
I took the above statement from the FAQ sticky because I wanted to expand on it from something I just learned.
I have a 2012 deposit that was set to expire June 30th 2014. I learned from the Starwood II desk that all this means is I have to either execute an exchange or initiate an ongoing search by that date. The date of the target exchange could be past the June 30th date.
It was even stated that if I had a search initiated before the expiration date and modified it after the date it would still be valid. In fact I was told I could modify the time frame of the target exchange after the deadline date has passed (effectively prolonging the deposit for years - possibly even indefinitely) without penalty as long as I didn't cancel the ongoing search. If the search was canceled you would lose the unit assigned for exchange.
I was unaware of these facts and cannot see this obviously referenced in any old threads I have seen so I thought I would post it. I am sure some people already know this. But their are others, like me, that thought the date exchanged into had to occur before the expiration.
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