Add my son to deeded Vistana timshares or deed alone? Gifting form discussion…lose any benefits?

[mrsportys2210]

Offered my two Vistana timeshares out of Orlando too my son. We have used them to go to Hawaii, Mexico and to several locations in the USA.
Will use LLT for transfer.
The question to Vistana today, first main number, who sent me to email title services at Vistana, who sent me to account support under owner services, ( was told account support is owner services) .
So the burning question, add son to existing deed just adding his name OR deed it too his name alone?
WILL HE LOSE ANY BENEFITS THAT I CURRENTLY HAVE?
The answer, as a common sale to an outsider, anybody not close family, the answer according to VSN rules and regulations under section VIII YES he will lose benefits as well as to any other person your selling to.
The loss is the ability to use or have any star options, all you will have is exact week you are selling to use.
UNLESS, AFTER DEED IS COMPLETED IN SONS NAME, you call owner services and ask for a gifting form for close family. You only get this by calling and ask for it. It was read to me and he would not lose any of my current benefits or status.
BUT, I asked if I could get a copy of that gifting statement and they said no, and it was written nowhere….It was “I would have to take their word for it”.
Ummmm no thanks. I’ll suggest to my son to just be added to my deed and he could repeat the initial cost in 6 months and take me off or wait for me too pass on.thru LLT $225 per deed, $15 postage per, county recording fees and $25 transfer fee per unit for Vistana.

Looking for thoughts and if anyone has even gotten and used the GIFTING FORM FOR CLOSE FAMILY? If so, can you
Provide copy?
Thanks in advance

 

[DeniseM]

I would discuss the with LT Transfers.

 

[mrsportys2210]

I would discuss the with LT Transfers.

Did already. They have no idea if benefits would transfer on anyone’s particular contract. They were my first call this morning before calling Vistana.
As noted, due to “gifted” scenario not being in writing prior to deed transfer I will proceed with just adding son to current deed.

 

[SandyPGravel]

My mother, still living, transferred her Vistana weeks to myself and my step-sister after my step-dad died. It was done incorrectly and I was designated as a resale owner(I'm assuming my SS was as well). Don't take anyone's word for anything. If it is not done correctly, whatever that process may be, your son will definitely lose benefits.

 

[daviator]

A parent-to-child transfer retains ALL the benefits of your developer purchase. LT Transfers knows how to do it, I did one of these with them earlier this year.

if your intent is to gift the ownership to your son, I would do it in one transaction through LT Transfers, the family gifting form should be part of the process. If you go through multiple title changes there is a bigger risk that something will get screwed up or the developer purchase benefits will be lost.

 

[mrsportys2210]

A parent-to-child transfer retains ALL the benefits of your developer purchase. LT Transfers knows how to do it, I did one of these with them earlier this year.

if your intent is to gift the ownership to your son, I would do it in one transaction through LT Transfers, the family gifting form should be part of the process. If you go through multiple title changes there is a bigger risk that something will get screwed up or the developer purchase benefits will be lost.

Sounded like LT did not does not do the gifting part and Vistana has to offer that. I could be wrong and will check with LT

 

[5finny]

Why not just add son to deed as joint tenant with right of survivorship?
You would remain liable for fees and costs but as long as he pays those it should not make a difference

 

[mrsportys2210]

Why not just add son to deed as joint tenant with right of survivorship?
You would remain liable for fees and costs but as long as he pays those it should not make a difference

Bingo that’s option 2 that we are proceeding with. Just want to know if anyone ever used gifting from Vistana. Thanks!