Can I transfer my Marriott TS to a nephew?

[heathpack]

We increasingly don’t want to travel without the dogs, so are planning on divesting of a few timeshares.

I have two nephews who might be interested in a Marriott timeshare I own. I think you can transfer Marriott timeshares to close relatives without going through ROFR. I assume a nephew is not close enough- it needs to be transferred to a child or a parent?

Can anyone advise? I’m just wanting to have my ducks in a row moving forward.

 

[Dean]

We increasingly don’t want to travel without the dogs, so are planning on divesting of a few timeshares.

I have two nephews who might be interested in a Marriott timeshare I own. I think you can transfer Marriott timeshares to close relatives without going through ROFR. I assume a nephew is not close enough- it needs to be transferred to a child or a parent?

Can anyone advise? I’m just wanting to have my ducks in a row moving forward.

For DVC it's to a relative and gratuitous to bypass ROFR but I think to Marriott it's only a parent or child that you can do so without risking ROFR. I'd double check but this is what I've seen reported. You could add them to the deed and make them the primary and transfer any II account to them. You could even remove all but one of the original parties.

 

[bogey21]

You could add them to the deed and make them the primary and transfer any II account to them. You could even remove all but one of the original parties.

Just guessing but it sounds like this would work if you added one or both of them this year and took yourselves off next year or two years from now. Might be worth a try...

George

 

[dsmrp]

Perhaps check the T&C or other Marriott documents from when you bought that unit. FWIW, we bought direct from Vistana, Orlando which doesn't have ROFR. However I remember reading in our contracts that we could give family members our interest in the unit and VSN privileges would transfer to them without charge. The relationships were specified to brothers, sisters, nephews, nieces and others.

 

[vol_90]

Just guessing but it sounds like this would work if you added one or both of them this year and took yourselves off next year or two years from now. Might be worth a try...

George

I think this option would cost $500 per week. The 1st $250 to add additional names to the deed then an additional $250 to remove yourself from the deed. I don't have enough information to comment on gifting but believe it can be done which would still cost $250 per week.

 

[Dean]

I think this option would cost $500 per week. The 1st $250 to add additional names to the deed then an additional $250 to remove yourself from the deed. I don't have enough information to comment on gifting but believe it can be done which would still cost $250 per week.

Depending on the location they might be able to do it themselves for cheaper though likely not for SC. Depending on the situation they might not need to remove names later and if they had concerns about the inherent risks in the situation, I wouldn't do it that way to start with. I'd certainly ask MVC about the options to do a gratuitous transfer. There really are 2 potential issues, allowing the transfer if ROFR applies (it does for Barony and all but the oldest of MVC resorts) and any enrollment or potential future enrollment options remaining intact (if applicable). And they could just come to an agreement for the nephews to pay the fees and use the weeks. For exchanges that would add potential exchange fees, membership fees and guest certificates.

 

[ahdah]

Depending on the location they might be able to do it themselves for cheaper though likely not for SC. Depending on the situation they might not need to remove names later and if they had concerns about the inherent risks in the situation, I wouldn't do it that way to start with. I'd certainly ask MVC about the options to do a gratuitous transfer. There really are 2 potential issues, allowing the transfer if ROFR applies (it does for Barony and all but the oldest of MVC resorts) and any enrollment or potential future enrollment options remaining intact (if applicable). And they could just come to an agreement for the nephews to pay the fees and use the weeks. For exchanges that would add potential exchange fees, membership fees and guest certificates.

You are correct, if the timeshare is in SC, it requires an attorney from SC.

 

[Dean]

You are correct, if the timeshare is in SC, it requires an attorney from SC.

It only requires an attorney to file, not for the entire process. LT transfers can do SC which will keep the price manageable for there. I do have a lawyer contact if one has several that can do it as cheaply as LTtransfers if there is sufficient volume.

 

[Ralph Sir Edward]

Add the nephew to the ownership deed. Wait a year, and take your names off. That's how I got mine from my aunt and uncle.

 

[gdstuart]

My cousin has Ko Olina Beach Club points that she wants us to take over since she and hubby are 80+. Anyone have experience with this process for Hawaii properties? We have a very trusting relationship (I got them into timeshares 30 years ago and have helped them all along the way), so adding us to the deed would be fine.

 

[Dean]

My cousin has Ko Olina Beach Club points that she wants us to take over since she and hubby are 80+. Anyone have experience with this process for Hawaii properties? We have a very trusting relationship (I got them into timeshares 30 years ago and have helped them all along the way), so adding us to the deed would be fine.

LT transfers can do it, that'd be my recommendation.

 

[TheTimeTraveler]

LT transfers can do it, that'd be my recommendation.

www.LTTransfers.com





.

 

[gdstuart]

Dean,

I used LT for disposing of my Monarch week. They were great. So you're implying that it's just a deed change, and no ROFR or involvement with MVCI is required? We first looked into deeding the points over to me but the threads I see here imply that adding me to the deed is more straightforward.

