LLC question

[Mommahacker]

My daughter and her husband are considering purchasing Wyndham points. We are already platinum members. If they did and we both put them into one llc would they also have VIP privileges.

 

[Sandi Bo]

If you combine everything in one account (LLC or just by adding your name to their deed), their points will receive platinum benefits. But.. it would be one account, you would have to manage payments and reservations in that one account. You can have separate logins, but the points (and fees due) would all be in the one account.

Keep in mind, that is how things work today, and with most things Wyndham, that can change at any time.

 

[55plus]

Establishing a LLC for your timeshare ownership could be construed, with a slight stretch, as a commercial enterprise. How would Wyndham considered it and could you be hurt by doing it?

 

[PhilD41]

My parents put their points in a Wyndham Trust then added my brother and I to it. So far it has worked out well. It does mean everyone has to play nice with each other when buying more points (haven't done that yet) and booking properties. And, as has already been mentioned, it all works through one account. For us that hasn't been an issue.

 

[Pathways]

Establishing a LLC for your timeshare ownership could be construed, with a slight stretch, as a commercial enterprise

Actually, that would be more than a HUGE stretch.

How would Wyndham considered it and could you be hurt by doing it

None of the major timeshare entities have any issues with an llc

 

[John_and_Val]

What is the benefit of putting it in an LLC?

 

[Sandi Bo]

What is the benefit of putting it in an LLC?

Maybe someone who has an LLC can answer? I looked into it a bit and my accountant didn't recommend it (he was pretty neutral on the whole thing so I left things as there were/are).

 

[ecwinch]

What is the benefit of putting it in an LLC?

In theory you might be able to transfer the LLC without triggering a loss of VIP benefits. Since the LLC would remain the “owner” of the account.

Not sure if the theory has ever been fully put to the test.

It also could shield the owner from personal liability if the LLC chose to default on their maintenance dues.