# Has Anyone Here Inherited Their Marriott?



## csalter2 (Oct 2, 2013)

I often read the posts here when people constantly write things like don't buy from the developer, don't finance, rent only, etc., etc, .etc.  While I understand the philosophies of those points of view, I often think that some of those posters are quite shorted sighted because they don't always understand the buyers circumstance. For some, money is not an issue, so buying from the developer is not an issue. Of course, if you know about the resale market, it is cheaper but heck, even if I know about resale, I will still buy from the developer may be the attitude of those who have it. 

However, what about the person who plans to leave their Marriott weeks to their children. Their children love timesharing and can afford it too. Now, the purchase from the developer or resale is less significant or not at all. Now financing is insignificant because, you have enjoyed it and your grandchildren now enjoy it. Now you're glad you're owning instead of renting one seems to make sense  and you're glad you did buy. 

I have a cousin whose mom and dad owned a timeshare in The Poconos. Her parents have both passed, but she and her son remember going there with them. They still visit there and exchange to many, many destinations. 

I have read posts where people say they would never give it to their children. However, are there people here who have inherited their timeshares and are grateful that they have it? Are there any who have inherited the timeshares and regret that they inherited it or assumed its ownership?  I would love to hear your experience.


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## SMHarman (Oct 2, 2013)

You raise three points here
*1) For some money is not an issue, so buying from a developer is not an issue...*
Some have money to burn, most don't, we all make decisions about where we want to spend our money, just like some will pay a premium to buy a new home that nobody before them has lived in or buy a new car others may choose to buy a 'new' timeshare, however the 'newness' of that timeshare is not really the same as like any other shared room it is highly unlikely you will be the first to sleep in that bed etc.

Just like approved used cars allow you to get into that BMW at a lot less than dealer sticker price buying the right resale timeshare allows you to get into a timeshare at a lot less than sticker price.  You make that choice, unfortunately, many are not aware that there is a secondary market and the high pressure sales / buy now for this price tactic mean they don't explore the alternatives.  That is like thinking there is only one place to buy your BMW.

*2) Inheriting a buy from developer is OK because you didn't pay for it...*
Well the alternate is you could inheret a bunch of cash (which would help pay the MF) and the resale purchased timeshare.  I prefer that alternative.

*3) Never give to children...*
Never say never, the point here is that if you gift a home while that home has running costs (like an MF) the home has a value that could be gained from selling it.  Many Timeshare have MF and no residule value so you are gifting a liability, not an asset and most all other liabilities are settled from your estate or extinguished at death.

As you point out 'their children love timesharing and can afford it too.'  If they could not afford it then they would need to continue to pay the MF even if they could not or get a black mark on their credit report etc.  

Many TS owners pay the MF and don't use as something else comes up for the $ to get to the destination or they got a 1Br and outgrew it.  They then don't take the time to evaluate how to recover those MF through rental etc.  

Gift the TS if the kids want it, can afford it, know how to use it.  It is a conversation you should be having about your estate (and the rest of your estate) with your kids, not a gift that they may not understand and may curse you for later.


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## PamMo (Oct 2, 2013)

csalter2 said:


> I have read posts where people say they would never give it to their children. However, are there people here who have inherited their timeshares and are grateful that they have it? Are there any who have inherited the timeshares and regret that they inherited it or assumed its ownership?  I would love to hear your experience.



That's a really interesting question, Carlito. Many TUGGERS have adult children, who've enjoyed timeshare vacations with their parents. Have those experiences made them _more _likely to own timeshares in the future? I know my kids and their families love the larger space and home-like amenities in our timeshares, but they have no desire to buy one now. Heck, why buy when you can use Mom and Dad's, right? They ARE learning the ropes, though, and are starting to use some of our weeks. As their families grow, they are liking timeshares more and more.

So...are there any second generation timeshare owners out there in TUG Land?


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## hillsk (Oct 2, 2013)

I didn't inherit a timeshare but in 2009 we gifted 2 of our 4 Marriott timeshares in Florida and Las Vegas to 2 of our married daughters and their husbands.  They had previously enjoyed many family trips with us, or on their own using one of our timeshares.  Rather than wait till we passed some day, we decided to transfer ownership early so we could see them enjoy their gift.  Our total cost to transfer the two deeds was $458.40 and it was done very easily via phone/email/fax.  Yes, the kids did take on the MFs but they also now have annual use of wonderful timeshare vacations with their families and don't have to cram 5 people into one hotel room.

Since the transfers, one daughter traded into Marriott's Canyon Villas, Newport Coast Villas, and Grande Vista (twice) so far.  The other traded into Newport Coast Villas and Grande Vista, plus twice at The Royal Sands in Cancun.

We still own our other 2 weeks and this year had wonderful trips to Marriott's Desert Springs Villas, Grand Chateau, Mountainside at Park City, and Timber Lodge.  We became owners in 1988 and our exchanges since then, and especially our Marriott Rewards Points, have made it possible to travel all over the world (Europe, Asia, Australia, Africa, South America in addition to North America) and stay in fabulous Marriott properties.  The kids have seen what we've done and know how we valued our ownership.  So far they are happy owners too but I must admit that I wish they didn't have to deal with rising MFs.  I too clearly remember the days of the low-$300 annual MFs and cringe myself at seeing how they have escalated.

