Should I take my over my parents SVR weeks?

[jabberwocky]

Well, I guess everyone has to get old at some point. My parents have owned at SVR since the mid-90's (pre-Starwood days). They did opt-in when Starwood created the SVN program and have been using their weeks (2BR EY and 2BR EOYE) every year at SVR (they did visit SDO one year when I dragged them along for Christmas).

Due to health concerns (heart issues for my mother, a cancer scare last year for my dad) it is looking like their traveling days may be over as my mother is being advised not to fly. This will be the first year that they have not used their weeks since they purchased and they will be banking the SO.

The topic came up this weekend about whether I would like to take them over - free of course. I do have a sister who isn't interested in them so it's either I take them over or they go back to Vistana.

Both units come with 81,000 SO (so effectively 121,500 SO with EOY adjustment). SO would transfer to me even though it is a voluntary resort.

Should I pick them up?

I don't have an emotional attachment to them so that isn't a consideration at all. We have plenty of family budget room even with our current TS (SVR EY, WKORV-N, EOYO, SDO EOYE and Flex - 67,100 EOYO). Even if we don't use them they are pretty reasonable SO generators (MF/SO is lower than SVV Bella, Key West and WKV).

 

[VacationForever]

SVR is a very cost effective SO generator, better than SVV. I would say if you can use the SOs, take it. I have a SVR with 95,700 SOs with much lower MF/SO than any of the SVV mandatory phases.

 

[dsmrp]

Yes, if you can use the SOs in addition to what you already have, I would take them.

 

[vacationtime1]

It's a good deal for you and it's a good deal for your parents.

This would be one of those rare win/win's in the timeshare world.

 

[JudyS]

I general, I'd with everyone else here. The Cost per SO is very good. The only question I have is whether the Flex ownership gives your priority into resorts you want. If it doesn't, you might as well take these SVR ownerships and deed back the Flex ownership. The cost per SO is pretty mediocre with the Flex ownerships.

Actually, I've been wondering how good availability is with Flex. Maybe I'll start a thread on that.

 

[jjking42]

Keep them and if you don’t need the extra SO sell one of the mandatory that you own


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[SandyPGravel]

I'll probably be in the same boat you are in. My mother still has a SVR EOYE. I think it's a 67,000 SO week. So unless she disposes of it on her own, which is highly unlikely she has no idea how to use it and won't bother to learn, I'll have to decide if I want to add it to my weeks.

 

[controller1]

I general, I'd with everyone else here. The Cost per SO is very good. The only question I have is whether the Flex ownership gives your priority into resorts you want. If it doesn't, you might as well take these SVR ownerships and deed back the Flex ownership. The cost per SO is pretty mediocre with the Flex ownerships.

Actually, I've been wondering how good availability is with Flex. Maybe I'll start a thread on that.

The thread you started pertains to Sheraton Flex. However, OP owns Westin Flex so if OP wishes to make Westin home resort reservations and not wait until 8 months out it would not make sense to dispose of the Westin Flex ownership as the SVR ownerships will not provide the same flexibility for the Westin resorts in the Westin Flex program.

 

[CalGalTraveler]

Make sure the transfer enables you to get the SOs since this is voluntary. Alternatively keep it in your parents name and pay the bill's so you keep the SO rights.

 

[jabberwocky]

Make sure the transfer enables you to get the SOs since this is voluntary. Alternatively keep it in your parents name and pay the bill's so you keep the SO rights.

Thanks - confirmed with Vistana that the SO will transfer along with the title into our names. It would be good to have them all together in one account and avoid GC fees.

 

[jabberwocky]

I general, I'd with everyone else here. The Cost per SO is very good. The only question I have is whether the Flex ownership gives your priority into resorts you want. If it doesn't, you might as well take these SVR ownerships and deed back the Flex ownership. The cost per SO is pretty mediocre with the Flex ownerships.

Actually, I've been wondering how good availability is with Flex. Maybe I'll start a thread on that.

The thread you started pertains to Sheraton Flex. However, OP owns Westin Flex so if OP wishes to make Westin home resort reservations and not wait until 8 months out it would not make sense to dispose of the Westin Flex ownership as the SVR ownerships will not provide the same flexibility for the Westin resorts in the Westin Flex program.

