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Transferring ownership to a family member

Discussion in 'Marriott Vacation Club' started by dfeetham, Jul 17, 2017 at 11:55 AM.

  1. dfeetham

    dfeetham Guest

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    I want to transfer ownership to a family member who owns Marriott timeshare.
    I own at the surf club. Can I call Marriott to make the transfer or do I have to go through a lawyer to do so.
     
  2. Hi I'm new here

    Hi I'm new here Guest

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    Do they want this timeshare? Not everyone would consider it a "gift" because of the very high maintenance fees. I just read an article about a recipient refusing a timeshare bequeathed to him in a will.
     
  3. silentg

    silentg TUG Review Crew: Expert TUG Member

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    Assuming they want the timeshare. You can contact LT Transfers. We have used them many times, very efficient and not expensive. http://www.lttransfers.com/
    Silentg
     
  4. tschwa2

    tschwa2 TUG Member

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    If it was a US timeshare, I could tell you exactly what you need to do. Since its Aruba, different procedures will apply. You will need someone/thing more than just going through Marriott and the normal US transfer companies like LT probably won't be able to help but you can contact them just to see.
     
  5. rickxylon

    rickxylon Guest

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    I think you can just add their name to the deed for about $100. Got that info from a call to MVCI Owner Modifications a few months ago. I haven't started the process yet. They will send you the necessary forms and instructions.
     
  6. dneveu

    dneveu TUG Member

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    Based on our exoerience, If you have a developer week and the transfer is made from parent to child then it will retain all original benefits. If it is a developer week but transferred to a family member other than a child the original benefits will likely be lost.

    If it is a resale week than it does not matter.
     
  7. m61376

    m61376 TUG Member

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    I think if it is an enrolled resale week, however, then the benefits of enrollment transfer to children as well.
     
  8. kds4

    kds4 TUG Member

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    I also believe that is correct.
     
  9. Dean

    Dean TUG Member

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    I think it has to be gratis for the benefits to transfer.
     
  10. hangloose

    hangloose Guest

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    Is this correct, for certain?

    Parent to Child is the only relationship accepted in order to keep original developer purchased benefits. No Brother to Sister, or Uncle to Nephew?

    I assume the only place this needs to be documented is on the Domestic External Transfer Form?
     
  11. hangloose

    hangloose Guest

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    For U.S. Domestic timeshare, if doing yourself... is this the process?
    1. Transferor Changes Deed In Respective State/County To Show Transferee Name
    2. Transferor & Transferee Fill Out Marriott Domestic External Transfer Packet Form
    3. No ROFR Required if "Gift" (Gratis).
    Is it this simple, what else?

    -
     
  12. dneveu

    dneveu TUG Member

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    Yes in our experience it was documented on external transfer form.

    Our experience: Parents had 2 developer units and gave 1 to each kid. Those retained full benefits. Few years later my brother no longer wanted his unit. We listed proper relations on new transfer forms - between siblings. Unit was transferred and Full benefits were denied as marriott said relationship must be parent to child to retain benefits. Meant unit could not be traded for MR points and could not be enrolled in DC club as transfer was completed about 2 months after DC club start date. While marriott could see all the history from the transfers in their systems they were firm that the last transfer between siblings released all rights per their contracts which allow only for parent to child transfers to retain rights.

    You may wish to check ownership documents or call MVCI owner services
     
  13. SueDonJ

    SueDonJ Moderator

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    Based on TUGger BocaBoy's extensive experience, I've also understood that parent-to-child is the only accepted relationship. If I'm remembering correctly he talked about it in terms of "following bloodline."
     
  14. pwrshift

    pwrshift TUG Member

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    Don't taxation matters arise in a transfer or sale?
     
  15. BocaBoy

    BocaBoy TUG Member

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    Since I am mentioned here, I will come out of "TUG retirement" for this post. Sue is right about "following the bloodline." It can also be grandparent-to-grandchild, but it has to be down the chain of bloodline. It cannot be to a sibling or even up the bloodline, such as child-to-parent. One other point to note. Although I could never find this in any Marriott documents, MVCI has told me the transfer must be a "gift," not a sale, but that can be easily averted by having any exchange of money between the family members occur informally outside of the transaction transferring title.
     
