How Many Names Can Be On a Wyndham Deeds

[lake123]

Hi,

I am new to the TUG so please forgive me if i say anything wrong here. I am considering purchasing a deeds with 550K (resale) points, which i won't be able to use them all by myself. I have 7 other siblings, who i want to share this great resource with through out the year.

This is how I understood. Since i purchased from the resale market, I won't be in a VIP status and no free guest certificates. If i want to book a room for my sibling, then we have to pay $135 fee each time. I was told the only way to avoid the fee is to add their to the deeds.

My question is, can i can add all 8 people names to a deed. Beside taking them responsible to pay for the MF if i don't pay, what will other issues be? Can anyone please give me their opinion and experience? Greatly appropriate it!!! Thank you all so much!

Lek

 

[vacationhopeful]

If you decide to sell this $3600+ debt (increasing every year) .. will they all sign off on the deed transfer?

You are talking about ONLY about 3.5 @ 154K (maybe 4 week long stays offseason on in an older resort) stays in a 1bdr unit .. you get 1 FREE guest certificate with ANY Wyndham ownership.

And I suggest, that MANY people think they can cancel a FREE vacation the day before checkin ... the weather is not perfect, kid sick, no money, can get in some overtime, car not running right, DOG can't come with us, cheerleading ccamp, etc ...

Suggest you CHARGE the relatives the $100 dollars at least for the Guest Certificate ... and paying the money when YOU make the reservation .. as you might forget WHO is using that week. :ignore:

 

[55plus]

If they are going to use the timeshare I would add them. It will save money in the long run. Saying that, do it only if you trust them because when you sell they all will need to sign off on the sale...

 

[JimMIA]

I don't know whether Wyndham has a limit on the number of people on a deed. But RCI has a limit of 2 on the number on an RCI account.

Our Wyndham is held in a family trust with three trustees. We are all owners as far as Wyndham is concerned, but RCI only recognizes the first two of us on the deed. The issue can be overcome, but it's a bit of a hassle.

And also last week, my daughter made a reservation but it ended up in my name because I'm listed first on the deed. We'll fix it, but another minor hassle.

The BIG hassle, as others have mentioned, is if you decide at some point to sell the Wyndham holding. You'd have to get all EIGHT of you to agree and sign on the dotted line. And you might have to get all EIGHT to sign to buy -- all EIGHT would also be responsible for the financial commitment that goes with ownership.

It might be worth paying for the GC's.

 

[BJRSanDiego]

If you decide to sell this $3600+ debt (increasing every year) .. will they all sign off on the deed transfer?

You are talking about ONLY about 3.5 @ 154K (maybe 4 week long stays offseason on in an older resort) stays in a 1bdr unit .. you get 1 FREE guest certificate with ANY Wyndham ownership.

And I suggest, that MANY people think they can cancel a FREE vacation the day before checkin ... the weather is not perfect, kid sick, no money, can get in some overtime, car not running right, DOG can't come with us, cheerleading ccamp, etc ...

Suggest you CHARGE the relatives the $100 dollars at least for the Guest Certificate ... and paying the money when YOU make the reservation .. as you might forget WHO is using that week. :ignore:

I agree with you, Linda. I have found and learned that if someone gets something for free and they don't have any "skin in the game" that they mentally assign a value of zero to the gift. But with 100 bucks on line, they'll show up and will have a great time.

I've given away some expensive and hard to get front row seat tickets to some amazing concerts and performances to people who were initially ecstatic over the gift to later find out that they didn't go because "they were low on gas", or "there was an important show on TV", etc. If they had to pay even a small amount, I think that they would have attended.

 

[chadwill]

Hi,

I am new to the TUG so please forgive me if i say anything wrong here. I am considering purchasing a deeds with 550K (resale) points, which i won't be able to use them all by myself. I have 7 other siblings, who i want to share this great resource with through out the year.

This is how I understood. Since i purchased from the resale market, I won't be in a VIP status and no free guest certificates. If i want to book a room for my sibling, then we have to pay $135 fee each time. I was told the only way to avoid the fee is to add their to the deeds.

My question is, can i can add all 8 people names to a deed. Beside taking them responsible to pay for the MF if i don't pay, what will other issues be? Can anyone please give me their opinion and experience? Greatly appropriate it!!! Thank you all so much!

Lek

As of last year you could have up to 8 individuals on the deed.

