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Do you lose your banked staroptions when you sell your week?

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by boisebruin, Jan 26, 2019.

  1. boisebruin

    boisebruin Guest

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    I am in the process of buying OF WKORV-N and selling our current IV unit at the same resort. Does anyone know if I will lose my banked options when I sell my current unit? Is there a way to transfer it to my new purchase if I buy before the sale of the current IV unit? Thanks in advance.
     
  2. Ken555

    Ken555 Tug Review Crew: Rookie TUG Member

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    It’s been posted here previously that if you don’t have an active account you will lose your banked SOs. I would suggest asking VSN via the web form for an answer to this question so you have the response via email for future reference (as opposed to a call).


    Sent from my iPad using Tapatalk
     
  3. boisebruin

    boisebruin Guest

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    So if I buy the OF unit before selling the IV unit then I would have an active account and keep my SO? Thanks for the advice. I will send an email to VSN.
     
  4. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    As long as you have some type of ownership to keep your account open, Banked StarOptions are retained. If you sell off all your weeks, I am unsure where they go. I suspect they are lost, but not 100% sure. Also not sure if you have some mandatory and some voluntary and sell all of your mandatory, do the banked options remain? As @Ken555 said, the best answer would be in writing from Vistana. Still a good chance they won't know either.
     
  5. boisebruin

    boisebruin Guest

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    This is what I got back from Vistana:

    I welcome the opportunity to provide information on your inquiry.

    It is important to know, if you decide to sell your Vacation Ownership Interest (VOI), you will forfeit your Banked StarOptions. Additionally, they cannot be transferred to a new purchased VOI, as they belong to the contract you're looking to sell.

    Please let us know if we may assist you further.

    Have a pleasant day.

    Sincerely,

    Ana Maria V.
    E-Communications Specialist
     
  6. SandyPGravel

    SandyPGravel Guest

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    I certainly am not an expert on this, but the answer doesn't make sense. Once options are banked they don't belong to a "contract". Also if that were true, the options should go to the new owner, which I know does not happen. I thought if you have an active account you keep your banked options. Maybe the person who answered was confusing banked options with unbanked options in your account. The answer makes sense for unbanked options. Also, for an owner with multiple VOI that have banked options VSE would have to be able to pull out certain banked options from the bank while leaving others. Certainly that would be possible but I doubt they have a program designed to determine which options belonged to each VOI. I would escalate this up the food chain.
     
  7. LisaRex

    LisaRex TUG Member

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    At one time, I had multiple mandatory VOIs. I decided to sell one, and asked ahead of time, via their internal email, what would happen to my SOs. They said that as long as I had an active account, I would retain them. Alas, they disappeared after the one unit was sold. I called them and was able to prove that they gave me misleading information and they restored them to me. However, they did inform me that that I should have contacted Owner Services ahead of time so that they could make a notation on my file.

    I'd ask again. And I'd keep the email.
     
  8. LisaRex

    LisaRex TUG Member

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    And, yes, if you sell before you've used all your SOs, and do not have another VOI, you forfeit the SOs. It's like having credit card points and cancelling your card. Smoke 'em if you've got 'em.
     
  9. boisebruin

    boisebruin Guest

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    Does that include your non banked SO? Lets say I booked a 2 br unit in November using my 2019 points and I sell the unit before that. Does that reservation get taken away?
     
  10. dioxide45

    dioxide45 TUG Review Crew: Veteran TUG Member

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    I agree. They aren't tied to a VOI once they are banked. They move in to a different bucket. I have banked SOs and then sold the week without losing the banked SO's. Though I have always maintained some other VOI in my account to keep it active. If you sell your lone VOI when you have banked SOs, those banked SOs would be lost.
     
  11. DeniseM

    DeniseM Moderator

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    YES - Unless you specify in your sales documents that the new owner's usage doesn't start until 2020, and also contact the title office and make sure that you document it with them. I know of two people who lost reservations this way and Vistana said "tough luck." Even worse, both reservations were rented! :doh:
     

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