Inheriting weeks from Mother-in-Law. Is it worth it?

[lightningsling]

Hi Folks,

My mother-in-law owns two legacy weeks (2150 point value for one and 2475 point value for the other) at resorts in Park City (we live nearby). The weeks are enrolled and so they are currently convertible to points if desired.
She wants to give away the two weeks to a family member and my wife and I are the only ones interested so they are ours if we want them. I had two questions I wanted to put out to the forum:

1. Does anyone know if the "enrolled" and "convertible into points" status of the legacy weeks transfers via family inheritance (as opposed to a sale which doesn't, from what I've read here, appear to transfer).
2. I know this is a nuanced question and would be different for everyone depending on the circumstances, but if you could afford the yearly maintenance fee and had kids (so multi-room hotels are appealing) and often plan trips in advance, would you assume the weeks?

Thanks!
Rick

 

[Fasttr]

Seems perhaps like a Summit Watch Gold and a Mountainside Gold week?

The Maintenance Fees per point may be a bit high on those weeks, but still worth considering, knowing you would be getting them for free.

1. Enrollment (or ability to Enroll) would transfer with a Mother to Child gift....so if she gifted to your wife and you, those weeks could continue to be enrolled in the points program.
2. Yes, assuming the MF to point ratio wasn't crazy bad, I would certainly consider it.

 

[Steve Fatula]

Take a little time to learn the ins and outs, tricks, etc and I think you'll find value.

 

[Fasttr]

Here is the Owner Benefits chart. The 4,625 points would put you at Select level.

https://www.marriottvacationsworldwide.com/common/cms/mvc/pdfs/owners/Owner-Benefit-Level.pdf

 

[Quilter]

If Fasttr is right it looks like M/F’s are $1700 and $2000ish for ‘23. By being enrolled they come with a lot of flexibility. The annual dues for Abound give an II account with free exchanges to other MVC resorts, no fee for lock off.

I’m not sure what time of year Gold is in Park city but does that appeal to your family?

By planning ahead you could get some nice exchanges.

 

[lightningsling]

Thanks everyone. Those are the right MF numbers (so yearly total is about 4 K with the yearly dues). It is for those two properties, Fasttr. In addition to trading the weeks or converting the points, we'd also potentially go stay at the properties directly (the kids are at the age where you give them a pool and they are happy). I'd have to check the season, but give my kids access to a pool and they don't care so we'd potentially go any time of year (off-peak included).

This has been helpful--thank you!
Rick

 

[Fasttr]

Does anybody know if either resort allows owners day-use privileges of the facilities? OP said they live nearby. If so, that would allow OP to let their kids have some pool fun, while still keeping their weeks/points available for other usage. Would be the best of both worlds.

 

[travelhacker]

Thanks everyone. Those are the right MF numbers (so yearly total is about 4 K with the yearly dues). It is for those two properties, Fasttr. In addition to trading the weeks or converting the points, we'd also potentially go stay at the properties directly (the kids are at the age where you give them a pool and they are happy). I'd have to check the season, but give my kids access to a pool and they don't care so we'd potentially go any time of year (off-peak included).

This has been helpful--thank you!
Rick

If I were in your situation, I wouldn't hesitate to take the weeks, but most on here know timeshares a bit better than someone just starting out.

Here's how I would use:
As others have pointed out -- it isn't optimal for using as points (for the maintenance fee), but you will have Select status in MVC -- which isn't really anything special, but there's at least no penalty for booking 13 months out should you choose to use points.

Points are nice for a couple of reasons:
1) It's nice not to be tied to a week at a time.
2) If you are willing to travel during the offseason and during the week, I find points to be a pretty solid value.
3) You can rent points in from other Marriott owners.

Because your weeks would be enrolled, you can reserve a home week and exchange them in Interval International (without any fees). So you could potentially get 4 weeks of vacation for about $4000 in fees.

Because they are gold weeks, you may not always have access to the absolute best inventory, but I think you would be pleased with how things play out.

Lastly, there really isn't much risk. If you decide timeshares aren't for you you could always sell them (maybe get a couple thousand), or if you just want to be done quickly, you could always just deed back to Marriott.