I should have been more specific in which Flex program I owned - we do own Westin Flex which gives us the 12 month priority window for Hawaii. We wanted to add 3-4 days in a 2BR when we go to WKORV-N for our homeweek stay (two full weeks is just a bit too long, seven days too short). We also got to retro our SDO Plat. with the WFlex purchase. So far I've been fairly happy with what I've seen available in Flex (haven't booked it yet, but am watching).

 

[jabberwocky]

Thanks for the feedback. I'll go ahead and take them over. We will be able to make good use of them and most likely invite more friends/family to join us.

 

[pchung6]

Yes, if you can use SOs from SVR, definitely take it.

 

[SandyPGravel]

Thanks for the feedback. I'll go ahead and take them over. We will be able to make good use of them and most likely invite more friends/family to join us.

I know this is a bad way to phrase this, but "make sure" Vistana transfers the ownership correctly. My mother gave me one of her SVR resorts (she had a total of two weeks every year and one EOY at SVR) When she transferred some of them to me Vistana recorded the transfer as a resale. It was a nightmare. (I should ask my step-sister if she had the same problem. We both received the equivalent of one annual week ) I'm sure my mother didn't emphasize that she was gifting to her child when she signed them over.

 

[Bierhund]

I'm sure my mother didn't emphasize that she was gifting to her child when she signed them over.

I'm not sure if this is still the way it works, but Vistana (Starwood at the time) required a notarized letter from the owner stating that the ownership was being gifted to an immediate family member, and requesting network membership for the recipient.
We did receive network membership and star options by this method, even though it was from a voluntary resort. However, the ownership is still listed in our portfolio as a resale. That is because it is an "authorized" resale as opposed to a developer sale. A third party sale would be an "unauthorized" resale.

 

[carpie99]

I am willing to be someone's son if anybody wants to gift me over a free week

 

[JudyS]

I should have been more specific in which Flex program I owned - we do own Westin Flex which gives us the 12 month priority window for Hawaii. We wanted to add 3-4 days in a 2BR when we go to WKORV-N for our homeweek stay (two full weeks is just a bit too long, seven days too short). We also got to retro our SDO Plat. with the WFlex purchase. So far I've been fairly happy with what I've seen available in Flex (haven't booked it yet, but am watching).

Thanks for the info!

 

[CalGalTraveler]

Glad your parents had a valuable resort to give you. Normally I vote for not taking over in name by younger people due to exit concerns, but this is deeded in Florida so if life/economy/travel took a wrong turn and you were unable to use SOs, you could walk and all they called could do by law is recoup the timeshare. So this is a good property to own from a worst case scenario.

 

[DannyTS]

Also ask Vistana if they would buy back that contract. If they do, I really do not see you taking any risk, just advantages. Of course that buyback policy may change in the future but it is still a strong indication you may not be stuck with it if you change your mind later.

 

[SandyPGravel]

I'm not sure if this is still the way it works, but Vistana (Starwood at the time) required a notarized letter from the owner stating that the ownership was being gifted to an immediate family member, and requesting network membership for the recipient.
We did receive network membership and star options by this method, even though it was from a voluntary resort. However, the ownership is still listed in our portfolio as a resale. That is because it is an "authorized" resale as opposed to a developer sale. A third party sale would be an "unauthorized" resale.

Interesting. So no matter what it will say "resale". That makes it difficult when discussing ownership with the sales department. I argued it was an inheritance, they said it was listed as resale. I guess we were both correct. Hopefully Marriott handles this better. I'm not holding my breath from what I've experienced and others have commented on.

 

[Bierhund]

Interesting. So no matter what it will say "resale". That makes it difficult when discussing ownership with the sales department. I argued it was an inheritance, they said it was listed as resale. I guess we were both correct. Hopefully Marriott handles this better. I'm not holding my breath from what I've experienced and others have commented on.

Every once in a while, we confuse the daylights out of a sales person at an owner's update when they can't figure out how we have staroptions associated with a resale at a voluntary resort. The bottom line is that, as long as your dashboard shows staroptions for your SVR ownership, it doesn't matter what they call it! Other than occasionally confusing sales people, we have never had an issue with terminology. Usually, everyone seems to be satisfied when we explain that it is a legacy transfer.