  16. Dean

    Dean TUG Member

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    Potentially gift taxes if it exceeds the limits and capital gains if sold for more than invested though that's unlikely in most cases.

    Having a different terms than on the agreement to bypass ROFR is illegal in all states I know of where a deed is involved.
     
  17. BocaBoy

    BocaBoy TUG Member

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    Not all resorts have ROFR and Marriott does not apply ROFR to this type of intra-family transfer, regardless of consideration.
     
  18. Dean

    Dean TUG Member

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    But wouldn't ROFR be applicable if it was actually a sale rather than a gift, for those resorts that have it. Regardless, doing it under the table would be unethical and dishonest.
     
  19. BocaBoy

    BocaBoy TUG Member

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    No, ROFR is not applied to any top down bloodline transfers, so what is unethical or dishonest about it? There is no tax to avoid, which is the key point. The timeshare documents do not make the sale/gift distinction for DC enrollment eligibility purposes. As I said earlier, some MVCI reps nevertheless say it has to be a gift but tell you how to make it a gift even if some money changes hands. There are also other good reasons to handle the money outside of the contract when it is with family you can trust, namely that closings are much simpler and cheaper.

    Now back to my TUG retirement.
     
    Last edited: Jul 22, 2017 at 12:42 AM
  20. Dean

    Dean TUG Member

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    Regardless, if you do it secretly and intentionally for this reason because it MIGHT or might not be a problem, it would be dishonest.
     
  21. hangloose

    hangloose Guest

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    If a deeded week being gifted through parent/child is enrolled in the D.C. pts program, does that benefit also transfer to the child? What if the child has existing MVC enrolled weeks? What if they don't?
     
  22. Dean

    Dean TUG Member

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    My understanding from reading through the documents is that the paperwork states the benefits transfer to a child, that's it. It doesn't specifically say it has to be gratis but the club will make the final rules and normally for these type situations, it does have to be gratis. For ROFR you'd go back to the underlying POS for enrolled weeks and as I read it, ANY sale has to be noticed and is subject to ROFR and realistically any transfer would have ROFR. Traditionally timeshares have automatically waived ROFR if it's immediate family and gratis. So reading the info I have (older POS MGO) the 2 events (transfer of weeks & transfer of enrolled benefits) would be somewhat separate issues. If one wanted to take the wording at face value, I suppose you could sell to a child, pass ROFR and the benefits might pass though I'm doubtful that would play out in real life since if Marriott decided not to allow it, fighting them would be too large of a mountain to climb. The other caveat is if ROFR is required is legally one would have to put the actual terms agreed to in a contract. Obviously this creates situations that can be manipulated but those could be criminal offenses as well as a test of one's character.

    As for what happens if the child is already enrolled, I think you'd have to ask Marriott to be sure. Extrapolating from this info, each resort would be handled differently based on whether it had ROFR or not. I think it reasonable to assume the benefits would transfer to a child if the week were transferred. Other questions would be whether they would combine them to the existing account or force them to be independent and whether a family member who didn't get the enrolled benefits could enroll again and under what circumstances. What happens if a transfer happens to more than one person where one would meet the criteria and one would not such as a daughter and SIL or even a child and niece/nephew together. As I read the enrolled paperwork, the grandchild is a flexibility not technically spelled out.

    Admittedly much of this opinion is from reading the wording on the enrolled documents and a single older POS though it also comes from a significant amount of experience with transfers and ROFR from points type systems with ROFR of some type or another. I realize that sometimes the POS changes over time though normally not to be more restrictive to the masses for something like this and I realize that in practice sometimes thing are different than you'd think based on the technical/legal wording.
     
  23. pwrshift

    pwrshift TUG Member

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    I'm a single father and when I bought the last 4 of my 6 TS I had one child's name (all adults) put on the deed with mine as it was explained it would pass to them in survivorship without any problems. Hope I'm correct. Of course that was in the days of several thousand dollars for purchase and $400 MF.

    However, I always thought my kids would have to buy (or sell) the other 2 TS but this thread suggests I can 'gift' them to my kids...I assume that has to be in my will or can it be worked out after my death?

    I assume USA tax rules apply even thought I'm Canadian but haven't checked that out yet.
     

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