Selling trust points belonging to deceased relative

[dcrand]

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Hi,
My mother died in March 2024. I got some great help from this forum about what to do with the remaining 1000 points which she still owns. I contacted Marriott exit services and they told me they couldn't offer any assistance (e.g., buying back the remaining points) unless the points were transferred to someone else. No one else in my family wants the points and I'm afraid if I transfer them to myself, I'll be stuck with paying the annual operating fees. We currently have the points listed with a Realtor. Marriott told me this is okay even though she has died. We've been trying to sell them for long before she died and they haven't sold. We've agreed to pay half of the closing costs and we are still getting zero interest in the points (although initially the listing didn't indicate this in any way and I had to keep nagging them to change the listing so prospective buyers would know). Her annual fees are due 12/1 and we are desperate to get rid of these points. Any suggestions? Should we offer to pay all of the closing costs? Is there somewhere else I could list them? I'm not really comfortable doing the full sale on my own, but there must be other venues where I could try to get rid of these points? What are the odds that Marriott will take the points back if I transfer them to myself? I appreciate any words of wisdom this group can offer!

 

[VacationForever]

@LeslieDet Is the best person to answer the question regarding the need to go through probate or not regarding trust points that belonged to the decease. If it needs to undergo probate, you cannot transfer the points to anyone, including to Marriott. You can ignore this, which @LeslieDet frowns upon, and after a couple of years of non-payment of MF, Marriott will foreclose on it and take it back.

 

[rthib]

My guess the reason you are getting no interest is not the closing cost but the points cost. If you look on redweek you will see listings for less than $1/point.
If you are selling for near what she paid you will never get that cost. Most folks are looking at a max price of $3 but if you want them sold quickly would probably need to go lower.
Redweek is a good source to see what the market is.

You could list them on redweek at $1-$2. It will most likely not pass ROFR and Marriott will be the one who ends up buying them.

If you want to sell them with someone else, I would look for a broker who deals with timeshares. There are few listed in the forum here for people who had success buying.

 

[HudsHut]

End the listing with the Realtor.

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[TheTimeTraveler]

• https://tugbbs.com/forums/threads/marriott-trust-points-after-member-dies.362871/post-3044543
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• #1

Hi,
My mother died in March 2024. I got some great help from this forum about what to do with the remaining 1000 points which she still owns. I contacted Marriott exit services and they told me they couldn't offer any assistance (e.g., buying back the remaining points) unless the points were transferred to someone else. No one else in my family wants the points and I'm afraid if I transfer them to myself, I'll be stuck with paying the annual operating fees. We currently have the points listed with a Realtor. Marriott told me this is okay even though she has died. We've been trying to sell them for long before she died and they haven't sold. We've agreed to pay half of the closing costs and we are still getting zero interest in the points (although initially the listing didn't indicate this in any way and I had to keep nagging them to change the listing so prospective buyers would know). Her annual fees are due 12/1 and we are desperate to get rid of these points. Any suggestions? Should we offer to pay all of the closing costs? Is there somewhere else I could list them? I'm not really comfortable doing the full sale on my own, but there must be other venues where I could try to get rid of these points? What are the odds that Marriott will take the points back if I transfer them to myself? I appreciate any words of wisdom this group can offer!

Sorry for the loss of your mom.

Place your points on eBay for a five day auction and let the high bidder have them. Start the bidding at $1 per point.

Marriott likely won't let them pass ROFR for less than $3.50 per point so anything less than $3.50 per point will likely be purchased by Marriott and you'll be 100% done with them. This will be the quickest way to unload them and Marriott will eat the 2025 maintenance fees.

Note; Marriott currently charges around $16 per point. Marriott can get that, but you won't be able to get anywhere near that. Lower your expectations, follow the advice and your points will be a distant memory.

Welcome to TUG.










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[LeslieDet]

What you are running into is the complications of needing to probate your mom’s estate. if you aren’t already aware, the only way to legally transfer ownership of the MVC Trust Points is to process an ancillary probate in Orange County, Florida, the county where the deed is recorded. MVC will not accept transfers directly from an estate. That is why MVC said that you’d have to convey the deed to a person. The ancillary probate is also the only way you can legally convey ownership to a buyer. So, that’s important for a buyer to know, and your realtor should also be aware of that fact. The time to transfer will necessarily involve the executor of your mom’s estate obtaining probate court approval (which is not difficult, it just takes time). If you convey ownership to yourself, you can then sell or give back. You might want your mom’s estate to pay the maintenance fees due on 12/1/24, just so things will be smoother. if you do convey to yourself, you won’t get stuck. MVC will take back without paying you. The maintenance fees must be current though. BTW, I disagree with those who say MVC will exercise the ROFR if you get a buyer who will enter into a contract with you now, subject to the successful probate transfer. MVC simply doesn’t get invloved in probate transactions. Now, if you convey the ownership to yourself, then enter into a contract to sell, yes, it’s very possible MVC exercises it’s ROFR. And idk eBay rules, but I doubt you’ll be able to auction anything off that requires a probate judge to approve.

