Introduction

[jimf41]

$2,500, isn't it? $25 per BI, a BI is 250 Points, 2K Points is 8 BI's, so $200. Plus $300 Education Fee, plus $2K minimum Initiation Fee, equals $2,500.

I thought you said you weren't good at math?

 

[SueDonJ]

I thought you said you weren't good at math?

It's a necessary evil, one of those things you have to learn to survive.

 

[SueDonJ]

This is from the trust documents. I posted it in post 15 of this thread.



I believe a Base Interest is 1000 points. So if someone owns 2000 points, they could sell 1000 and keep 1000. They couldn't sell 500 or 1500, since that would cause one of the owners (seller or buyer) to have less than a Base Interest. If you own 1500 points, the only option is to sell all of them since no combination would permit both people to have at least 1000 points.

I think it was also you who said before that if multi-Weeks were purchased at the same time in the same deed, the owner could sell them individually. This info about the Base Interests is great, thanks! But I'm also trying to nail down how the contracts are written when DC Points are purchased, and if Base Interests can be sold separately if they're originally included in the same (deed? contract? - not sure of the format.)

Boy, BI's meaning Beneficial Interests, also meaning Base Interests ... lots of wiggle room for confusion to settle in the DC docs.

 

[dioxide45]

I think it was also you who said before that if multi-Weeks were purchased at the same time in the same deed, the owner could sell them individually. This info about the Base Interests is great, thanks! But I'm also trying to nail down how the contracts are written when DC Points are purchased, and if Base Interests can be sold separately if they're originally included in the same (deed? contract? - not sure of the format.)

Boy, BI's meaning Beneficial Interests, also meaning Base Interests ... lots of wiggle room for confusion to settle in the DC docs.

I take the statement I posted to indicate that if you bought multiple beneficial interests on one deed, you could deed out a smaller number than you own, as long as no owner has less than a Base Interest. This information is in the MVC Destinations Multisite Public Offering Statement. So in essence it is part of the contract that you sign when you buy trust points.

In the weeks system when you bought two weeks together at the same resort, they were usually on the same deed. You were able to sell one unit out of that deed if you wanted to. I don't see why it would be different in points.

Something else to consider, If someone owns 1000 points and I own 1500 points, I really should be able to sell them 500 points if I desire. Doing so will not cause either party to not hold a base interest.

Of course all of this is based on how Marriott interprets the contract language and puts it in to actual practice.

 

[SueDonJ]

I take the statement I posted to indicate that if you bought multiple beneficial interests on one deed, you could deed out a smaller number than you own, as long as no owner has less than a Base Interest. This information is in the MVC Destinations Multisite Public Offering Statement. So in essence it is part of the contract that you sign when you buy trust points.

In the weeks system when you bought two weeks together at the same resort, they were usually on the same deed. You were able to sell one unit out of that deed if you wanted to. I don't see why it would be different in points.

Something else to consider, If someone owns 1000 points and I own 1500 points, I really should be able to sell them 500 points if I desire. Doing so will not cause either party to not hold a base interest.

Of course all of this is based on how Marriott interprets the contract language and puts it in to actual practice.

It's the "same deed" stuff that might be what's tripping me up. Our two weeks bought at the same time at the same resort aren't on the same deed. Could be because one was original developer inventory and one was a Marriott resale, I don't know. Although with some different deed language that's probably why.

The DVC folks talk about "contracts" and not so much "deeds." Another reason they say to split up more-than-minumum purchases into different contracts is because it's easier for transfers to be processed for heirs - instead of two heirs filing paperwork to split a 300-point contract, they each can inherit a 150-point contract. I'd just like to know if this particular tidbit from the DVC folks is another that might apply to Trust Points in some way, as long as the questions about re-sold/transferred Trust Points are still swirling.

 

[KathyPet]

Update on St. Kitts???

Sales Exec,
Could you give a update on the St. Kitts property? Just returned from there. No sales people on site. Heard from one of the management people that they are 60-70% sold and that currently they are still selling deeded weeks there because they have not received the necessary government approval to put inventory into the trust. Having dealt first hand with the government officialdom when trying to get my resale deed recorded I would imagine it will take a very long time for the necessary government approval to occur. ANy knowledge on this????

 

[FlyerBobcat]

From what I see to this point , "Sales Executive"s life here lasted for exactly two hours after hist first post on Jan 29th....

Sales Exec,
Could you give a update on the St. Kitts property? Just returned from there. No sales people on site. Heard from one of the management people that they are 60-70% sold and that currently they are still selling deeded weeks there because they have not received the necessary government approval to put inventory into the trust. Having dealt first hand with the government officialdom when trying to get my resale deed recorded I would imagine it will take a very long time for the necessary government approval to occur. ANy knowledge on this????

 

[Beefnot]

He was run off

 

[CashEddie]

I wouldn't jump to the conclusion that he is gone just yet. The guy did say upfront that he would be posting on his personal time and not in an "official" capacity but would try to answer questions from his personal perspective and understanding.

I would imagine a large portion of his time would be devoted to his day job which he states as selling for Marriott. Everyone doesn't have the time or desire to be on these boards as an active participant.