I'm getting off track here.  I will only add that a third daughter hates to travel; and, therefore, gifting her one of our weeks is not an option.  We have something else in mind for her.  And daughter #4 adores travel but the only place she ever wants to go to is The Royal Haciendas and The Royal Sands in Mexico.  We bought her a week at The Royal Haciendas and are joining her there in two weeks.

All of the above were II exchanges.  One daughter bought into Destinations and also purchased 1000 trust points but she and her husband view it as a huge mistake.  It may be a wonderful alternative for multiple-week owners and owners of prime destinations like Hawaii.  But, for ownership of just one Florida week, our daughter's II exchanges is all they need.  They are trying to sell the 1000 trust points.


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## GregT (Oct 2, 2013)

hillsk said:


> They are trying to sell the 1000 trust points.



1,000 Trust Points are going to be tough to sell -- she may be better off simply renting them out annually?  Please introduce her to VPE.

Nice work on gifting your timeshares to your kids, that's a great gift!

Best,

Greg


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## hillsk (Oct 2, 2013)

Thanks for your comments.  Yes, I told her about VPE and she successfully rented her 2013 points quickly.


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## shoeie (Oct 2, 2013)

PamMo said:


> That's a really interesting question, Carlito. Many TUGGERS have adult children, who've enjoyed timeshare vacations with their parents. Have those experiences made them _more _likely to own timeshares in the future? I know my kids and their families love the larger space and home-like amenities in our timeshares, but they have no desire to buy one now. Heck, why buy when you can use Mom and Dad's, right? They ARE learning the ropes, though, and are starting to use some of our weeks. As their families grow, they are liking timeshares more and more.
> 
> So...are there any second generation timeshare owners out there in TUG Land?



I'm a second generation TS owner.  I didn't inherit them (Ma & Pa are still blissfully with us), but saw the benefits of TS'ing through their 20+ years of ownership.  As I had kids (and now have quite a large brood), TS'ing made sense for us because who wants to cram 6 people in a little hotel room, plus the cost of a serious 2-3 BR suite (to the extent a hotel even has one) is way more expensive than what I paid for my (resale) weeks + MF's.

To me, seeing my 'rents use it all those years, coupled with having a large family, made it a no brainer for me.  In fact, I'm in the hunt to try to add a 3rd week right now.


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## dmharris (Oct 12, 2013)

Carlito, thank you for starting this thread.  One reason we liked buying a timeshare was to leave it to our two daughters.  We've gifted weeks to them for college graduation (one a piece) and I can see us gifting them their honeymoons when we get to that time.  I have tried to educate them on how to work the system of trading so they're aware should I get hit by a truck unexpectedly.  

I'd love to hear more stories of inherited timeshares.  

Thanks,


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## FLDVCFamily (Oct 12, 2013)

PamMo said:


> That's a really interesting question, Carlito. Many TUGGERS have adult children, who've enjoyed timeshare vacations with their parents. Have those experiences made them _more _likely to own timeshares in the future? I know my kids and their families love the larger space and home-like amenities in our timeshares, but they have no desire to buy one now. Heck, why buy when you can use Mom and Dad's, right? They ARE learning the ropes, though, and are starting to use some of our weeks. As their families grow, they are liking timeshares more and more.
> 
> *So...are there any second generation timeshare owners out there in TUG Land?*



I guess I am...sort of. After I started buying cheap resales and trading into awesome destinations my dad bought a resale:rofl: Does that make me 2nd generation or does that make my dad 2nd generation??


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## jeff76543 (Oct 12, 2013)

I inherited 3 platinum weeks at Ocean Pointe from my parents, who bought them from the developer many years previously.  While at first I had some reservations about keeping the timeshare weeks, and there were not inconsiderable expenses in the lengthy probate proceedings to transfer the weeks in the Florida probate court, I am quite happy with having inherited these timeshare weeks.  The ability to enroll them in the DC program and exchange them for points gave me the flexibility to use them or rent them.  The fact that Ocean Pointe platinum weeks have a good DC point value is a big plus.  Thus far I have both used points and rented them through the excellent VPE website.  Even though the MF are considerable, renting the points provides more than enough money to cover these fees and still leave points or cash for family vacations.  In short, in my case the inheritance of the timeshare weeks has been a positive experience.


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## JimC (Oct 13, 2013)

The recipient of a timeshare interest can refuse the bequest, thus leaving the contract in the estate.  Best to talk with your legal and financial advisors, as well as family members, before deciding.  The poster who did it early and made thoughtful decisions based on the varied interests of the children did it well, in my opinion.


