- Joined
- Apr 30, 2016
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- 2,829
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- SVR, SDO, WKORV-N, Westin Flex, HGVC (BLVD)
Well my parents have sadly come to the realization that their days of traveling widely are coming to a close. With their health conditions it is just getting too difficult for them to travel (my mom needs oxygen on the plane and flight schedules have become a headache. Add in changes to their health insurance eligibility in and it’s clear they can’t use their Vistana timeshares. (Apologies in advance for the length of this post).
Exchanges to Canada are relatively limited and most which are within driving distance from their home are in the mountains (which my mother wants to avoid given O2 levels at higher elevations).
My sister doesn’t want the timeshares (two Gold Orlando SVR weeks - 81,000 SO). The MF/SO ratio isn’t too bad and will transfer to me if I take them over. We are in a very comfortable financial position and can easily afford to take them on.
I’ve talked to my parents and they are wanting me to take them over in a two-step process:
1) They would add my name to the TS week, but they would keep their names on. This way if they do want to travel they can still use it without guest certificates and be treated as owners on property. I will be making the MF payments and they will refund me if they use any time.
2) after one/both of them passes or move into a long term care facility, the TS would move into my name and then we would add my spouse.
my question is does anyone see an issue with this? I think we will have to get two sets of deeds done. One for each transfer, correct?
Because ownership will be different for this one than my existing weeks, they can’t add it to our existing Vistana account (so I’ll essentially be paying double the club fees). Or is there a way around this? Ideally if it could be added I think it would put me close to Chairman status with the new program.
Exchanges to Canada are relatively limited and most which are within driving distance from their home are in the mountains (which my mother wants to avoid given O2 levels at higher elevations).
My sister doesn’t want the timeshares (two Gold Orlando SVR weeks - 81,000 SO). The MF/SO ratio isn’t too bad and will transfer to me if I take them over. We are in a very comfortable financial position and can easily afford to take them on.
I’ve talked to my parents and they are wanting me to take them over in a two-step process:
1) They would add my name to the TS week, but they would keep their names on. This way if they do want to travel they can still use it without guest certificates and be treated as owners on property. I will be making the MF payments and they will refund me if they use any time.
2) after one/both of them passes or move into a long term care facility, the TS would move into my name and then we would add my spouse.
my question is does anyone see an issue with this? I think we will have to get two sets of deeds done. One for each transfer, correct?
Because ownership will be different for this one than my existing weeks, they can’t add it to our existing Vistana account (so I’ll essentially be paying double the club fees). Or is there a way around this? Ideally if it could be added I think it would put me close to Chairman status with the new program.