J
jdezso
I am in the point system with Diamond Resorts. I have been told by them that the points can not be transfered if I sell my time share. If that is the case, it has no value for resale. Do I understand this correctly?
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T_R_Oglodyte
TUG Lifetime Member
To start you need to understand that membership in DRI's Club is separate from owning a timeshare.
To be a member of the Club, you have to an "ownership interest" in a Diamond Resort. But a person can own at a Diamond resort and not be a member of the Diamond Club. "Ownership interest" will be either a deeded ownership of a unit at a Diamond, or a partial ownership in one of DRI's ownership trusts (or "Collections", as Diamond calls the trusts).
With that distinction in place, your membership in the Club is not transferable. Your underlying ownership is transferable. So what happens when you sell your timeshare is that the buyer acquires your ownership interest in a Diamond resort, but that ownership is no longer connected with Diamond's Club.
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What that means is that when you sell your timeshare, the Club benefits do not go along with it. So the buyer can reserve and use the basic ownership. For example, if the interest is a deeded week at one of the resorts, the owner can use their ownership to reserve a week at that resort as a normal owner. If the ownership is an interest in one of the Diamond "Collections", then the owner can reserve units within that Collection.
What the owner can't do is use that ownership to make reservations at other Diamond properties that are not part of that ownership interest.
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In sum, you can sell what you own and the rights that go with that ownership. You can't sell the Club membership, so the added benefits that are unique to Club membership are not transferable.
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How about if you are adding to a club points package.. I was looking at diamond and when we went through the sales lie,, er pitch they were offering
2000 points and if you "buy today" they through in 1000 points for a total of 3000 point all for only $8200 dollars.. what a deal..
from what i could see 3000 point wont buy you dirt with diamond.. maybe something in a real off season.. their book showed Cypress point on week 39 (low) as 5500.. the salesman told us DRI had reduced that week to 1760 points not the 5500 shown in the book.. got to wonder how long that would last..
so my complete question is if you get points on resale and already have a club package will that add to your points total with all the club bennies..
that was hard to do..
2000 points and if you "buy today" they through in 1000 points for a total of 3000 point all for only $8200 dollars.. what a deal..
from what i could see 3000 point wont buy you dirt with diamond.. maybe something in a real off season.. their book showed Cypress point on week 39 (low) as 5500.. the salesman told us DRI had reduced that week to 1760 points not the 5500 shown in the book.. got to wonder how long that would last..
so my complete question is if you get points on resale and already have a club package will that add to your points total with all the club bennies..
that was hard to do..
T_R_Oglodyte
TUG Lifetime Member
with a simple reply - No.so my complete question is if you get points on resale and already have a club package will that add to your points total with all the club bennies..
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[triennial - points]
That's About The Size Of It.
Points-based club membership that's used with the timeshare cannot be sold.
We are resale all the way, so the no-transfer (i.e., no sale) feature makes that particular timeshare company's points system a complete non-starter for us, even more than the full-freight offerings of the other timeshare companies.
Timeshare itself can be sold.
Points-based club membership that's used with the timeshare cannot be sold.
We are resale all the way, so the no-transfer (i.e., no sale) feature makes that particular timeshare company's points system a complete non-starter for us, even more than the full-freight offerings of the other timeshare companies.
-- Alan Cole, McLean (Fairfax County), Virginia, USA.
Too much. Too restrictive
As far as the POINTS having resale value, yes that is correct. So paying much for them when purchased suddenly doesn't look like a very good choice. We also don't feel giving up your deeded ownership (another way they can get you into the DRI system) is a wise move as, in your case, it is THAT deeded ownership you actually CAN sell.
All in all it is a needlessly complicated and restrictive system of sales / transfer IMO. While we are DRI Club Members we bought at under $1200 many years ago, kept our deed and wouldn't pay more than that to be in today. The lack of resale rights is a big turn off when the purchase gets into thousands.
As far as the POINTS having resale value, yes that is correct. So paying much for them when purchased suddenly doesn't look like a very good choice. We also don't feel giving up your deeded ownership (another way they can get you into the DRI system) is a wise move as, in your case, it is THAT deeded ownership you actually CAN sell.
All in all it is a needlessly complicated and restrictive system of sales / transfer IMO. While we are DRI Club Members we bought at under $1200 many years ago, kept our deed and wouldn't pay more than that to be in today. The lack of resale rights is a big turn off when the purchase gets into thousands.