>TYPE() behaves like this, VARTYPE() doesn't.

There is one difference that I know of. For a nested reference to an object, like Object1.Object2.Object3, if you want to check the type of Object3, and any one of the parent objects does not exist Vartype will give an error, while Type will work, ie.

Type("Object1.Object2.Object3") returns "U"
VarType("Object1.Object2.Object3") will give an error.