 

[lake123]

If you decide to sell this $3600+ debt (increasing every year) .. will they all sign off on the deed transfer?

You are talking about ONLY about 3.5 @ 154K (maybe 4 week long stays offseason on in an older resort) stays in a 1bdr unit .. you get 1 FREE guest certificate with ANY Wyndham ownership.

And I suggest, that MANY people think they can cancel a FREE vacation the day before checkin ... the weather is not perfect, kid sick, no money, can get in some overtime, car not running right, DOG can't come with us, cheerleading ccamp, etc ...

Suggest you CHARGE the relatives the $100 dollars at least for the Guest Certificate ... and paying the money when YOU make the reservation .. as you might forget WHO is using that week. :ignore:

Thank you so much, Linda. You brought up a very excellent point that i didn't think about. People has tendency to not care or give not much value and commitment if they get thing for free. I just want to save them money that's all. All my sibling are 60+. We are all at the golden ages and starting to travel a lot.

They don't understand anything about the timeshare. So, i will just told them to pay me $120 for the fee of reservation, and no refund fo cancellation. So that they will put more commitment to keep it. Do we get the points back at Wyndham if the reservation is cancel?

From the trusts and keeping the ownership on deeds, i don't really care much. We all only have 15+, 20 more years before we say good by to the world. Some may even have less. Enjoy life while we still can!

 

[lake123]

Thank you, Linda.
Thank you, Mr. and Mrs. Morris.
Thank you, Jim.
Thank you, BJR.
And Thank you, Chad.

Thank you everyone for giving your valuable time and opinions to help me understand things better.

 

[vacationhopeful]

Thank you so much, Linda. You brought up a very excellent point that i didn't think about. People has tendency to not care or give not much value and commitment if they get thing for free. I just want to save them money that's all. All my sibling are 60+. We are all at the golden ages and starting to travel a lot.

They don't understand anything about the timeshare. YOU APPEAR TO BE LEARNING ALSO.

So, i will just told them to pay me $120 for the fee of reservation, and no refund fo cancellation. I would ask for $150 - as your Guest Certificate will cost $99 online/$129 via 1-800 number PLUS Reservation Transaction & Housekeeping Fee (short stays or multiple reservations)

So that they will put more commitment to keep it. YES!!!! Absolutely!

Do we get the points back at Wyndham if the reservation is cancel? ONLY if cancelled MORE than 15 days before checkin ... which is usually HARD for people who are used to hotel checkin
From the trusts and keeping the ownership on deeds, i don't really care much. We all only have 15+, 20 more years before we say good by to the world. Some may even have less. Enjoy life while we still can!

My answers are in BOLD above ....

Wyndham can "nickel & dime" you if you do NOT learn the system .. read the Owner's Directory -- it is NOT just a pretty picture book - it has the rules in it.

I usually extend invitations to my relatives (4 other siblings with spouses) to what I call "My Birthday Party Week" every couple of years ... my first invite sounded MORE like a THREAT but they ALL showed up & had a blast for 4-5 days. Last Spring was the 3rd event ... first time in 9 years all 5 of us (at a funeral back then) were in the same room together (last sibling brought their plane ticket 20 hours before arriving & was sobbing on how happy that we all got together). Have had these events in South Florida, Kauai and Phoenix - all in the Spring around my birthday.

 

[lake123]

My answers are in BOLD above ....

Wyndham can "nickel & dime" you if you do NOT learn the system .. read the Owner's Directory -- it is NOT just a pretty picture book - it has the rules in it.

I usually extend invitations to my relatives (4 other siblings with spouses) to what I call "My Birthday Party Week" every couple of years ... my first invite sounded MORE like a THREAT but they ALL showed up & had a blast for 4-5 days. Last Spring was the 3rd event ... first time in 9 years all 5 of us (at a funeral back then) were in the same room together (last sibling brought their plane ticket 20 hours before arriving & was sobbing on how happy that we all got together). Have had these events in South Florida, Kauai and Phoenix - all in the Spring around my birthday.

Hi Linda,

Wow!!! Sounds like you all have a good reunion! That's so great! I would never be able to get all of my siblings at the same time.

Yes, i am still learning too. I meant i know just a little more then them. They know zipped (not yet) about timeshare.

