Points week owner...resale question

[iamnotshopgirl]

I tried doing a search on Tug and came across SueDonj post FAQ and her summary but could not find the information I was looking for. I remember a post that appeared (or within another post) concerning the resale of points owned weeks in the DC. If I recall right there is no real option of selling a points owned week as yet in DC and if you try to sell the restrictions on the new buyer may not be attractive and are costly. I was hoping that someone could direct me to the Tug link or maybe list some of those restrictions as they stand right now and how you expect Marriott to change them in the future. I am wondering what would happen if an owner had to sell because of some life event like death, divorce or job loss etc. sure if you are a week (s) owner you can sell on the market but what happens to the points owner is his weeks basically worthless? Thanks in advance for any help and advise.


bob

[dioxide45]

It is mentioned in the last post in the very first Sticky in the forum.

[m61376]

I assume you meant DC.
The waters are murky. At least one Tugger has been told that the points will have full reservation privileges with payment of an education and enrollment fee (minimum of $2300, if I remember correctly), but the language in the offerings doesn't substantiate that and right now the resale of points is questionable. There is some verbiage which indicates they may only be used less than 60 days out. Until someone here volunteers to be the guinea pig I don't know if we'll know for certain what the status and procedures are, since Marriott seemingly has failed to address this very real issue.

[TheTimeTraveler]

Originally Posted by iamnotshopgirl

I tried doing a search on Tug and came across SueDonj post FAQ and her summary but could not find the information I was looking for. I remember a post that appeared (or within another post) concerning the resale of points owned weeks in the DC. If I recall right there is no real option of selling a points owned week as yet in DC and if you try to sell the restrictions on the new buyer may not be attractive and are costly. I was hoping that someone could direct me to the Tug link or maybe list some of those restrictions as they stand right now and how you expect Marriott to change them in the future. I am wondering what would happen if an owner had to sell because of some life event like death, divorce or job loss etc. sure if you are a week (s) owner you can sell on the market but what happens to the points owner is his weeks basically worthless? Thanks in advance for any help and advise.


bob

Are you talking about a deeded week which has been converted to points? If so, that deeded week can be easily resold without any restrictions, however the points option will no longer exist upon sale.

If you have purchased points directly from Marriott then that is a different story, and their resale use and viability is still very murky.



.

[iamnotshopgirl]

Originally Posted by TheTimeTraveler

Are you talking about a deeded week which has been converted to points? If so, that deeded week can be easily resold without any restrictions, however the points option will no longer exist upon sale.

If you have purchased points directly from Marriott then that is a different story, and their resale use and viability is still very murky.



.

Yes, I was talking about a deeded week converted to points. The link above provides the information that I was looking for and clarified my misunderstanding. If my understanding is now correct to get out of the points program with an enrolled week the only thing I would have to do is NOT to pay the annual Club Dues Fee. The below is a quote from SueDonj's post.

"But if you're talking about enrolling Weeks and wondering what happens when you want to sell your ownership, it's much more simple. DC enrollment does not materially change the deeds connected to enrolled Weeks; it's simply an overlay-type exchange system in which you can elect on an annual basis to convert your enrolled Weeks to DC Points for use in the DC Exchange Company. Once you've paid the enrollment fee your Weeks will be eligible to convert to DC Points as long as you continue to pay the annual Club Dues fee. During the time period when your Weeks are enrolled and your Club Dues fees are current, you can use your Weeks in all the same ways that you always have in addition to the DC Points-conversion exchange option. When you no longer want your Weeks to be enrolled, simply don't pay the next Club Dues fee and your Weeks will be un-enrolled. Re-enrollment by you will be subject to whatever rules and fees are in effect at that time.

When it comes to selling Weeks which have been enrolled in the DC, what you will be selling is your Week - the DC Enrollment will not transfer to the new owner. Plus, at that point it will be a post-6/20/10 external resale, which means that it will not be eligible for re-enrollment by the new owner."

[SueDonJ]

Originally Posted by iamnotshopgirl

Yes, I was talking about a deeded week converted to points. The link above provides the information that I was looking for and clarified my misunderstanding. If my understanding is now correct to get out of the points program with an enrolled week the only thing I would have to do is NOT to pay the annual Club Dues Fee. The below is a quote from SueDonj's post.

"But if you're talking about enrolling Weeks and wondering what happens when you want to sell your ownership, it's much more simple. DC enrollment does not materially change the deeds connected to enrolled Weeks; it's simply an overlay-type exchange system in which you can elect on an annual basis to convert your enrolled Weeks to DC Points for use in the DC Exchange Company. Once you've paid the enrollment fee your Weeks will be eligible to convert to DC Points as long as you continue to pay the annual Club Dues fee. During the time period when your Weeks are enrolled and your Club Dues fees are current, you can use your Weeks in all the same ways that you always have in addition to the DC Points-conversion exchange option. When you no longer want your Weeks to be enrolled, simply don't pay the next Club Dues fee and your Weeks will be un-enrolled. Re-enrollment by you will be subject to whatever rules and fees are in effect at that time.

When it comes to selling Weeks which have been enrolled in the DC, what you will be selling is your Week - the DC Enrollment will not transfer to the new owner. Plus, at that point it will be a post-6/20/10 external resale, which means that it will not be eligible for re-enrollment by the new owner."

It might help to think of it like the relationship between Marriott Rewards Points and the timeshares. Prior to the DC inception if you purchased a Week direct from Marriott you got the MRP-exchange benefit, but upon external resale of that Week the MRP-exchange benefit does not transfer to the new owner. The MRP-exchange benefit is simply an add-on feature to certain purchases.

Well, if you enroll your Week(s) what you're essentially doing is purchasing an add-on feature which entitles you to choose another usage option on an annual basis. Enrollment does not change your original purchase. When you sell your Week(s) you will be selling exactly what you purchased - the Week - and the add-on DC Enrollment will not transfer to the new owner (like the MRP-exchange option of direct purchased Weeks.)

[iamnotshopgirl]

Thank you all for your input it is appreciated.

bob