Can I exchange prior to Transfer of Title?

[patrickg]

I have purchased at Ko Olina and am waiting for the transfer of title. The previous owners booked a week at Ko Olina in March next year on my behalf. I want to exchange into a week in Spain in August. Is there some way I can do this, as I have joined II but it won't let me do an exchange yet as the title hasn't transferred.

Is there some way I can reserve the week I want in Spain for August next year in the meantime while I wait for the title to be transferred?

 

[FlyerBobcat]

Interesting question...

Have you investigated to see if it is possible for the previous owners to do it for you?

I'm also interested if knowing from other tuggers what needs to be done in your transaction to make sure that you get that 2009 March week that was booked (so that you can exchange it).

In other works (not necessarily specific to this transaction), what happens if the previous onwners have paid next year's maintenance fees, and plan to use the week in March. What is done differently in that case? Or would that NOT be allowed? Thanks for letting me butt in here....

 

[DeniseM]

An exchange company won't accept a deposit in your name, unless the deed is in your name.

flyerbobcat - The terms of the sales agreement should spell out who gets use of the 2009 week and who pays the maintenance fee. Sometimes the owner does, and sometimes the new buyer does. That should always be clearly spelled out.

Exchanges can't be "reserved." That wouldn't be fair to someone who already had their week deposited and was ready to actually make the exchange.

Good luck!

 

[m61376]

You might want to ask the seller if he can change the date of the Ko'Olina reservation to later in the year; it would cost $29 to change the reservation to a later date. If any summer weeks are still available, that would be ideal (better trade value). The problem is that, depending upon where you are in the transfer process, Marriott now is taking a few months before transferring the units. That could potentially mean that you won't be recognized as an owner into next year, and then it can take up to two weeks for the unit to get recognized in II.

All that delay would bring you very close, if not into, the 59 day before travel period. If you make a deposit less than 60 days before travel it is considered a late deposit and good for Flexchange exchanges only. At any extent, even if outside the 60 day window, it will have diminished trade value if you are only depositing it 2-3 months before travel. Moving the reservation forward would ultimately allow you to have better trade value when you can deposit the week.