Newbie Worldmark contract question

[VacationForever]

Newbie to Worldmark here. I randomly made an offer to buy a contract a couple of months ago and today I received the transfer document, yeah!

A couple of questions regarding what I see on the document:
It is a fully loaded contract, this year's points and last year's points are still available, with January as the anniversary date. I also saw a reservation with ~6K credits for Dec 2013 which I believe to mean these points are from 2011. The closing company said they belong to the buyer and I can do whatever I want with the reservation. What do I need to do? If I were to make a change, do I lose the points since they are past the 2-year mark?

The points from 2012, do I have to initiate my reservation this year for next year's date? Same thing, can I then modify it next year?

Thanks!

 

[cotraveller]

Newbie to Worldmark here. I randomly made an offer to buy a contract a couple of months ago and today I received the transfer document, yeah!

A couple of questions regarding what I see on the document:
It is a fully loaded contract, this year's points and last year's points are still available, with January as the anniversary date. I also saw a reservation with ~6K credits for Dec 2013 which I believe to mean these points are from 2011. The closing company said they belong to the buyer and I can do whatever I want with the reservation. What do I need to do? If I were to make a change, do I lose the points since they are past the 2-year mark?

WorldMark credits (points) are issued on the first of the anniversary month and have a 2 year life. Last years credits for an account with a January anniversary date would have been issued on January 1, 2012 and would have an expiration date of January 31, 2014. You can book a reservation with those credits anytime before they expire and the check in date for the reservation can be 13 months away.

The expiration date for current credits can be displayed in your online WorldMark account, but the only way to tell the expiration date for credits within a reservation is the call the Vacation Planning Center and ask. If a reservation contains expired credits it can be cancelled and the credits used for a different reservation. It is best to do that via phone to make sure the expired credits are not lost.

You can find an explanation of expiring credits and ways to handle them here.

The points from 2012, do I have to initiate my reservation this year for next year's date? Same thing, can I then modify it next year?

Thanks!

Again, WorldMark credits expire at the end of the month 2 years following their issue date. January 2012 credits would need to be used before January 31, 2014. If you make a reservation using those credits the check in date could be as far out as January, 2015.

There are a lot of details to learn if you want to make best use of your new WorldMark account. The WorldMark web site has some good owner education information that you can access once you are registered there. There are also several independent sites that have a lot of good information. Read, ask questions, and welcome to WorldMark.

 

[VacationForever]

Thanks, Fred. It helps... so it looks like I can rebook the Dec 2013 reservation (with expired points) but should do it with an agent. I think it means that I have to use it to stay somewhere by Feb 2014.

 

[benyu2010]

Thanks, Fred. It helps... so it looks like I can rebook the Dec 2013 reservation (with expired points) but should do it with an agent. I think it means that I have to use it to stay somewhere by Feb 2014.

Fred pretty much answered it all. Account is frozen during the transfer process and it has a 30 calendar day window to complete and return paperwork to Wyndham. What you need to focus now is to get it done and get it into your name ASAP. Then we may help you go through the detail and use every point you have. It is ample amount of time before you are forced to use any of them. Just follow up the post and everyone can give you step-by-step help regarding preserved credits in reservation and soon expired Jan 31,2014 credits, AfTER ownership transfer completed.

 

[VacationForever]

Fred pretty much answered it all. Account is frozen during the transfer process and it has a 30 calendar day window to complete and return paperwork to Wyndham. What you need to focus now is to get it done and get it into your name ASAP. Then we may help you go through the detail and use every point you have. It is ample amount of time before you are forced to use any of them. Just follow up the post and everyone can give you step-by-step help regarding preserved credits in reservation and soon expired Jan 31,2014 credits, AfTER ownership transfer completed.

Yep... Intending to do just that.. ie, getting the paperwork back asap.