Points Buyers and Special Assessments

[DCBoy]

Anyone know if/how points buyers will be responsible for payment of maintenance fee special assessments assessed on properties in the future? Also, will Marriott's focus on point sales effectively increase the cost of those special assessments to owners if the pool of owners decreases in the future as a result of the DC program?

 

[RBERR1]

Don't know for sure but logically this is how it should work.

Properties are deposited into the trust and trust points are created which are given to Marriott as consideration.

Trust receives maintenance fees on points including points owned by Marriott. Trust pays maintenance fees on properties.

If special assessment, trust would have to pay additional maintenance fees and therefore it would need to be offset by increase in trust maintenance fees in next fiscal year. The special assessment would be allocated as an increase across all pts owners and not related to a specific person buying points which were created as a result of adding it to the trust.

 

[SueDonJ]

Anyone know if/how points buyers will be responsible for payment of maintenance fee special assessments assessed on properties in the future? Also, will Marriott's focus on point sales effectively increase the cost of those special assessments to owners if the pool of owners decreases in the future as a result of the DC program?

The Operating Costs, including any Special Assessments, of the existing resorts are still spread out among the same number of Weeks in the specific resort calendars regardless of how many have been conveyed to the DC Trust. Individual owners will be responsible for the Weeks they own, the DC Trust will be responsible for the Weeks that have been conveyed to the Trust, and Marriott Vacations Worldwide will be responsible for the Weeks they're holding (which have not been conveyed.) *Like RBerr1, I'm not certain but this is what logically makes sense based on how the governing docs for Weeks are written.*