Unlike Worldmark, where owners own the club and properties, owners of club Wyndham access only own the points but not the resorts.
As per the "Advise article 1" sticky on top of page:
Wyndham Resorts is owned by the stock holders of Wyndham Worldwide, Inc. (NYSE:WYN).
Unless you are a stockholder, you should not consider yourself a Wyndham owner after you acquire Wyndham points. You can, however, refer to yourself as an owner of Wyndham points.
The original purchaser of Wyndham points will have signed a vacation ownership contract agreement and an installment note if they financed the purchase through Wyndham. The contract (“Agreement”) spells out what was purchased.
In most cases what you can expect is language that specifies the specific number of points being purchased divided by the total number of points available at the specific “property regime” that is to be the “home resort.”
For example, when an original (hypothetical), retail buyer purchases 105,000 points situate at Phase IV (Tower I) at Wyndham Ocean Boulevard, North Myrtle Beach, SC the agreement should spell out in words similar to those provided below what the seller was selling and what the buyer purchased:
“…a 105,000 / 456,510,000 undivided fee simple interest in Units 951-957, 1051-1057, 1151-1157, 1251-1257, 1451-1457, 1551-1556, having a Floating Use Right (‘Property’) in Wyndham Myrtle Beach At Ocean Boulevard IV Horizontal Property Regime, hereinafter referred to as “Regime,” located in Horry County, South Carolina according to the plat…filed of record in Horry County, South Carolina, subject to all provisions contained in the recorded Declaration of Horizontal Property Regime or Master Deed applicable to the…described Property.”