 

[vacationtime1]

OP is asking the right kind of questions which makes me believe he will maximize the value of the weeks should he accept them. I agree that the MF's are high (especially on a point election), but the buy-in price can't be beat.

I would view this as a free, multi-year test drive for timeshares. As @travelhacker observes, you can always give them away later if they don't work out for your family.

 

[cp73]

Rick you really can't go wrong with taking them. Whether you trade them in for points or use interval international for a trade (most value is here) be sure to make your requests as soon as far out as possible at the first minute possible. Otherwise you will get frustrated in not getting into the locations you want. Especially if your chasing a school schedule. The more in advance you plan the greater your chance of success.

 

[Swice]

If you use the timeshare (meaning go to that and other places), it will be of great benefit. My 22 year old has just to the realization in the past couple of years that not everyone has traveled to all the places he’s been! He thought going to a different timeshare location every year (including international) was normal. You have zero upfront costs!
repeat— IF you use it… if you don’t then it will be a money pit.

 

[Dean]

Hi Folks,

My mother-in-law owns two legacy weeks (2150 point value for one and 2475 point value for the other) at resorts in Park City (we live nearby). The weeks are enrolled and so they are currently convertible to points if desired.
She wants to give away the two weeks to a family member and my wife and I are the only ones interested so they are ours if we want them. I had two questions I wanted to put out to the forum:

1. Does anyone know if the "enrolled" and "convertible into points" status of the legacy weeks transfers via family inheritance (as opposed to a sale which doesn't, from what I've read here, appear to transfer).
2. I know this is a nuanced question and would be different for everyone depending on the circumstances, but if you could afford the yearly maintenance fee and had kids (so multi-room hotels are appealing) and often plan trips in advance, would you assume the weeks?

Thanks!
Rick

If you can afford it and find value in those weeks and the system, I think it's a reasonable choice. It'll give you the ability to rent points transferred to you as well. Still it's not a windfall, if they were not enrolled, I'd pass. I think when you do the transfer they will become unenrolled but you can reenroll for free. LT transfers should be able to create a deed and get this transferred cheaper than most and they do a good job. Cost maybe $300 total.

 

[T-Dot-Traveller]

Hello @lightningsling
Welcome to TUG

Your getting great advice from Marriott owners.

fyi- free Marriott give away's on TUG can go to a new owner within hours
- so if you later choose to move on - exiting will not be a problem.

 

[DanCali]

You got some great advice so far. I also wouldn't hesitate to do it, as long as the weeks had a resale value that was not zero so you know you can sell them relatively easily if you decide it's not for you.

The only other thing I'd add is that if you live close to the resorts, then one other thing to consider is that by having access to Abound program, you can book some really cheap staycations, especially Sun-Fri stays. We have a similar situation with a couple of MVC resorts in our area and we'll book cheap 4- or 5-night stays in the offseason in a studio without even sleeping at the resort. We use the facilities (pools/grills/restaurant/activities) during the day or evening, or "work remotely" from the balcony, and then go back home to sleep.

Looking at the Park City resorts, there are times in late spring/early fall when a studio is just 50 points (or just 75 points in early/late summer) and 25-50 points more for a 1BR. Since you can also rent points from others at around $0.7/point you can literally say it's $35-$50/night. If you had an owner benefit level of Executive or higher (I realize you wouldn't) then you can even get a 25%/30% discount on top of those rates when booking within 30/60 days.

Asides from the fact that it can be fun and cheap, this also has other ancillary benefits like help getting you to milestones of 50/75 night per year which get you Marriott suite night awards or a free hotel night certificate that you can get additional benefits from.

 

[Superchief]

We've been going to Park City every other summer for the past 15 years and own gold EOY at Mountainside. Park City is becoming a very popular summer destination, but it is still pretty easy to avoid crowds. We enjoy going to Mirror Lake area for hiking and scenic drives and have never seen it really crowded. The Mountainside pool area can be very crowded on weekends when Utah schools are out, but that is the only thing we try avoid.

