Are you considering investing in Marriott Vacation Club? One of the key terms you may come across is “beneficial interest”. In this article, we’ll take a closer look at what a beneficial interest in Marriott Vacation Club actually means.
What is Marriott Vacation Club?
Marriott Vacation Club is a timeshare program offered by Marriott International. It allows individuals to purchase the right to use a specific unit or property for a set period of time each year. The program has properties all over the world and offers various perks and benefits to its members.
What is a Beneficial Interest?
A beneficial interest in Marriott Vacation Club refers to the ownership interest that an individual holds in a specific property or unit within the program. This ownership interest grants the individual certain rights and privileges, such as the right to use the property for a set period of time each year.
Types of Beneficial Interests
There are two main types of beneficial interests within Marriott Vacation Club: deeded and right-to-use.
Deeded: With a deeded beneficial interest, you own an actual piece of real estate that is registered with local government authorities. You have the right to use that property for a set period each year, typically one or two weeks. You can also sell or transfer your ownership interest at any time.
Right-to-Use: With a right-to-use beneficial interest, you don’t actually own any real estate. Instead, you have the right to use a specific unit or property for a set period each year, typically between 10-50 years. After that period expires, your right-to-use agreement ends and ownership reverts back to Marriott Vacation Club.
Benefits of Having Beneficial Interest
There are several benefits to having a beneficial interest in Marriott Vacation Club:
- Access to high-quality vacation properties around the world at a fraction of the cost of owning a second home
- Flexibility to choose when and where you want to vacation within the Marriott Vacation Club network
- Ability to exchange your beneficial interest for Marriott Rewards points, which can be used for hotel stays, flights and other travel-related expenses
- Potential financial gain if you choose to sell your deeded beneficial interest in the future
Conclusion
In summary, a beneficial interest in Marriott Vacation Club is an ownership interest that grants an individual the right to use a specific unit or property within the program for a set period each year. Whether you opt for a deeded or right-to-use beneficial interest, there are numerous benefits to investing in Marriott Vacation Club.