Description vs Deed

[dxCoqui]

So I am in the process of closing on a Wyndham Pagosa resale which was for 182k points. I received today the deed and the description says:

TOGETHER with a vested remainder over in fee simple absolute, as tenant in common with the other owners of all Lot Weeks in the hereafter described lot in Eagle’s Loft in that percentage interest determined and established by said Declaration for the following described real estate located in the County of Archuleta and State of Colorado, as follows:
Building Number(s) 19, Lot (Unit) Number 19, Lot (Unit) Week(s) Number(s) 30
of Eagle’s Loft Phase 3 as recorded under Reception No. xxxxxx, subject to Declaration of Individual and or Interval Ownership for Eagle’s Loft recorded under Reception No. xxxxxx, and in Book 200 at page 834 et seq. and amendments and supplements thereto, in the Office of the County Clerk and Recorder in and for Archuleta, County, Colorado,

Notice how it does not say anything about points, but mentions a specific week. Is this normal? I would expect it to say something related to points. I have them looking into this. I am hesitant to sign anything at this point. What do you guys think?

PS - Here is the original description from ebay:

http://www.ebay.com/itm/300745299374?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649

 

[learnalot]

So I am in the process of closing on a Wyndham Pagosa resale which was for 182k points. I received today the deed and the description says:

TOGETHER with a vested remainder over in fee simple absolute, as tenant in common with the other owners of all Lot Weeks in the hereafter described lot in Eagle’s Loft in that percentage interest determined and established by said Declaration for the following described real estate located in the County of Archuleta and State of Colorado, as follows:
Building Number(s) 19, Lot (Unit) Number 19, Lot (Unit) Week(s) Number(s) 30
of Eagle’s Loft Phase 3 as recorded under Reception No. xxxxxx, subject to Declaration of Individual and or Interval Ownership for Eagle’s Loft recorded under Reception No. xxxxxx, and in Book 200 at page 834 et seq. and amendments and supplements thereto, in the Office of the County Clerk and Recorder in and for Archuleta, County, Colorado,

Notice how it does not say anything about points, but mentions a specific week. Is this normal? I would expect it to say something related to points. I have them looking into this. I am hesitant to sign anything at this point. What do you guys think?

PS - Here is the original description from ebay:

http://www.ebay.com/itm/300745299374?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649

Is that all it says? What I remember from our deeds is that there is an underlying property named but I also seem to recall the points being mentioned elsewhere.

 

[rrlongwell]

So I am in the process of closing on a Wyndham Pagosa resale which was for 182k points. I received today the deed and the description says:

TOGETHER with a vested remainder over in fee simple absolute, as tenant in common with the other owners of all Lot Weeks in the hereafter described lot in Eagle’s Loft in that percentage interest determined and established by said Declaration for the following described real estate located in the County of Archuleta and State of Colorado, as follows:
Building Number(s) 19, Lot (Unit) Number 19, Lot (Unit) Week(s) Number(s) 30
of Eagle’s Loft Phase 3 as recorded under Reception No. xxxxxx, subject to Declaration of Individual and or Interval Ownership for Eagle’s Loft recorded under Reception No. xxxxxx, and in Book 200 at page 834 et seq. and amendments and supplements thereto, in the Office of the County Clerk and Recorder in and for Archuleta, County, Colorado,

Notice how it does not say anything about points, but mentions a specific week. Is this normal? I would expect it to say something related to points. I have them looking into this. I am hesitant to sign anything at this point. What do you guys think?

PS - Here is the original description from ebay:

http://www.ebay.com/itm/300745299374?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1439.l2649

Congratulations, it appears you trusted a E-Bay re-seller. I checked one of my points based deed properties and it does, in fact, make reference to the number of points. I think what you may have been sold was a fixed week. It may have been converted to points. Wether or not the point conversion is still in place, who knows. I believe Wyndham has the right to cancel the point conversion for late maintance fee payments. You may want to insure that the point conversion will pass with the transfer of ownership, if that is what this is. Also, if this is a converted fixed week, you ARP rights would be limited to the underlying week.

 

[antjmar]

Is that all it says? What I remember from our deeds is that there is an underlying property named but I also seem to recall the points being mentioned elsewhere.

My converted fixed weeks deed looks similar to yours. I think a call to Wyndham will verify if the owner "coverted" to points or not.

 

[dxCoqui]

Is that all it says? What I remember from our deeds is that there is an underlying property named but I also seem to recall the points being mentioned elsewhere.

There is a more legal stuff, but nothing about the points. The closing agent said that the connection is in the estoppel letter where you can see the contract number for the points and the deed also should have the contract number. Right now I am waiting for the estoppel letter before I sign anything, Wyndham sent the wrong letter since the seller has 2 contracts with them. Once I see the connection I will sign...I'll keep you posted...

 

[antjmar]

The closing agent said that the connection is in the estoppel letter where you can see the contract number for the points and the deed also should have the contract number.

That is correct I think you are fine.
FYI, you probably already know this but for ARP you can only reserve whats listed on the deed (week 30 unit x).

 

[dxCoqui]

My converted fixed weeks deed looks similar to yours. I think a call to Wyndham will verify if the owner "coverted" to points or not.

I will contact the closing agent to do this...

 

[justmeinflorida]

Looking over my deed just now shows it the same as yours as well. I purchased a fixed week, converted to points.

 

[dxCoqui]

I will contact the closing agent to do this...

I have all the necessary info to call Wyndham owner services. Since you guys have a lot of experience would you tell me what to ask for so I don't miss anything?

Thanks,

 

[ronparise]

I own Wyndham weeks (unconverted) Wyndham converted fixed weeks and wyndham udi deeds, and Club Wyndham access. Ive seen it all, and for a converted fixed week what you are seeing is normal

Relax and when you get your points enjoy.

I am sure you are buying a converted fixed week. A previous owner paid Wyndham to convert this to points

Either your seller can provide the estoppel or you can call Wyndham's transfer dept to confirm

the fact that the seller says they are billed monthly for the maintenance fee is really good clue that this has been converted to points

 

[dxCoqui]

An Update,

All my worries were unfounded. You guys were right, the estoppel letter described a fixed week converted to points and it does mentioned the specifics of the unit as it is in the deed. Now to wait for them to send all the paperwork to Wyndham...One step closer...

 

[bnoble]

As Ron notes, for a converted fixed week, no points are mentioned on the deed---because the deeded property existed before "points" did. There is a separate contract that the "converting owner" signs, assigning rights to the week to the VOA Trust, and in exchange being granted some number of points. When I bought my converted fixed week, I was given a copy of the disclosure/signature page, but I'm guessing that many owners do not retain that and/or it does not get passed along through the PCC process.