My Mountainside Gold week DC points currently cost .68 per point, which is the same as trust points. We typically convert to points because of the flexibility, and usually can find late summer weeks for fewer points than we receive for our week. Mountainside and Summit Watch also both have lockoffs, so you can exchange through II. I typically find greater value in converting our week to DC points, but your Summit Watch week might be better to use or exchange. I think both resorts also offer split week options, so you could stay four week nights on one trip, and three weekend nights on another. As long as you and your family enjoy traveling and can afford the Maintenance fees, I believe you will find value in owning these timeshares.

To Fastracks question about day passes, I doubt they would be allowed during the summer because the pool area can get very crowded. I think some local owners bring a few extra friends during their stays as it is, so I don't think it would be wise to offer day passes.

 

[tahoe]

If Fasttr is right it looks like M/F’s are $1700 and $2000ish for ‘23. By being enrolled they come with a lot of flexibility. The annual dues for Abound give an II account with free exchanges to other MVC resorts, no fee for lock off.

I’m not sure what time of year Gold is in Park city but does that appeal to your family?

By planning ahead you could get some nice exchanges.

1700 + 2000 + 215 annual club dues and you are looking at almost $4K/year in fees.

To OP, I would ask:
- Are 2 weeks in Park City (in the respective season) worth $4K/year to you?
- Check what you can book for ~4625 points/year - is it worth $4K/year to you? (Points chart: https://vacationpointexchange.com/pointschart/Abound2023.pdf) I recommend you understand the range/implications of MF cost per point.

Alternatively, you might come out ahead via II trades, but that may take a bit more effort.

 

[hangloose]

A lot of great input above.

The benefit here is that these Deeded Weeks are already ENROLLED, thus eligible for Vacation Club Points exchange (if desired)...given they are being transferred from direct family (Parent to Child). That is a significant benefit, which many other MVCI owners pay a lot to enroll their weeks (regardless of season/resort). OP can still use the standard week as deeded within Gold, elect for exchange via II (base fees covered if enrolled), or exchange for VC Pts. Best of all worlds.

Decision comes down to whether the OP is okay with:

• Annual maintenance fees AND club dues.
  • These fees only increase annually and don't go away.
• Likes Park City and is okay traveling within "Gold" season
• Is willing to invest the time/effort/energy to fully maximize usage

If so, I'd take them if I were the OP.

 

[DRH90277]

I apologize if I am repeating but I've watched this and thought I might encourage taking the weeks.

1. Value as Resales - I suggest you go on Redweek and look at the timeshares for sale for current sales prices for these weeks. This will give you a pretty good idea of the market value of the weeks "and" what you could sell them for. Your worst-case scenario is that you get the weeks and then place them for sale on Redweek.
2. You could use the weeks, trade the weeks, or deposit for points - It sounds like you would likely use the weeks or rent them. I suspect the worst case scenario is renting out the weeks so compare the expected Redweek rental proceeds to the maintenance fees. I hope the rentals would exceed the maintenance fees. Exchanging for other weeks using Interval is also a good prospect.
3. Finally, I would consider the value of the 4,625 points "to me" and whether I would use them. Or, for that number of points you could get 3 5 day reservations during spring break at Newport Coast and rent them for about $2,000 each. You could probably get 3+ summer 5 day reservations in Park City - These are great.

Based upon what I know, I would not hesitate to take the weeks as I see little risk and the potential for pretty good uses. GET THE WEEKS AND MAKE IT WORK - YOU CAN DO THIS WITH LITTLE RISK.

Good luck

 

[winger]

A lot of great input above.

The benefit here is that these Deeded Weeks are already ENROLLED, thus eligible for Vacation Club Points exchange (if desired)...given they are being transferred from direct family (Parent to Child). That is a significant benefit, which many other MVCI owners pay a lot to enroll their weeks (regardless of season/resort). OP can still use the standard week as deeded within Gold, elect for exchange via II (base fees covered if enrolled), or exchange for VC Pts. Best of all worlds.

....

Add one more to the "Best of all worlds" comment.
OP can also rent points from other members (like from VacationPointExchange.Com) to top off for specific Club points reservations he is short of points on. This ability IMHO is highly underrated.

 

[DRH90277]

Rick, LightningSling - Have you made a decision on what to do with these timeshares?