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## kwindham (Oct 13, 2013)

Im not second gen, but I'm pretty positive my kids will be.  I seriously doubt either would _belittle_ themselves by staying in a hotel room anymore, after all the amenities and room they have been accustomed to over the years at timeshares.  They are still a little bit young to learn the ins and outs of exchanging etc (15 &17 boys), but they already have the mindset that if there is no timeshare in a certain location, then we cant go there, :hysterical:!  Spoiled


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## csalter2 (Oct 13, 2013)

*Mine Want It*

I started this thread because I wondered about leaving my timeshares to my kids. They have expressed interest in my timeshares.  I have started taking grandchildren with us along with my adult kids and they absolutely love it.  I think they could afford the maintenance fees amongst them pretty easily. 

I will definitely let them make a decision on it since they will have to pay the maintenance fees. I just see how they enjoy it so much that since they would only have to pay maintenance fees, that it would be a great gift without a great financial burden.


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## pipet (Oct 14, 2013)

*If you a timeshare that isn't a noose around the neck... yes*

I haven't inherited either, but I had a positive impression of timeshares because my dad has one. He totally doesn't work the system like TUGgers, but my dad is a good planner and manages to still get value out of his.  

As for passing them on, I'd know how to make use of my Dad's if he decides to pass it on (although I'm hoping that's not something that comes for a long time), but his timeshare has some value to me, especially because it's in the same system as my timeshares. 

I think they can be great to pass on as long as you don't have one that rents for less than the MFs, and your heirs have an interest & willingness to learn the ropes.  

I'm sure my daughter will want mine; she's way too young yet but like kwindham's kids, she loves all the space & amenities we have when staying in a timeshare. As she gets older, I plan to get her involved in the process of getting the most value out of the timeshares we have so when the day comes, she'll know exactly what to do.


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## OutAndAbout (Oct 15, 2013)

csalter2 said:


> buying from the developer is not an issue.





csalter2 said:


> However, what about the person who plans to leave their Marriott weeks to their children.



If the owner willing or gifting the Marriott timeshare purchased from the developer and the recipients are family members then make sure the transfer is correctly set up so that the new owners still have the weeks recorded as developer purchases (and have the few perks that come along with that designation).


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## dmharris (Oct 24, 2013)

jeff76543 said:


> I inherited 3 platinum weeks at Ocean Pointe from my parents, who bought them from the developer many years previously.  While at first I had some reservations about keeping the timeshare weeks, and there were not inconsiderable expenses in the lengthy probate proceedings to transfer the weeks in the Florida probate court, I am quite happy with having inherited these timeshare weeks.  The ability to enroll them in the DC program and exchange them for points gave me the flexibility to use them or rent them.  The fact that Ocean Pointe platinum weeks have a good DC point value is a big plus.  Thus far I have both used points and rented them through the excellent VPE website.  Even though the MF are considerable, renting the points provides more than enough money to cover these fees and still leave points or cash for family vacations.  In short, in my case the inheritance of the timeshare weeks has been a positive experience.



Thanks for this insight into how it's worked in your case.  I look at it like the gift that keeps on giving, year after year.  If one was bequeathed to me, I'd be thrilled!


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## jeff76543 (Oct 24, 2013)

dmharris said:


> One reason we liked buying a timeshare was to leave it to our two daughters.  We've gifted weeks to them for college graduation (one a piece) and I can see us gifting them their honeymoons when we get to that time.  I have tried to educate them on how to work the system of trading so they're aware should I get hit by a truck unexpectedly.



Hopefully you will have many happy years to educate your daughters and enjoy the time spent with them -- and I wish you that no trucks get in the way of those many years.

I definitely agree with you that it's a good idea to educate your daughters on how to work the system.  The value of the timeshares is so much greater when you realize all of your options and are able to maximize your benefits.

One note of caution.  Inheriting a timeshare through probate court is expensive and time consuming -- at least that was my personal experience. When you feel that the time is right, you should probably add their names to the ownership or, as some have suggested, set up a trust, so that there is no need for probate court and all that this entails.


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## amycurl (Oct 24, 2013)

My mother put my name on the deed when I was in college; we now usually split the MF, and share usage (between exchanges, ACs, and getaways, it's not hard for us each to get what we want.) We have gotten heaps of value out of the arrangement.

My daughter is also timeshare-spoiled. She's also very Marriott brand-aware for a seven year old.  I'm worried that she'll now be unhappy with the 2 BR at Grande Ocean, having gotten basically her own bedroom wing in the 3BR at Marbella over Easter! 

(True story: the first time my daughter put two words together was upon entering a particularly nice Courtyard by Marriott room in suburban DC--"big room!"--she was only about 14 months old.)


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## NJN2Mom (Oct 25, 2013)

We inherited Marriott time shares in 2005 - 3BR Grand Vista & 1BR Aruba. We bought Manor Club resale, and sold Aruba back to Marriott.  We did not think we would use the 1BR and only wanted 2 weeks of TS vacation.  We have had many memorable vacations and would not hesitate to leave the weeks to our boys.  One thing we make sure of was to place the TS in a family trust to avoid having the kids go through the hassles of the estate.


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