 

[dcrand]

Wow - this is all a lot to digest. It seems that the first thing I need to do is the ancillary probate in Orange County, Florida. @LeslieDet do you recommend I hire a lawyer for this? When I tried to search for info on how to do it myself, I get about 1000 hits for lawyers and nothing else really helpful. There's myorangeclerk.com, but it doesn't seem to have anything specifically for ancillary probate. I live in Pennsylvania (as did my mother) and have already gone through the probate process here for her will. If it would be difficult to do myself, is there someone you would recommend to help me?
My realtor didn't tell me that I would need to do this in order to transfer the points to a buyer. The points have been for sale for well over a year at $1/point https://www.timesharebrokersmls.com/Listing/MARRIOTT_VACATION_CLUB_DESTINATIONS/52923.html.
I am the executor of her estate. Once through probate, can I transfer it to her estate? Or does it have to be a living person? If I convey ownership to myself, what incentive does Marriott have to take them back?
Thanks everyone - I appreciate your help. I can't believe how complicated it is to get rid of an "asset" that no one in the family even wants.

 

[1Kflyerguy]

One challenge you may face is 1000 points a pretty small amount. If someone is just starting with MVC, 1000 points won't be enough to be useful on its own. For people that already own points its useful, but unlikely to bump someone up a status level.

 

[LeslieDet]

Wow - this is all a lot to digest. It seems that the first thing I need to do is the ancillary probate in Orange County, Florida. @LeslieDet do you recommend I hire a lawyer for this? When I tried to search for info on how to do it myself, I get about 1000 hits for lawyers and nothing else really helpful. There's myorangeclerk.com, but it doesn't seem to have anything specifically for ancillary probate. I live in Pennsylvania (as did my mother) and have already gone through the probate process here for her will. If it would be difficult to do myself, is there someone you would recommend to help me?
My realtor didn't tell me that I would need to do this in order to transfer the points to a buyer. The points have been for sale for well over a year at $1/point https://www.timesharebrokersmls.com/Listing/MARRIOTT_VACATION_CLUB_DESTINATIONS/52923.html.
I am the executor of her estate. Once through probate, can I transfer it to her estate? Or does it have to be a living person? If I convey ownership to myself, what incentive does Marriott have to take them back?
Thanks everyone - I appreciate your help. I can't believe how complicated it is to get rid of an "asset" that no one in the family even wants.

I do not have any suggestions for who to contact. I’d suggest you hire counsel And not attempt DIY. The entire point of the probate is to transfer legal ownership FROM her estate to someone else. The one to whom you transfer title can be an individual or a business entity.
MVC routinely agrees to take back ownership. you will not be paid and the maintenance fees must be current.
I do not know why your realtor doesn’t understand what it means when the legal owner is deceased. It is complicated because it’s real property ownership. That’s the asset, a legal interest in real property. The law doesn’t care about the value of the real property, just that it is real property. This would not have been an issue had your mom held ownership to the MVC Trust Points in a trust.

 

[dcrand]

Thanks all for your help!

Dee

 

[Fasttr]

If I convey ownership to myself, what incentive does Marriott have to take them back?

Because after they take them back, they will turn around and sell the points to somebody else for a discounted $13+ per point. They always need more points to sell, and what’s better than getting that inventory for free.

 

[svoight]

Thanks all for your help!

Dee

Dee, reach out to LT Transfers as they may be able to help with the probate process.

 

[svoight]

I do not have any suggestions for who to contact. I’d suggest you hire counsel And not attempt DIY. The entire point of the probate is to transfer legal ownership FROM her estate to someone else. The one to whom you transfer title can be an individual or a business entity.
MVC routinely agrees to take back ownership. you will not be paid and the maintenance fees must be current.
I do not know why your realtor doesn’t understand what it means when the legal owner is deceased. It is complicated because it’s real property ownership. That’s the asset, a legal interest in real property. The law doesn’t care about the value of the real property, just that it is real property. This would not have been an issue had your mom held ownership to the MVC Trust Points in a trust.

Leslie, would you have any contacts to do something similiar (ancillary probate) for a Texas timeshare?

 

[VacationForever]

Dee, reach out to LT Transfers as they may be able to help with the probate process.

LT Transfer is not a law firm. They won't be able to help.

 

[LeslieDet]

Leslie, would you have any contacts to do something similiar (ancillary probate) for a Texas timeshare?

No; I’d suggest you ask your estate attorney or use Martindale Hubbell to find a lawyer in that area who does probate work.