Just told by VOA that Points can NOT be purchased in a trust

[SunandFun83]

I was renting some points on vacationpointexchange.com and for the second time the owner had a really hard time getting points into my Marriott account. I spoke with Marriott today and was told that my weeks are in my living trust, but, the points are in my individual name. The VOA said points can not be purchased in a trust.

Do any of you have a different experience where you bought points in your living trust or an LLC?

If the personal name purchase rule is true, is that just another barrier Marriott has put up against owners who want to dump their points?

 

[jeepie]

I was renting some points on vacationpointexchange.com and for the second time the owner had a really hard time getting points into my Marriott account. I spoke with Marriott today and was told that my weeks are in my living trust, but, the points are in my individual name. The VOA said points can not be purchased in a trust.

Do any of you have a different experience where you bought points in your living trust or an LLC?

If the personal name purchase rule is true, is that just another barrier Marriott has put up against owners who want to dump their points?

The VOA was wrong, or misunderstood.
My DC points and all of my weeks are in my Trust. MVCI should be willing to revise the ownership of your points (assuming that is what you want, based on your attorney's recommendation). Cheers.

 

[BocaBoy]

My DC points and all of my weeks are in my Trust. MVCI should be willing to revise the ownership of your points (assuming that is what you want, based on your attorney's recommendation). Cheers.

Marriott won't do the paperwork for the ownership revision, but they will recognize a properly prepared change of ownership that you submit to them.

 

[GregT]

I'm not sure what the right answer is.

I own my weeks in our family Trust, and when I purchased my points, I bought them in my family Trust.

However, Marriott needed to setup two different accounts for me, and referenced my Trust as being the reason for the second account. I never did get a satisfactory explanation, but I definitely have two account numbers on vacationclub.com.

Best,

Greg

 

[NYFLTRAVELER]

I was renting some points on vacationpointexchange.com and for the second time the owner had a really hard time getting points into my Marriott account. I spoke with Marriott today and was told that my weeks are in my living trust, but, the points are in my individual name. The VOA said points can not be purchased in a trust.

Do any of you have a different experience where you bought points in your living trust or an LLC?

If the personal name purchase rule is true, is that just another barrier Marriott has put up against owners who want to dump their points?

I am a DC points (only) owner and own them through an LLC. The LLC is the deed holder.

 

[dioxide45]

It sounds like Marriott is unable to add points to an account on their system that is in a trusts name. That seems odd. Unless it is written in to the governing documents that points ownership can't be held in a trust, they can't restrict this in any way. It doesn't look like they are. They are recognizing ownership where the deed is in a family trust.

They seem to have some type of work around in their system where they place the trust points in an individuals name within their system even though the deed is in a trust. Thus why Greg had two different accounts.

 

[Superchief]

I'm not sure what the right answer is.

I own my weeks in our family Trust, and when I purchased my points, I bought them in my family Trust.

However, Marriott needed to setup two different accounts for me, and referenced my Trust as being the reason for the second account. I never did get a satisfactory explanation, but I definitely have two account numbers on vacationclub.com.

Best,

Greg

Greg,
Do they include both accounts to determine your membership level? I am planning to start a trust for our MVC account that includes both trust and enrolled. The combination qualifies us to be Chairman level.

 

[SunandFun83]

That is what I am looking for!

I am a DC points (only) owner and own them through an LLC. The LLC is the deed holder.

Thanks for the great answers. GregT refers to a similar problem to the one I have. Marriott set up a different account number for my trust points and people have had problems transferring points (rental) to me.

The answer by NYFLTRAVELER above is more direct to my point. I believe points owned in the LLC could simply be abandoned.

I have found that Marriott refuses to offer any value to points, until the owner is able to find a buyer on their own. I have had conversations with four sellers of points. Marriott will not take them back. I dealt with two owners with very ill spouses, a son with deceased parents, and one owner who wanted to use the money to reallocate to weeks. In each case, Marriott took the points with ROFR within 10 days. But, Marriott would not just give a buyback price like they do on many of the legacy weeks. The owner had to find a buyer, which , could result in the high cost of a real estate agent.

I thought ownership in a trust also provided for a way to abandon points. Refusing to allow title in a trust would be a sneaky way to make sure the debt of maintenance fees was forever.

You seem to have answered my question: you can set up ownership of points in a variety of ways if you plan ahead, and persist during the transfer process.

Thanks TUGGERS for sharing your experiences.

 

[GregT]

Greg,
Do they include both accounts to determine your membership level? I am planning to start a trust for our MVC account that includes both trust and enrolled. The combination qualifies us to be Chairman level.

Sorry for late response - it is invisible to me, I actually had the accounts for awhile before I realized there was a second account. I'm sure that they will combine them to get you to Chairman.

I hope that helps!

Best,

Greg