Should my Hyatt deed show how many points I have?

[optimist]

I just passed ROFR on a hyatt Beach House week

The escrow company sent me the paperwork which includes a copy of the deed but I do not see the number of points listed on there, only the week and the unit number. In fact, I don't see the points listed anywhere (other than the contract of sale). Is that standard?
Shouldn't the number of points be listed on the deed?
Thanks for your input.

 

[DeniseM]

I am going to mover your post to the Hyatt Board where you will get expert help!

 

[Carmel85]

I just passed ROFR on a hyatt Beach House week

The escrow company sent me the paperwork which includes a copy of the deed but I do not see the number of points listed on there, only the week and the unit number. In fact, I don't see the points listed anywhere (other than the contract of sale). Is that standard?
Shouldn't the number of points be listed on the deed?
Thanks for your input.

I cant remember but the seller and you (buyers) must sign a sellers affidvait and that will show all the points. Hyatt produces this you should have gotten one before your deed was recorded. Just ask your Escrow company. Make sure yo0u are buying a annual week.

Good luck I do hope your Escrow company is not just a buck shop like most of these places are because anybody can put a deed together especially if you are copying the old deed which I see many so called "escrow companies" do.

 

[optimist]

I DID receive the Hyatt affadavit and the points are left blank.

They gave me the option of picking the closing company and based on the advise here, I went with JRA services. So far, they seem good.

 

[bdh]

I DID receive the Hyatt affadavit and the points are left blank.

The affidavit will only show points that are available for use the day Hyatt checks the account during the seller to buyer transaction. All that means is that there are no points or reservations being transferred to the new owner.

While the deed will list the week and unit number, it shouldn't list the number of points associated with the week as the deed identifies only physical property owned. The owned week will be converted to points when you do not use your HRPP (owned) week/unit.

 

[optimist]

Thank you so much for that clarification! I am so glad I found such a wealth of knowledge in this site

 

[Kal]

Here's an interesting twist to the deed and points question.

First off you will have a deed stating that you own Unit xxx, during Week ##, EVERY YEAR (or every other year), at Hyatt Resort ZZ. It also should indicate a reference to Hyatt Vacation Club rules.

Now according to the HVC rules, your account will receive the point value of the unit/week/resort owned. If it's a 2200 point week your account will show 2200 points in the HRPP interval. During the HRPP interval you have EXCLUSIVE right to reserve the owned unit (or portion thereof). You do not "receive" the unit, but just the point value of that unit. If you want to use the unit you must take affirmative action to reserve it. It's not automatic. The unit will be made available to other Club members at the minute you tell Hyatt you will not be using it, or 6 months after you initially receive the points, or the minute you spend enough points where you don't have sufficient points to reserve the owned unit (whichever comes FIRST).

As a matter of convenience most HVC members just consider that initial 6-month HRPP interval as "receiving my owned unit". To split hairs that's really not the case, but rather you receive the "right to reserve".