Recorded Trust Documents

[dioxide45]

Dioxide, can you teach me how you did the search and I'll keep searching to see if there are new additions to the Trust in the coming months? It would be instructive for us to try to maintain a spreadsheet of where the inventory is.

Greg

This was quite easy. Go to the Orange County comptrollers website here, then enter MVC in to the Both Names field. The search results return all of the documents that I linked to. There are a few other documents that came up in the search that were unrelated to MVC.

 

[billymach4]

Dioxide,

Just Marvelous! Brilliant!

Totally Speechless!

I just wish we could have stumbled across this in May. This would have added so much to the excitement.

 

[taffy19]

Interesting!

I've been told that the OF units at the MOC are sold out. There were none in that initial batch for the Trust for that reason. Perhaps you know otherwise. I was also told that there are no GV weeks in the Trust because they also were sold out. So, at least, initially, this first batch must all be OV.

On March 25 this year, there were:

13 fixed 3 BR units left at the Napili tower
71 fixed 2 BR units left at the Napili tower
06 fixed 3 BR units left at the Lahaina tower
63 fixed 2 BR units left at the Lahaina tower

I still have the inventory sheets they gave me from every presentation so I can look it up. They were not in the prime season. I also had it for the floating units but may have thrown that sheet out. I sent the information by email to a friend, so will see if I still have that email and I will send it to you, if you want it. It was from the same week.

They hardly sold any fixed ocean front units at the two towers from one year to the next as I kept track of it so I don't believe it. I would like to know the truth!

Several of my friends toured the resort and fixed units were no longer discussed. They have other plans with them, I believe and I would like to know what because it may affect our value. I would only enroll if it would protect our value because the next person may be able to enroll but the Resale Department (independent broker) told me that the answer is NO. Their documents are not even consistent so who do you believe?

 

[dioxide45]

Dioxide,

Just Marvelous! Brilliant!

Totally Speechless!

I just wish we could have stumbled across this in May. This would have added so much to the excitement.

Had I found these in April or May, it would have answered one very big question in the speculation thread.

I work in an industry that gives me the knowledge of recorded documents. So once I looked at the exchange disclosure document and found the name of the trust, it didn't take me long to find the documents in a search.

 

[hotcoffee]

On March 25 this year, there were:

13 fixed 3 BR units left at the Napili tower
71 fixed 2 BR units left at the Napili tower
06 fixed 3 BR units left at the Lahaina tower
63 fixed 2 BR units left at the Lahaina tower

I still have the inventory sheets they gave me from every presentation so I can look it up. They were not in the prime season. I also had it for the floating units but may have thrown that sheet out. I sent the information by email to a friend, so will see if I still have that email and I will send it to you, if you want it. It was from the same week.

They hardly sold any fixed ocean front units at the two towers from one year to the next as I kept track of it so I don't believe it. I would like to know the truth!

Several of my friends toured the resort and fixed units were no longer discussed. They have other plans with them, I believe and I would like to know what because it may affect our value. I would only enroll if it would protect our value because the next person may be able to enroll but the Resale Department (independent broker) told me that the answer is NO. Their documents are not even consistent so who do you believe?

Perhaps they simply did not put fixed weeks into the Trust because they do not fit in well with exchanges. Maybe they are considered what the documentation refers to as "restricted use" weeks. Based on the disclosure document, Marriott can use restricted use weeks for promotional purposes (or any other use they desire).

I assume you own a fixed week?

 

[taffy19]

Perhaps they simply did not put fixed weeks into the Trust because they do not fit in well with exchanges. Maybe they are considered what the documentation refers to as "restricted use" weeks. Based on the disclosure document, Marriott can use restricted use weeks for promotional purposes (or any other use they desire).

I assume you own a fixed week?

Yes, we own a fixed week/unit but we got the invitation in the mail and the enrollment package is on the way so we are not excluded. I have to read again about the restricted use. There are some restrictions that I have noticed already but was going to double check one more time. We have time to decide and figure out what is best but my husband prefers to leave things alone so may end up doing that.

By the way, I found the email with the PDF file of the complete inventory for all units at the MOC for March 22. This includes fixed and floating weeks at the main building as well as the towers.

 

[rudy]

Thanks!

You can access the recorded trust documents on the Orange County FL comptroller website. Includes actual unit information of what was conveyed to the trust.

http://or.occompt.com/recorder/web/

I have done the work for you and provided the document numbers. Just search by document number.

