Change of Ownership will determine the new Owner entitled to income for the Owned Area.

Overview 

Change of Ownership will determine the new Owner entitled to income for the Owned Area.

Complete the Change of Ownership in RMS on or as close to the actual settlement date as possible.

The 'From' Date must reflect the actual settlement date for the Area and cannot be changed once the contract has been saved.

The 'To' date on the current Owner Contract will be automatically updated to end using the 'From' date selected on the new Owner Contract.

Change of Ownership cannot be completed if a reservation in the Owned Area has stay dates crossing over the settlement date.

Reservations crossing a settlement date can be split in two to ensure each Owner receives the appropriate Owner Income.

A maximum of 5 Owners can be added to an Owner Contract.

The Income Share for the Primary Owner will be automatically adjusted based on the Income Share for each additional Owner.

Owner Stays and FOC Stays are legacy fields that are only viewable on the Owner Contract.

The Owner Stay Condition will appear on the Owner List Report.

Change of Ownership for Trust Pooling will automatically update the pool to transfer existing lot entitlements to the new Owner on the settlement date.

Change of Ownership for an Interconnecting Area should only have the Owner Contract added to the Interconnecting Master.

Guide

In the side menu of RMS, go to Charts > Booking Chart.

1. Expand the Category.
2. Select the Area Description.
   
    
3. Select 'Edit Area'.
   
    
4. Select 'Add'.
   
    
5. Select 'OK' to confirm.
   
    
6. Select a Contract Type.
   Enter the Guaranteed Amount or Minimum Amount if not a Standard Contract.
7. Select the From Date as the Settlement Date.
   Select a Lease Renewal Date (Optional).
8. Select the Primary Owner.
9. Select the Owner Banking Details.
10. Select the Owner Statement Email option.

11. Select 'Save\Exit'.
    Select Add after saving if needing to add additional Owners.