Can you sell a portion of your DC Purchase?

[Seaport104]

Let's say you bought 4000 points from Marriott that is recorded on the same deed, are you able to sell a portion of the points, i.e. 2000 of the 4000 on the deed or do you have to sell the same block of points you purchased?

 

[Fasttr]

Good question.....I would think that since each Beneficial Interest (BI) (representing 250 points) is listed separately on the deed, that you could sell (deed away) just certain BI's and get your deed re-recorded for just the remaining BI's that you would retain. That said, I am far from an attorney, so this is just my layman hunch talking.

 

[davidvel]

Do you get a deed?

 

[Fasttr]

Do you get a deed?

Yes. One is attached as an example in THIS post.

 

[davidvel]

Yes. One is attached as an example in THIS post.

Odd. I've never seen a deed for a beneficial interest in a trust. There no conveyance of property itself. This seems to be some type of bankruptcy conveyance. Does anyone who's purchased from Marriot have an example of such a deed?

 

[Fasttr]

Odd. I've never seen a deed for a beneficial interest in a trust. There no conveyance of property itself. This seems to be some type of bankruptcy conveyance. Does anyone who's purchased from Marriot have an example of such a deed?

I do. It is identical except the Grantor is MORI as opposed to the Bankruptcy Trustee.

 

[Seaport104]

Odd. I've never seen a deed for a beneficial interest in a trust. There no conveyance of property itself. This seems to be some type of bankruptcy conveyance. Does anyone who's purchased from Marriot have an example of such a deed?

I don't have an electronic copy readily available but it's the same one as the post where it references the numbers of the beneficial interests purchased in the trust.

 

[JIMinNC]

Odd. I've never seen a deed for a beneficial interest in a trust. There no conveyance of property itself. This seems to be some type of bankruptcy conveyance. Does anyone who's purchased from Marriot have an example of such a deed?

Same here as the other folks. All Marriott Trust beneficial interests are deeded in this manner. Recorded in Orange County, Florida.

 

[Seaport104]

I just called Owner Services and they told me all beneficial interest recorded in one deed must be sold that way

In other words, if I buy 5000 points in one deed, if I sell them I have to sell all 5000 and not a portion even though the #'s of each beneficial interest is listed separately.

Makes no sense to me because if I had 2 weeks in one deed, you can still sell only one or split the weeks to sell to 2 different people.

Has anyone here sold just a part of their DC points on the deed?

 

[bazzap]

I just called Owner Services and they told me all beneficial interest recorded in one deed must be sold that way

In other words, if I buy 5000 points in one deed, if I sell them I have to sell all 5000 and not a portion even though the #'s of each beneficial interest is listed separately.

Makes no sense to me because if I had 2 weeks in one deed, you can still sell only one or split the weeks to sell to 2 different people.

Has anyone here sold just a part of their DC points on the deed?

That does seem rather like an unreasonable constraint designed to make it as difficult as possible to resell Points you have purchased.
I am sure pleased I don't have this problem myself.
Weeks may not be easy to sell (at anything other than giveaway prices anyway), but at least it is simple to do.

 

[SueDonJ]

I just called Owner Services and they told me all beneficial interest recorded in one deed must be sold that way

In other words, if I buy 5000 points in one deed, if I sell them I have to sell all 5000 and not a portion even though the #'s of each beneficial interest is listed separately.

Makes no sense to me because if I had 2 weeks in one deed, you can still sell only one or split the weeks to sell to 2 different people.

Has anyone here sold just a part of their DC points on the deed?

That makes sense to me only because I know that's how Disney Points work - you can't sell only a portion of the DVC Points that are sold as a single contract. Those owners always suggest that you should break up large amounts into separate contracts for this reason.

I didn't realize you could put more than one Marriott Week on a single deed - our three are all separate deeds including the two that were purchased on the same day.

 

[Seaport104]

That makes sense to me only because I know that's how Disney Points work - you can't sell only a portion of the DVC Points that are sold as a single contract. Those owners always suggest that you should break up large amounts into separate contracts for this reason.

