What happens to this year's usage on Purchase Transaction?

[SunsetMaven]

I'm in the process of negotiations on a Hyatt week. If the seller has reservations booked for after closing, what happens to those bookings? Say it's a Week 30 that I'm closing on and we are closing in March, does the seller retain those reservations? Do the automatically become mine? Or is it a case-by-case basis pending further negotiations?

I can't use the actual deeded week for 2020 and who knows what I'll get able to get once it goes into LCUP so I'm not willing to reimburse 2020 MFs but I'm just wondering technically what happens to the booking? Is there a downside to letting the seller use the week if I'm the new owner?

Just not sure how to think through it. Thanks!

 

[SteelerGal]

The booking would go to you. However it can be agreed upon that the original owner keep the reservation by having them added as a guest. Or they move this years points to II.

 

[SunsetMaven]

The booking would go to you. However it can be agreed upon that the original owner keep the reservation by having them added as a guest. Or they move this years points to II.

Ok thanks! So if it’s not otherwise agreed, it doesn’t default to the seller then.

 

[SteelerGal]

No. This happened w/ my recent purchase however I agreed to pay current fees so a reservation was made for my requested dates.

 

[GTLINZ]

Or they move this years points to II.

I am not sure how moving points (EEE) to II will work before a transfer. I think at least "it depends".

I previously received some EEE points with a purchase - it was the only unit the previous owner had so I assume the EEE points had nowhere to stay since their II account was going away.

I am also in the process of tranferring a different unit to a new owner. I have EEE points associated with the unit I am transferring and my II account will stay - so I am curious if those EEE points will stay with me or move to the new owner. In theory once in II they stay there (if there is an account to stay in).

As far as the HRC reservations are concerned - I have read on TUG threads that they default to the new owner but that it can be put in the transfer instruction to Hyatt that they be kept. I have seen also on multiple threads where people are having problems with Hyatt not doing what was instructed. But in your case (SunsetMaven) if you agreed they stay with the owner then it sounds like you have nothing to lose.

 

[GTLINZ]

I am not sure how moving points (EEE) to II will work before a transfer. I think at least "it depends".

I previously received some EEE points with a purchase - it was the only unit the previous owner had so I assume the EEE points had nowhere to stay since their II account was going away.

I am also in the process of tranferring a different unit to a new owner. I have EEE points associated with the unit I am transferring and my II account will stay - so I am curious if those EEE points will stay with me or move to the new owner. In theory once in II they stay there (if there is an account to stay in).

As far as the HRC reservations are concerned - as previously stated here I have read on TUG threads that they default to the new owner but that it can be put in the transfer instruction to Hyatt that they be kept. I have seen also on multiple threads where people are having problems with Hyatt not doing what was instructed. But in your case (SunsetMaven) if you agreed they stay with the owner then it sounds like you have nothing to lose.

 

[SteelerGal]

The EEE points stay in the associated account. My points were CUP so those transferred w/ the account. EEE points supposedly could be transferred according to other members however I never tried.

 

[GTLINZ]

Well I have an update.

My EEE points are going to the new owner with the unit. My II reservation is staying with my II account.

I believe after talking to a Hyatt II rep that the difference is where the points actually are. Once I made a reservation in II the points were transferred from Hyatt to Interval. Conversely, the EEE points are still with Hyatt until used - do by default they go like any other bucket of points unless there are instructions to do otherwise (that are allowed).

 

[ResaleExpert]

GTLINZ- essentially the reservation is kept by seller FOR INTERVAL not Hyatt; and all EEE and Hyatt points and Hyatt reservations transfer to buyer. This is relatively new as in my 750 Hyatt resales Hyatt USED TO allow reservations to be kept by seller; now they just transfer them SO it is critical to have this part in escrow so the guest certificate can be provided when a seller keeps a reservation. A seller without another Hyatt does NOT keep an Interval account after the reservations are used; but can use the reservation and any trades if they have E-Plus.

 

[GTLINZ]

i think we are in agreement - any points with Hyatt in any form (including a reservation) go to the buyer by default - there are possibilities to change that depending on what type of points they are. I have also read posts in this forum where those special instructions have not been carried out correctly by Hyatt.

But for INTERVAL I think you also have to take the interval account itself into consideration. In theory the seller keeps his Interval reservations because the points have been transferred from Hyatt to Interval. If the seller has at least one remaining contract this is simple because his interval account will stay active - and the seller keeps the ability to use or retrade via Eplus. If the seller does not have at least one more contract, then the interval account will not be renewed at the end of the year and will expire - but it should stay active until the end of the year since it has been paid for. So I would think the owner should put a GC on the reservation in his name if the travel will not be completed before the interval account expires (or even better before the closing). I do wonder though once the Interval account expires at the end of the year if any ability to change via Eplus would go away because the GC likely won't transfer. In some ways I think GCs are permanent and at odds with Eplus.

 

[Pathways]

i think we are in agreement - any points with Hyatt in any form (including a reservation) go to the seller by default

No-no-no - they go to the buyer. See below

GTLINZ- essentially the reservation is kept by seller FOR INTERVAL not Hyatt; and all EEE and Hyatt points and Hyatt reservations transfer to buyer

 

[GTLINZ]

No-no-no - they go to the buyer. See below

Sorry a mistype .. i have fixed it above and i did say buyer in my original post. I agree they go to the buyer by default.

 

[travelhacker]

My brother is looking at buying a Hyatt Week. There are lots of EEE points that expire in pretty soon and it is doubtful that the transfer will be completed in time. The seller has zero interest in using those points, but is actually willing to help us book something so they don't go to waste.

If the seller books something within interval do those reservations get added to the Interval account? Or do they stay with the seller?

I am hoping that we could book something way out and purchase ePlus so that we could swap it to something else, but that may be a bit of a pipe dream.

I assume the seller would need to issue the guest certificate if they stay with the seller which makes it a bit of a hassle.

To salvage them, should I just find something that I want and have the seller book that with a guest certificate, with the understanding that I am up a creek if we can't use the reservation?