Thanks, Geoff

 

[dioxide45]

Dean,

I used LT for disposing of my Monarch week. They were great. So you're implying that it's just a deed change, and no ROFR or involvement with MVCI is required? We first looked into deeding the points over to me but the threads I see here imply that adding me to the deed is more straightforward.

Thanks, Geoff

A transfer between cousins may necessitate the need for ROFR and if the week is enrolled or elligble for enrollment, it will lose that points option.

 

[gdstuart]

A transfer between cousins may necessitate the need for ROFR and if the week is enrolled or elligble for enrollment, it will lose that points option.

Even if we're just adding my name to the deed? We're not transferring.

 

[dioxide45]

Even if we're just adding my name to the deed? We're not transferring.

Then you should be fine.

 

[Dean]

Dean,

I used LT for disposing of my Monarch week. They were great. So you're implying that it's just a deed change, and no ROFR or involvement with MVCI is required? We first looked into deeding the points over to me but the threads I see here imply that adding me to the deed is more straightforward.

Thanks, Geoff

Agreed, if adding a name and at least one of the original owners stays on, my understanding is you'll be fine and not require ROFR. This has often been discuss but I think it's a bit of an unknown how long you have to wait for MVC to not balk if removing the original names later. We usually discuss a year but we really don't know. If you were transferring completely, ROFR is involved even if I'd automatically waived such as from Parent to Child. I don't specifically recall any examples of people who have actually done this and then removed the original names. Maybe there are those that I don't recall or haven't seen posted and if so, maybe they will chime in. I probably wouldn't ask MVC this as it might trigger an answer you don't want and further oversight later. I would agree this method is much safer and easier to preserve options but it does have it's own set of risks, esp with financial issues, divorce, etc.

 

[vacationtime1]

If you and your nephews have a common living ancestor, you could transfer to that ancestor who could later transfer it to your nephews.

If that is possible and if you choose to do that, I would wait a year between the two transfers as others have suggested.

 

[dioxide45]

I probably wouldn't ask MVC this as it might trigger an answer you don't want and further oversight later.

Probably also a reason you don't see people mention this here that much either. "Loopholes" often get closed once they become well known. I recall issue shortly after they rolled out DC where people were able to enroll eligible weeks. Once it got mentioned here and exploited some more. It was closed. Now those in the know don't mention these things.

Recently purchased Ebay week added to DC program for no additional charge

I didn’t want to advertise this until I was able to confirm that it went through, but Marriott just added a week that I recently purchased through Ebay to the DC program. The kicker is they didn’t charge me extra to add it on. The story goes like this. I enrolled my previous weeks (all...

tugbbs.com

 

[DRH90277]

Question - Our Marriott weeks and points are in our trust. By the way, we are in our 70's. I suspect the kids will inherit the trust and won't need to do anything special. I do need to check to see how long a trust can remain intact. Does anyone have any insight, suggestions, or special considerations?

We will be updating our wills and estate plan shortly with an attorney.

Thank you

 

[dioxide45]

Question - Our Marriott weeks and points are in our trust. By the way, we are in our 70's. I suspect the kids will inherit the trust and won't need to do anything special. I do need to check to see how long a trust can remain intact. Does anyone have any insight, suggestions, or special considerations?

We will be updating our wills and estate plan shortly with an attorney.

Thank you

For many, trust is mainly there so after death the trustee can more easily transfer assets and avoid probate. The kids should inherit assets through a will and the assets transferred to them from the trust after death. Though individual circumstances may vary.

 

[Dean]

Question - Our Marriott weeks and points are in our trust. By the way, we are in our 70's. I suspect the kids will inherit the trust and won't need to do anything special. I do need to check to see how long a trust can remain intact. Does anyone have any insight, suggestions, or special considerations?

We will be updating our wills and estate plan shortly with an attorney.

Thank you

We are on the other end. We have given quite a bit of consideration to what happens to our timeshare after we're gone. We've mainly considered leaving them as it to go through probate, creating a trust or changing the deeds to add their names. We're strongly leaning to the last one but trying to time it because I want to leave sufficient assets to cover the yearly fees making them a blessing and not a curse. We already know that the kids want the timeshare but for many situation that may not be the case or they may not be able to afford them. In a trust they're stuck as long as the trust has assets, same if we put their names on the deeds. Not necessarily so if they are simply willed but more hassle if they want to keep them and they might drag out Probate as well as require probate in non residential states.

 

[taxare]

As noted, there have been previous threads on this but now that I am officially an "old fart" I have a lot more interest. I have been hesitant to call MVCI as I'm not sure they really know the answers and as noted above, I don't want my file noted with misinformation. My situation is a little different than others, I have two enrolled weeks, small amount of developer purchased DP and resale DP. The enrolled weeks and developer DP are joint with my late wife and I have been too lazy to remove her from the deeds without a future plan. I am also grandfathered Chairman's Club which I don't want my daughter to lose if possible. Based on the above perhaps the best plan to kick the can down the road a little further is change the titles by adding my daughter to all of them, removing my late wife and my staying on for a while longer. I also agree with Dean that I want this to be something they want to use and not just a burden. After spending all of these years on TUG (thank you) it's going to take a long time for her to "learn the ropes".