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unused/leftover current year points during transfer

natarajanv

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If a contract states that the buyer use year is 2020 and if there are some leftover points from 2019, will those points transfer to the buyer automatically or should there be any addendum to the contract stating any/all leftover points will be transferred to the new owner?
 

GT75

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I would put that in the contract. That is what I did anyways.
 

brp

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Once the contract is finalized, I do know that the original owners no longer have access to the points (for example, all existing reservations remain in force, but no changes can be made). I assume, in this case that, whether stated in the contract or not, the buyer has control of the points from the time of taking ownership. It seems that that the only other option is that they would simply expire, and that doesn't make sense to me.

Cheers.
 

hurnik

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Once the contract is finalized, I do know that the original owners no longer have access to the points (for example, all existing reservations remain in force, but no changes can be made). I assume, in this case that, whether stated in the contract or not, the buyer has control of the points from the time of taking ownership. It seems that that the only other option is that they would simply expire, and that doesn't make sense to me.

Cheers.

I think for Hilton it works differently.
The buyer only has control of the points, AFAIK, if on the contract it was stipulated that the buyer gets the "current/previous" years points.
I've seen some cases where the buy opts *not* to take those (thus, not having to reimburse the owner for the MF) and Hilton simply removes them so the buyer logs in and only sees next years points (or whatever the case may be). At least every one of the 5 resales I've purchased, it's been listed what the points are for the 3 years, and what points you will get.

I'm not sure that ROFR has anything to do with that process but I could be wrong.

If the OP worked with a broker, I'd call the broker, otherwise, I'd call Hilton and they could tell the OP what the options are, if any.
 

natarajanv

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I think for Hilton it works differently.
The buyer only has control of the points, AFAIK, if on the contract it was stipulated that the buyer gets the "current/previous" years points.
I've seen some cases where the buy opts *not* to take those (thus, not having to reimburse the owner for the MF) and Hilton simply removes them so the buyer logs in and only sees next years points (or whatever the case may be). At least every one of the 5 resales I've purchased, it's been listed what the points are for the 3 years, and what points you will get.

I'm not sure that ROFR has anything to do with that process but I could be wrong.

If the OP worked with a broker, I'd call the broker, otherwise, I'd call Hilton and they could tell the OP what the options are, if any.

On my first purchase few years back, the contract only specified use year as the next year, but after waiver and during closing I had a doc titled
CONFIRMATION OF TRANSFER OF TIMESHARE, which spelled out current year points and future points are hereby transferred to the Buyer(s), with both seller/buyer signatures.....
 
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