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[Marriott Destination Club] point owner's share of SA (special assessments)

Discussion in 'US - Florida Timesharing' started by suenmike32, Dec 3, 2017.

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  1. suenmike32

    suenmike32 TUG Member

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    Location:
    Albany, NY
    Resorts Owned:
    MOP, MOW
    Do point owners ever see an increase in MF's do to damages to at affected resorts (as in Fl, NC & SC as well as the Caribbean). Some of the Marriott resorts are still closed (Frenchman's Cove).
    Many of the resorts are seeing MF's go up due to disaster recovery fees.
    I'm just curious as to whether point owners ever have to pay or does it all fall on the shoulders of the legacy weeks owners only. Point owners certainly get to use the facilities after repairs are complete.
    Mike
     
  2. theo

    theo TUG Review Crew: Veteran TUG Member

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    Forgive my ignorance, but what exactly does "DC" stand for in the subject line of your post? :shrug:
     
  3. tschwa2

    tschwa2 TUG Member

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    Location:
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    Resorts Owned:
    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    Every week that has been placed in the trust from a resort with a SA will have an SA. The SA will be spread out among all the trust owners. So to use round numbers if there are 100 million points in the trust total and 1,500,000 points are associated with 500 unit week that each have a $400 special assessment then the trust has $200,000 in special assessment which would be divided by the 100,000,000 points. So for every 1000 trust points owned, the owner would be responsible for $2. I am sure the numbers aren't correct rest assured that every week from a resort with a special assessment that has been deposited in the trust will be paid by the trust owners as a whole. (Hopefully I carried all my zeros but if I didn't the principle is the same.

    DC= Destination Club - The Marriott trust from which Beneficial Interests (BI) are sold.
     
    SueDonJ likes this.
  4. SueDonJ

    SueDonJ Moderator

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    Resorts Owned:
    Marriott Barony Beach and SurfWatch
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