Although no rules listed are being broken the form doesn't seem to say that it is applicable if you want to sell or transfer the membership separate from selling or transferring your ownership interest in the timeshare. It does say it is a separate asset and you can choice to retain it or transfer it to the person who recieved the timeshare. It does not indicate that it is an asset that can be transferred separate from the transferred unit(s). The language of the form itself seems to be the only applicable transferee is the individual who you sold or transferred the timeshare to. At one point RCI was allowing the transfer of credits using this form but I believe that is no longer the case but it may depend on who receives the form and processes it. It is on the ambiguous side. My understanding in the past was the membership had a transfer fee and each credit deposit had a separate transfer fee.
From the form:
When to Complete the Membership Transfer Application: • If you have sold one or more of your timeshare weeks. • If you have transferred all or part of your ownership in a timeshare week(s) by means other than a sale (for example, a gift transfer or a transfer as a result of a divorce or separation agreement). Please note that your RCI subscription is an asset separate from your timeshare interest. As the Transferor(s), you may either retain your RCI subscription or transfer it to the new Transferee(s). Step-by-Step Instructions on How to Complete the Membership Transfer Application: • Before completing this application, you should notify your home resort(s) of any changes that need to be made to your ownership document(s). • Provide RCI a copy of the updated deed(s) along with this application by fax at 1.317.805.9335 or mail to RCI, P.O. Box 2099, Carmel, IN 46082-9992, Attn: Customer Service. • Any incomplete sections may delay processing. A. TRANSFEROR(S) • This section must be completed by the individual(s) who sold or transferred the timeshare interest(s). List the name(s) that currently appear on the RCI subscription and all other information requested. • If two people are listed on RCI membership, provide both signatures or legal documentation showing only one is required. B. TRANSFEREE(S) • This section must be completed by the individual(s) to whom the timeshare interest(s) were sold or transferred. List the name(s) that you wish to appear on the amended RCI subscription and complete all other information requested. • Please note due to systems limitation, we can only have two names on the RCI Subscribing Membership