Trust Agreement: 20100149464 (You can also search just for this document, then the related resort notices are listed on the left hand side)

Notices adding points for each trust resort:
20100267160 - Oceana Palms
20100267159 - Canyon Villas
20100267158 - Ocean Watch
20100267157 - Maui Ocean Club
20100267156 - Willow Ridge Lodge
20100267155 - Newport Coast Villas
20100267154 - Timber Lodge
20100267153 - Ko'Olina
20100267152 - Kalanipu'u
20100267151 - Crystal Shores
20100267092 - Maui Ocean Club II
20100267091 - Grande Vista

Thanks for all your hard work in tracking down these documents and providing the link. I have downloaded each document and will review as soon as possible.

Best Regards,

Rudy

 

[kk0]

You can access the recorded trust documents on the Orange County FL comptroller website. Includes actual unit information of what was conveyed to the trust.

http://or.occompt.com/recorder/web/

I have done the work for you and provided the document numbers. Just search by document number.

Trust Agreement: 20100149464 (You can also search just for this document, then the related resort notices are listed on the left hand side)

Notices adding points for each trust resort:
20100267160 - Oceana Palms
20100267159 - Canyon Villas
20100267158 - Ocean Watch
20100267157 - Maui Ocean Club
20100267156 - Willow Ridge Lodge
20100267155 - Newport Coast Villas
20100267154 - Timber Lodge
20100267153 - Ko'Olina
20100267152 - Kalanipu'u
20100267151 - Crystal Shores
20100267092 - Maui Ocean Club II
20100267091 - Grande Vista

Excellent job Dioxide.
BTW how many points does the trust have in Grande Ocean,Surf Watch and Barony ?
Is it better to buy a resale at Oceanwatch (Myrtle Beach) owned by the trust versus the Hilton head trio of Barony, Grande Ocean, Surf Watch (not trust owned)?

 

[dioxide45]

Excellent job Dioxide.
BTW how many points does the trust have in Grande Ocean,Surf Watch and Barony ?
Is it better to buy a resale at Oceanwatch (Myrtle Beach) owned by the trust versus the Hilton head trio of Barony, Grande Ocean, Surf Watch (not trust owned)?

There are no HHI points in the trust.

 

[kk0]

There are no HHI points in the trust.

In that case should one rather buy a HHI resale unit rather than a Oceanwatch which is trust owned ?
Interestingly, I was at the wine and cheese welcome at the Grande Ocean in front of the North Pool. A saleswoman came up to us and tried to tell us he the virtues of the points system. I politely declined but she was quite persistent. One owner (wealthy guy in his sixties) I spoke with signed up for the points system. It seems to me that he has a lot of cash to spare and he thought that the points gave him a good deal ! His take seems to be that we need to give marriott more leeway because they have done such awonderful job. I don't disagree with that statement but by the same token I am not willing to pay $ 30 K for a unit whose resale value is $18 K. Besides I think I am paying top dollar in maintenance fees every year.

 

[dioxide45]

In that case should one rather buy a HHI resale unit rather than a Oceanwatch which is trust owned ?
Interestingly, I was at the wine and cheese welcome at the Grande Ocean in front of the North Pool. A saleswoman came up to us and tried to tell us he the virtues of the points system. I politely declined but she was quite persistent. One owner (wealthy guy in his sixties) I spoke with signed up for the points system. It seems to me that he has a lot of cash to spare and he thought that the points gave him a good deal ! His take seems to be that we need to give marriott more leeway because they have done such awonderful job. I don't disagree with that statement but by the same token I am not willing to pay $ 30 K for a unit whose resale value is $18 K. Besides I think I am paying top dollar in maintenance fees every year.

I don't think it really matters if you own at a trust resort vs. a non trust resort. I don't see any pluses or minuses to either. Though the only issue I have with HHI locations is that none of them have lock offs. If you are buying to use, then buy where you will travel. If you are buying to trade, I would highly recommend a lockoff capable resort.

 

[kk0]

My fear is that Marriott can take total control of the board at resorts where the trust has a significant amount of ownership. This afternoon I was at the owners meeting at the Grande Ocean. General manager Robert Spears was very honest and forthcoming. He (as expected) advocated the points program. According to him the trust had no points at Grande Ocean except for three bronze weeks.
He stated that MGO ownrers do not have to fear the trust taking a significant ownership in the near term.
My question to him was - if the the trust owns a lot of bronze units that not many people are willing to rent - - the trust will be in the hole for a lot of maintenance fees -- where is that money going to come from ? special assesments on the participants of points system? Can the trust go bankrupt ?