May i ask another question. You sort-of mentioned the price tag of $3,600. The guy is actually offering me for ~$4,000, including his fee and unpaid 2015 MF, (excluding other costs - ie. closing cost and transfer cost, which is probably around another $1K). The unit is for 550K - the Grand Desert, LV and is in the Bankruptcy court at the moment. Per my research, the price for the Grand Desert, LV is about $1 / 1K points, since it has a low MF and still pretty new resort. Am I paying too much and what should i be concerned about?

Again, thank you so much for your great advises.

Lek.

 

[vacationhopeful]

No, the $3600 is about what the YEARLY MFs are for most 550K point ownerships .... 550*(.55 CWP +6.00 MF).

If you are buying this and able to pay the (growing) MFs every year alone, then go for it. But in 10 years, the MF easily could be in the $5600+ range very year (5% compounded).

I don't know anything about the people you are buying from .. I am sure another TUG member has more info.

It is a good number of points ... just have a plan.

 

[Richardsdeals]

We deeded our resale contracts in 4 names. Me, my wife and my mom and dad.

You will have to get everyone's signatures when you make transactions.

RC

 

[lake123]

We deeded our resale contracts in 4 names. Me, my wife and my mom and dad.

You will have to get everyone's signatures when you make transactions.

RC

Thank you, Richard. Can you elaborate the "..when you make transactions."? I think i know what you mean. But just want to really make sure. Your "make transactions" meant when selling, buying, and anything todo with deeds, right? But not when making a reservation or when arrive at the hotel / resource, right?

Thank you!

 

[lake123]

No, the $3600 is about what the YEARLY MFs are for most 550K point ownerships .... 550*(.55 CWP +6.00 MF).

If you are buying this and able to pay the (growing) MFs every year alone, then go for it. But in 10 years, the MF easily could be in the $5600+ range very year (5% compounded).

I don't know anything about the people you are buying from .. I am sure another TUG member has more info.

It is a good number of points ... just have a plan.

Hi Linda,

Thanks again for the comments.

The agent told me that the MF for 550K is ~$2,500 last year at the Grand Desert, LV. My couple of weeks researches shown that the the Grand Desert, LV has lowest MF out of all the Wydham resorts. Is that correct? Yeah, $5,600 will run my pocket dry and since i am planning to pay it on by myself in the first few years, and maybe compromise with some # from saving from paying the guest certificate fee. I didn't realize the MF can be that much different. I saw a deed of the Grand Desert, LV's 250K points with the last year MF of $1300. So, i figured the $2,500 for 550K points is just about right.

Thank you!

 

[Sloane S]

My couple of weeks researches shown that the the Grand Desert, LV has lowest MF out of all the Wydham resorts. Is that correct? !

It's among the lower ones, but there are a few lower than Grand Desert.

 

[lake123]

It's among the lower ones, but there are a few lower than Grand Desert.

Really!? Are they Christmas Mountain Timbers UDI, Wyndham Smoky Mountains, Grand Desert, South Shore, Avenue Plaza? If not, would you mind and be kind to share with us some names? ;-)

Thanks, Scott for the inputs.

 

[Ty1on]

Hi Linda,

Thanks again for the comments.

The agent told me that the MF for 550K is ~$2,500 last year at the Grand Desert, LV. My couple of weeks researches shown that the the Grand Desert, LV has lowest MF out of all the Wydham resorts. Is that correct? Yeah, $5,600 will run my pocket dry and since i am planning to pay it on by myself in the first few years, and maybe compromise with some # from saving from paying the guest certificate fee. I didn't realize the MF can be that much different. I saw a deed of the Grand Desert, LV's 250K points with the last year MF of $1300. So, i figured the $2,500 for 550K points is just about right.

Thank you!

I think it's about $2,700 for 2015....$4.90/K including $0.55 Program fee.

5% increase each year would put you at $4,400 after 10 years, barring any special assessments....

 

[Sloane S]

Really!? Are they Christmas Mountain Timbers UDI, Wyndham Smoky Mountains, Grand Desert, South Shore, Avenue Plaza? If not, would you mind and be kind to share with us some names? ;-)

Thanks, Scott for the inputs.

South Shore, Canterbury, Emerald Beach, Bali Hai. You're going to pay considerably more for those than Grand Desert though. Grand Desert and Smoky Mountains would be the close second tier.

 

[lake123]

Thank you so much Ty for the MF info. That's about right (per the agent quote).

