If I pay the $695 fee to join the program, my existing weeks give me legacy points, which will not get you the trust points inventory--an inventory that, apparently, will only be available to those who are 1) joining for the first time and are buying TRUST points, or 2) existing owners who pony up for MORE POINTS!
It's true that there are two pools on DC points inventory. Unfortunately, Marriott Vacation Club has not done a good job explaining the difference, or how the difference affects owners in each category, or why there
has to be difference for the program to be fair and legal.
Despite what some Marriott salespeople have told Legacy owners in an effort to sell Trust Points to them (according to reports on this forum), "existing owners who pony up for MORE POINTS" do not suddenly gain access to Trust inventory with their Legacy ownership, only with their new Trust Points
Also, if a Marriott salesperson claims that enrolled owners have no access to Trust inventory, that's technically correct, but it's misleading. Enrolled owners do have access to Trust inventory that's swapped into the Legacy exchange pool. Without such swaps, Trust owners would have no access to older properties.
Instead of thinking of Trust Points and Legacy Points, think of them as two pools of inventory represented by Trust Points and Legacy
Exchange Points.
The good news is that inventory can move back and forth between the two pools. However, the move must be initiated from the Trust side. At first glance, that may seem like preferential treatment for Trust owners at the expense of Legacy owners. But it really has to do with what kind of ownership each pool represents and who has access to it.
The owned inventory in the Trust is sort of a real estate "mutual fund." The Trust DC point owners can do things with Trust inventory, proportionate to their ownership interest. Among other things, they can use it, trade through II, trade for Marriott Reward points, or trade through the legacy owner exchange pool.
The Legacy Exchange Pool is specifically set up to for trading. In a way, it's Marriott's own version of Interval International, except that the metric for exchanges involves DC points, not weeks. The only inventory in this pool comes from Legacy owners who opt for points for a particular year rather than using their week in a traditional way (occupy, exchange through II, rent out, etc.).
Someone who does not own a piece of the Trust cannot simply grab something out of the Trust, even if they provide something of value in return. It's not exchange inventory; it's Trust inventory.
If I, as a Legacy owner, opt for DC points instead of using my week to stay where I own, I've effectively deposited that week into the exchange pool with the expectation that it will be used for exchanges.
I think that explains why moving inventory out of the Trust can be initiated by Trust owners, but not by legacy owners. However, in the end, Trust inventory does get into the legacy owner exchange pool whenever a Trust owner initiates such as swap.
In the long run, the success of Marriott Vacation Club depends on Marriott's ability to keep owners satisfied. That includes not only running excellent timeshare resorts, but now also running an excellent, points-based reservation and exchange system for Trust owners and Legacy owners.
Three disclaimers/comments: (1) I am not a lawyer. (2) My understanding is that the explanation above is correct, but it's a bit more complicated (including Marriott's ability to swap inventory with II), and I could be missing something. (3) This reply is partially edited from some of my replies in this thread:
http://www.tugbbs.com/forums/showthread.php?t=145119