 

[dioxide45]

My fear is that Marriott can take total control of the board at resorts where the trust has a significant amount of ownership. This afternoon I was at the owners meeting at the Grande Ocean. General manager Robert Spears was very honest and forthcoming. He (as expected) advocated the points program. According to him the trust had no points at Grande Ocean except for three bronze weeks.
He stated that MGO ownrers do not have to fear the trust taking a significant ownership in the near term.
My question to him was - if the the trust owns a lot of bronze units that not many people are willing to rent - - the trust will be in the hole for a lot of maintenance fees -- where is that money going to come from ? special assesments on the participants of points system? Can the trust go bankrupt ?

Marriott is obviously subsidizing the trust MF with a cash reserve. There is no other way they could charge only $0.40 per point. The trust has millions of points but only a few hundred thousand are likely sold. So I am sure Marriott put aside a large reserve to fund the trust MF for however long they anticipate it would take to sell the bulk of the points.

 

[dioxide45]

It looks like Marriott is seeding the trust some more, though not allocating more points yet. There are a lot of Orlando units that have been deeded to the trust. And not just those that were in the original 11 resorts. Sabal Palms, Harbour Lake, and Cypress Harbour have had blocks of units deeded to the land trust.

 

[hotcoffee]

It looks like Marriott is seeding the trust some more, though not allocating more points yet. There are a lot of Orlando units that have been deeded to the trust. And not just those that were in the original 11 resorts. Sabal Palms, Harbour Lake, and Cypress Harbour have had blocks of units deeded to the land trust.

That would suggest that sales must be better than we think. I cannot think of why they would go through the effort of putting more into the Trust unless they expected that they would soon need some more points in it.

 

[dioxide45]

That would suggest that sales must be better than we think. I cannot think of why they would go through the effort of putting more into the Trust unless they expected that they would soon need some more points in it.

They appear to be reacquired weeks. So perhaps they are just conveying everything they acquire. They haven't filed a notice to allot more points to the trust. Only deeding more weeks in to it.

 

[sparty]

Though the only issue I have with HHI locations is that none of them have lock offs. If you are buying to use, then buy where you will travel. If you are buying to trade, I would highly recommend a lockoff capable resort.

Using II I don't think it's that big of a deal, I never deposited Barony unless I got an AC for my Oceanside Platinum. So you get a good trade with Barony OS Platinum, you get an AC, and you avoid the lockoff fees.

With MVCD, the value is recognized in terms of the number of points.

In renting, the value is recognized in terms of the rental amount, consistently easy to rent at a good price.

I also own a non-lock off Special week at Cypress because I don't put a premium value on lockoffs..

I do agree the most important consideration in value is the level of desire to go to your home resort. And I know a lot of people differ from me and value lockoffs very high..

 

[SueDonJ]

It looks like Marriott is seeding the trust some more, though not allocating more points yet. There are a lot of Orlando units that have been deeded to the trust. And not just those that were in the original 11 resorts. Sabal Palms, Harbour Lake, and Cypress Harbour have had blocks of units deeded to the land trust.

Thanks for keeping up with this, dioxide, and good on you for adding the latest info to the established thread. Maybe this thread will be the one place that we'll be able to find all the Trust inventory as we're trying to figure out how and why Marriott is able to feed the Exchange Company.

Nice work!

 

[DanCali]

I cannot think of why they would go through the effort of putting more into the Trust unless they expected that they would soon need some more points in it.

Because it can help them make exchanges with owners.

 

[hotcoffee]

Because it can help them make exchanges with owners.

It is possible that they have found that people who buy only points are tending to reserve in Florida more often that other places. So, put more Florida in the Trust. One thing for sure, I doubt that many of them are reserving Hawaii, given the amount of points it takes to get anything there..

 

[dioxide45]

No Longer 11 Trust Resorts

It looks like a lot of points were added to the MVC Trust on 10/8/2010. Over 20MM new points. Some resorts are listed several times because it appears they filed notice on developer and reaquired weeks seperatly.

You can find all of there at the Orange County Controllers website.