And Thank you Scott for sharing your the low cost MF resort names.

So, what if one of the person on the deed die, what to do?

Nah.. not even worth talking about WinPointVIP {below}.

Also, have anyone heard of the WinPointVIP on eBay? I just ran across this company when looking up the resort name from Scott.

http://www.ebay.com/itm/Wyndham-Vac...858?pt=LH_DefaultDomain_0&hash=item3cfdbb9932

This company seems to be coming up with their own business timeshare model, modifying Wyndham term. The price is really not bad, but is it a deed? $4K for 250K points and $6 MF? I have to read more on this.. Interesting! Anyway, that's a different topic. Sorry!

 

[Ty1on]

Thank you so much Ty for the MF info. That's about right (per the agent quote).

And Thank you Scott for sharing your the low cost MF resort names.

So, what if one of the person on the deed die, what to do?

Nah.. not even worth talking about WinPointVIP {below}.

Also, have anyone heard of the WinPointVIP on eBay? I just ran across this company when looking up the resort name from Scott.

http://www.ebay.com/itm/Wyndham-Vac...858?pt=LH_DefaultDomain_0&hash=item3cfdbb9932

This company seems to be coming up with their own business timeshare model, modifying Wyndham term. The price is really not bad, but is it a deed? $4K for 250K points and $6 MF? I have to read more on this.. Interesting! Anyway, that's a different topic. Sorry!

My fear with WinPointVIP is that I would lose that front-end buy-in if Wyndham were to find a way to shut him down. Otherwise, it seems like a really good model.

 

[Richardsdeals]

By transactions, I mean when you buy or sell the contracts.

MF vary greatly.....even at the same resort. I have a contract at Pagosa that has much lower MFs that some other Pagosa contracts. And they will change......

Also, be aware of Special Assessments. When the MFs are not high enough to keep up with routine upkeep, you will have to pay Special Assessments. We just got a notice for a $900 Special Assessment due in September on a contract we have that has fairly low MFs.

The moral of the story is.....if the MF is low....you will likely end up paying more later.....at least we have.

 

[Pathways]

I own a number of Wyndham properties including Grand Desert. Grand Desert is not the cheapest, but a good middle-of-the-road Wyndham to own.

Don't put the deed in your name. Form an LLC with you as the managing partner. In my state, that takes about 30-40 minutes and less than $100 on the Sec of State website.

After the deed transfer is complete, you can then add up to seven more names to the account by just sending a letter to Wyndham, no charge to add them. All the names will show in a dropdowm box on the Wyndham account, no guest cert needed for any of those listed.

 

[Sloane S]

Don't put the deed in your name. Form an LLC with you as the managing partner. In my state, that takes about 30-40 minutes and less than $100 on the Sec of State website.

Lucky you. Here in Illinois it's $900 and an annual $250 filing fee.

 

[Family_travel]

Name on deed vs account

I own a number of Wyndham properties including Grand Desert. Grand Desert is not the cheapest, but a good middle-of-the-road Wyndham to own.

Don't put the deed in your name. Form an LLC with you as the managing partner. In my state, that takes about 30-40 minutes and less than $100 on the Sec of State website.

After the deed transfer is complete, you can then add up to seven more names to the account by just sending a letter to Wyndham, no charge to add them. All the names will show in a dropdowm box on the Wyndham account, no guest cert needed for any of those listed.

If you have additional names on the account, can multiple reservations be made at the same time? For example: Name1 (deed owner) - books Grand Desert and Name2 (not on deed) - books Smoky Mountain for the same dates.

 

[Pathways]

Not sure of your question when you specify the "(deed owner)', and "(not on deed)'

If the Wyndham ownership is an LLC, the LLC is the name on the deed. None of the individuals names on the account are listed on the deed.

Each name on the account can book at the same time, not only at different resorts, but also at the same resort. We recently had four reservations at the same resort for a family stay, all overlapping with three being the same dates exactly.



scootr5 - WOW! Our fee is 85.00 to form (+1.00 for instant access and a 2% fee to use credit card) and 20.00 every other year to file report. (the report simply verifies current info such as address -very simple online, just check the boxes)

On new purchases, the title company sometimes wants an updated LLC business report which again is 20.00 from the state. Typically if the report is less than six months old, is is acceptable. Sometimes I will spend the 20.00 and send an updated report anyway so there is no chance of delay in the deed transfer.