I didn't realize you could put more than one Marriott Week on a single deed - our three are all separate deeds including the two that were purchased on the same day.

Interesting, I didn't know that about Disney. Is Disney similar to Marriott in a sense that they list out each beneficial interest or block of point separately?

What I find weird about the Marriott answer is the deed clearly lists each interest and when you log onto MVCI, the BI # is listed separately. Seems silly that they can't move specific BI to another owner. It's not like HGVC where the deed is a % that is worth x amount of points.

I purchase a week from an owner with 2 weeks on a deed before so I know with weeks it can be done.

 

[alexadeparis]

I don't think that its not able to be done legally, it's just that Marriott's own rules don't allow it. If you were to do it, they would have to find a way to comply, probably. Someone should clarify where in their DC points rules that is listed. I think you will find it is their own internal rule.

 

[SueDonJ]

Interesting, I didn't know that about Disney. Is Disney similar to Marriott in a sense that they list out each beneficial interest or block of point separately?

What I find weird about the Marriott answer is the deed clearly lists each interest and when you log onto MVCI, the BI # is listed separately. Seems silly that they can't move specific BI to another owner. It's not like HGVC where the deed is a % that is worth x amount of points.

I purchase a week from an owner with 2 weeks on a deed before so I know with weeks it can be done.

It's a good question for the DVC forum - hopefully a DVC Member will come along and explain things to us.

 

[Seaport104]

I just got off the phone with Resales Department and they confirmed you can sell a portion of the BI's recorded on a single deed.

I asked her to reconfirm with someone else and she did. I explained that another person told me that it cannot be done if recorded on the same deed.

The sales department whom I signed the contract with also put it in the email.

I'm hoping maybe a Tugger has sold a portion of their BI's recorded on a single deed before?

 

[taterhed]

So, let me get this straight: the Timeshare company representative told you something inaccurate (on first call at least) that favored the developer and made it harder for you to sell your timeshare.

Bet that's never happened before! :hysterical:

 

[alexadeparis]

I just got off the phone with Resales Department and they confirmed you can sell a portion of the BI's recorded on a single deed.

I asked her to reconfirm with someone else and she did. I explained that another person told me that it cannot be done if recorded on the same deed.

The sales department whom I signed the contract with also put it in the email.

I'm hoping maybe a Tugger has sold a portion of their BI's recorded on a single deed before?

So let's say you have multiple BI's. You sell only a few.
For a proper chain of title, to avoid confusion later, you may want to think about a redeed as follows:
deed1) from Seaport104 to new buyer BI 1, 2, 3, 4, etc.
Deed2) from Seaport104 to Seaport104 BI 5,6,7,8 etc.

But if Marriott is going to give you a huge hassle, then you could still leave the old deed alone but then someone would really have to be on their game to follow the chain of title in future

 

[dioxide45]

The best group to confirm this would be Owner Modifications. I wouldn't count on getting the right answer from a VOA, customer service or even a sales rep.

I see no reason why you can't sell only a few BIs from a single deed. I too would suggest doing the deeds as alexadeparis suggested. This might require you to have to pay two transfer fees to Marriott, but it keeps the chain of title clearer.

 

[Seaport104]

The best group to confirm this would be Owner Modifications. I wouldn't count on getting the right answer from a VOA, customer service or even a sales rep.

I see no reason why you can't sell only a few BIs from a single deed. I too would suggest doing the deeds as alexadeparis suggested. This might require you to have to pay two transfer fees to Marriott, but it keeps the chain of title clearer.

Yes, I called owner modifications first and they referred me to resale department since they handle the ROFR process. Made no sense to me either but that's all they kept saying.

I agree with alexandeparis' suggestion and will definitely do that if I come across that road.

 

[Seaport104]

Update

Wow, it's amazing how I cannot get a consistent answer.

Received an email at 9 am indicating all points (BI's) on the deed must be sold

then 20 minutes later, received another email from the same person indicating they are not certain and will need to look into it