Deeds vs Trust Ownership Numbers

[dayooper]

Is there any info on ownership in the BG system? More specifically deeds vs trust ownership?

 

[GrayFal]

Is there any info on ownership in the BG system? More specifically deeds vs trust ownership?

Could you be more specific?
All Bluegreen ownerships are points back by a deed held in a trust.

If a resort was bought by or managed by Bluegreen, there will be fixed week/float week owners who do not belong to BGVC. But the resort is managed and maintained by Bluegreen.
Example would be La Cabana Aruba,

 

[dayooper]

Could you be more specific?
All Bluegreen ownerships are points back by a deed held in a trust.

Do the owners purchase deeds at specific resorts that can be turned in for points (like HGVC) or do they buy trust points like (Marriott or HVC/DRI)?

 

[sponger76]

Do the owners purchase deeds at specific resorts that can be turned in for points (like HGVC) or do they buy trust points like (Marriott or HVC/DRI)?

Sort of but not exactly. The deed is for a certain number of points, but has an underlying Priority Use Period (PUP). The PUP is for a specific week at a specific resort in a specific unit, pretty much like a fixed resort, fixied week deed. BUT you have to notify Bluegreen at least 11 months in advance if you want to use your PUP. If you don't actively make that request by then you no longer have the PUP and instead have the number of associated points, which you can then use to book 11 months or less in advance to book anywhere in the Bluegreen system. There is at least a 2 night minimum at most resorts, with some properties having 7 night minimums.

 

[dayooper]

Sort of but not exactly. The deed is for a certain number of points, but has an underlying Priority Use Period (PUP). The PUP is for a specific week at a specific resort in a specific unit, pretty much like a fixed resort, fixied week deed. BUT you have to notify Bluegreen at least 11 months in advance if you want to use your PUP. If you don't actively make that request by then you no longer have the PUP and instead have the number of associated points, which you can then use to book 11 months or less in advance to book anywhere in the Bluegreen system. There is at least a 2 night minimum at most resorts, with some properties having 7 night minimums.

OK, so the weeks are deeded, but you need to let BG know 11 at least 11 months in advance. If someone were to purchase BG, either from the developer or resale, that person would purchase and receive a deed, correct? Would that mean that an owner MF's are based on where they own? It's not like a trust where everybody pays the same amount, correct?

 

[sponger76]

OK, so the weeks are deeded, but you need to let BG know 11 at least 11 months in advance. If someone were to purchase BG, either from the developer or resale, that person would purchase and receive a deed, correct? Would that mean that an owner MF's are based on where they own? It's not like a trust where everybody pays the same amount, correct?

You don't actually own a deeded week at a resort, just points in a trust, but that PUP is yours. You don't actually pay MFs based on the resort your PUP is at. The weeks are all technically part of a trust, and the MFs for all of those weeks are divided by all of the points backed by that inventory, and everyone pays the same MF per point regardless of which resort their PUP is at.

 

[GrayFal]

OK, so the weeks are deeded, but you need to let BG know 11 at least 11 months in advance. If someone were to purchase BG, either from the developer or resale, that person would purchase and receive a deed, correct? Would that mean that an owner MF's are based on where they own? It's not like a trust where everybody pays the same amount, correct?

No, you don’t get a deed, you get shares in a trust just like Marriott Abound owners.
The shares/points are backed by deeded properties, it could be a full week some place or just a few days.
The deeded time that backs your points is called your Priority Use Time or PUP.
You are entitled to use your pup each year - by notifying BG 13 months to 11 months before check in. Once it hits11 months that time is released to all BG owners.

95% of BG owners have no idea what a PUP is and just use their points People who do know will seek out good resale pups.
I used to have 15 PUPS at La Cabana mostly between week 51,52,1-4. People like to find Big Cedar PUPs so you can just reserve your unit every year.

Even though you have this priority use, the underlying deeds will never come out of the trust.

There are several trust funds must most people own in one that is billed in Oct pay in November
there is a base fee of $384 plus club dues $159? Plus per point cost.
Thus is not like Wyndham where your ownership determines the fees paid. Every owner pays the same.

 

[GrayFal]

You don't actually own a deeded week at a resort, just points in a trust, but that PUP is yours. You don't actually pay MFs based on the resort your PUP is at. The weeks are all technically part of a trust, and the MFs for all of those weeks are divided by all of the points backed by that inventory, and everyone pays the same MF per point regardless of which resort their PUP is at.

I was posting the same time as you only I was long winded

 

[dayooper]

You don't actually own a deeded week at a resort, just points in a trust, but that PUP is yours. You don't actually pay MFs based on the resort your PUP is at. The weeks are all technically part of a trust, and the MFs for all of those weeks are divided by all of the points backed by that inventory, and everyone pays the same MF per point regardless of which resort their PUP is at.

No, you don’t get a deed, you get shares in a trust just like Marriott Abound owners.
The shares/points are backed by deeded properties, it could be a full week some place or just a few days.
The deeded time that backs your points is called your Priority Use Time or PUP.
You are entitled to use your pup each year - by notifying BG 13 months to 11 months before check in. Once it hits11 months that time is released to all BG owners.

95% of BG owners have no idea what a PUP is and just use their points People who do know will seek out good resale pups.
I used to have 15 PUPS at La Cabana mostly between week 51,52,1-4. People like to find Big Cedar PUPs so you can just reserve your unit every year.

Even though you have this priority use, the underlying deeds will never come out of the trust.

There are several trust funds must most people own in one that is billed in Oct pay in November
there is a base fee of $384 plus club dues $159? Plus per point cost.
Thus is not like Wyndham where your ownership determines the fees paid. Every owner pays the same.

Thank you!

 

[GT75]

Thank you @GrayFal and @sponger76 for the explanation.

 

[GrayFal]

Thank you!

Important to note that "older" ownerships. Pre 2015 were all PUPs for full weeks. As the VC grew, they greatly increased the number of points needed to book at each resort.
Now, many people own unusable PUPs - 3 tuesdays of 5,000 points per night at X resort - so buying older, full week PUPs at a desirable resort and time is a definite advantage.