20100587033- Barony Beach Club
20100587034- Crystal Shores
20100587035- Cypress Harbour
20100587036- Canyon Villas
20100587037- Desert Springs Villas I
20100587038- Desert Springs Villas II
20100587039- Doral
20100587040- Fairway Villas
20100587041- Grande Chateau
20100587042- Grande Ocean
20100589054- Grande Vista
20100589055- Harbour Club
20100589056- Heritage Club
20100589057- Harbour Lake
20100589058- Ko'Olina Beach Club
20100589059- Manor Club
20100589060- Manor Club Sequel
20100589061- Maui Ocean Club
20100589062- Maui Ocean Club Lahaina and Napili Villas
20100589063- Mountain Side
20100589421- Newport Coast Villas
20100589422- Ocean Pointe
20100589423- Royal Palms
20100589424- Sabal Palms
20100589425- Shadow Ridge
20100589426- Summit Watch
20100589427- Sunset Pointe
20100589428- Timber Lodge
20100589429- Canyon Villas
20100589430- Crystal Shores
20100589945- Shadow Ridge II
20100589946- Timber Lodge
20100590223- Fairway Villas
20100590224- Grande Chateau
20100590225- Harbour Lake
20100590226- Ko'Olina Beach Club
20100590227- Lakeshore Reserve
20100590228- Maui Ocean Club Lahaina and Napili Villas
20100590229- Newport Coast Villas
20100590230- Ocean Pointe
20100590231- Oceana Palms
20100590232- Shadow Ridge
20100611050- Timber Lodge (Rerecording of 20100589946)

If someone else wants to go in and break out all of the points, help yourself.

 

[GregT]

[Deleted -- two posts following]

 

[GregT]

Very sorry about the poor formatting.............


Original Trust

6,712,500.........Ko Olina
6,152,250.........Timberlodge
5,292,750.........Oceana Palms
5,005,250.........Crystal Shores
4,314,750.........Newport Coast
3,605,570.........MOC-Sequel
3,529,500.........Kalanipu'u
2,848,500.........Willow Ridge
2,303,250.........Canyon Villas
1,017,750.........MOC
992,000............Ocean Watch
572,000............Grand Vista

42,346,070........Original Trust

November 2010 Expansion

69,750.............Barony Beach Club
10,500.............Crystal Shores
90,750.............Cypress Harbour
40,250.............Canyon Villas
16,000.............DSV I
333,750............DSV II
13,000..............Doral
82,500..............Fairway Villas
340,750.............Grand Chateau
9,000................Grande Ocean
202,750.............Grand Vista
17,250............. Harbour Club
7,500.................Heritage Club
65,500...............Harbour Lake
201,500............. Ko Olina
30,000...............Manor Club
32,000...............Manor Club Sequel
1,393,000...........MOC
7,500.................MOC - Sequel (Lahaina and Napili)
68,500...............Mountain Side
743,750 .............Newport Coast Villas
68,500................Ocean Point
35,000................Royal Palms
39,000................Sabal Palms
56,000................Shadow Ridge
45,000................Summit Watch
44,250................Sunset Point
222,750..............Timber Lodge
762,000..............Canyon Villas
3,005,500............Crystal Shores
1,388,000............Shadow Ridge II
27,500................Fairway Villas
1,037,500............Grande Chateau
172,500..............Harbour Lake
2,294,750............Ko Olina
153,750............. Lakeshore Reserve
739,000............. MOC - Sequel (Lahaina and Napili)
3,584,500............Newport Coast Villas
2,500..................Ocean Point
413,250..............Oceana Palms
31,750...............Shadow Ridge
4,647,750...........Timber Lodge

22,546,250............November Expansion

64,892,320.............Total Trust

 

[GregT]

All, sorry for 3 posts in a row (and the bad formatting)

Total points (largest to smallest)

Timberlodge...............11,022,750
Ko Olina......................9,208,750
Newport Coast Villas.....8,643,000
Crystal Shores.............8,021,250
Oceana Palms..............5,706,000
MOC-Sequel................4,352,070
Kalanipu'u...................3,529,500 (Kauai Lagoons)
Canyon Villas..............3,105,500
Willow Ridge................2,848,500
MOC..........................2,410,750
Shadow Ridge..............1,475,750
Grande Chateau...........1,378,250
Ocean Watch................992,000
Grand Vista...................774,750
DSV II..........................333,750
Harbour Lake.................238,000
Lakeshore Reserve..........153,750
Fairway Villas.................110,000
Cypress Harbour...............90,750
Ocean Point....................71,000
Barony Beach Club............69,750
Mountain Side..................68,500
Summit Watch.................45,000
Sunset Point...................44,250
Sabal Palms.....................39,000
Royal Palms.....................35,000
Manor Club Sequel............32,000
Manor Club.....................30,000
Harbour Club...................17,250
DSV I............................16,000
Doral.............................13,000
Grande Ocean.................. 9,000
Heritage Club.................. 7,500


Edited to add: identify Kauai Lagoons

 

[LAX Mom]

Which resort is Kalanipu'u?
I'm not familiar with that location.