Non-Transferability of Membership

[Spence Super Moderator Find all posts View Profile Close Spence]

Non-Transferability of Membership

As stated in the Charter of Club Sunterra

Non-Transferability of Membership. Membership in the Club shall be personal to the Member and may not be voluntarily or involuntarily assigned or conveyed regardless of whether the purported assignment or conveyance is to the successor in interest to such Member's Qualifying Interest. A Member who no longer owns any Qualifying Interest at any Affiliated Resort or in an Affiliated Multi-Site Plan will no longer be a Member. The Club shall not recognize any voluntary assignee or transferee with respect to any membership rights which would have been recognized with respect to the assignor/transferor Member. The new owner of a Qualifying Interest previously subject to this Charter will not automatically become a Member, but must execute independent Membership Documents to become a Member and must pay such initial membership fees as may be established by Club Manager. Policy exceptions to this non-transferability rule may be established by the Club Manager who may charge an administrative fee with respect to each instance that an exception is implemented.

"Qualifying Interest"
Means (a) an interest in an Affiliated Club Resort, in an Affiliated Multi-Site Plan or in some other program or system entitling the owner thereof to the use or occupancy or both of an Accommodation or to obtain an Other Redemption Opportunity, including, but not limited to (i) a fee simple estate, an estate for years, or some other ownership interest in real property coupled with a right to occupy an Accommodation or one of a group of Accommodations in that real property according to the applicable Declaration, (ii) a leasehold or "right to use" interest, or other contractual right to use or occupy an Accommodation or one of a group of Accommodations or to obtain an Other Redemption Opportunity, (iii) "points" or any other medium symbolically representing the right to use or occupy an Accommodation or one of a group of Accommodations or to obtain an Other Redemption Opportunity, or (iv) any other ownership or contractual interest or right which gives the owner or holder the basis to reserve occupancy for a period of time in an Accommodation or in one of a group of Accommodations or to obtain an Other Redemption Opportunity, or (b) such interest as Club Manager may choose to accept in connection with bestowing membership on the owner or holder thereof from time to time in accordance with the provisions of this Charter.

[eagleman Junior Member Find all posts View Profile Close eagleman]

Transfer of interest

If I read the statement properly it appears to me that I may not be able to sell my points and membership in DRI. I have a problem in that because of a family illness it is difficult at best to travel to any resort not reachable in no more than one days travel by car. After numerous attempts to secure space at any resort on the West Coast during one years time I find that my points are virtually useless since no space is available where we wish to travel. I would like to sell my membership along with the accumulated points in my account but with the restrictions written in their policy this may not be possible. Does anyone have a solution for me? I am open to discussion as I would like to divest myself of any interest in this program.

[Spence Super Moderator Find all posts View Profile Close Spence]

If I read the statement properly it appears to me that I may not be able to sell my points and membership in DRI. I have a problem in that because of a family illness it is difficult at best to travel to any resort not reachable in no more than one days travel by car. After numerous attempts to secure space at any resort on the West Coast during one years time I find that my points are virtually useless since no space is available where we wish to travel. I would like to sell my membership along with the accumulated points in my account but with the restrictions written in their policy this may not be possible. Does anyone have a solution for me? I am open to discussion as I would like to divest myself of any interest in this program.

If your points are paid for you can sometimes get DRI to take them back, last reported that current MFs must be paid in full, current points cannot have been used, and you must pay their closing company choice the closing fees. Or you can sell it on eBay for whatever you can get, if it's paid in full. If not paid off, you have no chance of divesting yourself other than to let DRI foreclose.

[Roadster Junior Member Find all posts View Profile Close Roadster]

Do you have any information as to what happens in a DRI foreclosure? Is it similar to a regular foreclosure...does it ruin your credit history?

[DRIvaDiva Banned Find all posts View Profile Close DRIvaDiva]

Do you have any information as to what happens in a DRI foreclosure? Is it similar to a regular foreclosure...does it ruin your credit history?

That is certainly the threat, with the US Collection there is no deed so it's a letter and a push of the button and it's on your credit history.

[longtimer Senior Member Find all posts View Profile Close longtimer]

If I remember correctly, it's only the club membership that can't be transferred. I thought you can sell or give away your TS (as long as it's paid for and MFs are up-to-date).

[dcwojo Senior Member Find all posts View Profile Close dcwojo]

Points can be sold or transfered. The membership does not transfer. Log on to the DRI website and ask the question on their forums page and they will give you a better more detailed answer. They will also direct you to the right people at diamond to get things started.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

If the points transfer but the membership does not, how will the new owner make a reservation unless they are already an owner, or are willing to purchase a membership directly from DRI?

This is a program that I have always kept at arm's length unless there was a deeded week/unit behind the points. When I get questions or listing requests- I've generally always referred them out to other brokerages.

Since Diamond still seems to be growing, I guess I should finally take the time to learn.

[dcwojo Senior Member Find all posts View Profile Close dcwojo]

The points are in specific collections in which they can trade. The club is seperate and is a cost over and above the maintenance fees. When points are transferred the recipient used to be able to pay an up front fee of around $3000 to join the club and then pay the yearly membership fee with the maintenance fees.