Worldmark Ownership nuances

[uscav8r]

I am considering a Worldmark resale purchase to augment my current WVO account in order to gain access to more West Coast locations. I do have a questions regarding "ownership."

Normally a worldmark membership cannot be owned by a business, but by family members (residing under the same roof?) or a Trust. Can I include other family members (i.e., brother, mom, uncle) not living with me as "owners?"

I have also heard that one can have "authorized users" as well. Does the reservation system consider these "owners" as opposed to "guests?"

I am also hoping that any future changes to the Authorized User list does not trigger the $299 tansfer fee.

I have an old 2005 Handbook in PDF form, but I have not been able to find this specific info.

 

[ronparise]

For me the big reason to have multiple owners in Wyndham is to avoid the need for $99 guest certs. World mark doesn't charge for a guest. SoI don't see the need for multiple owners except for estate planning purposes

 

[uscav8r]

As far as I can tell, the only distinction between owners and guests is when it comes to close in Bonus Time reservations. I think owners can make BT reservations at 14 days vice 5 days for guests. Is that a big deal? Likely not, but I want to make sure I am not missing anything else.

 

[benyu2010]

More names on the account, more get exposed to liabilities.

 

[Rent_Share]

So I don't see the need for multiple owners except for estate planning purposes

IMHO estate planning should call for the minimum owners to allow for a walk away or a transfer IF desired.

I am not sure of your source that an account must be in the name of a Natural Person as opposed to a LLC or Trust

The restriction on Bonus time for guests would be the only limitation I am aware of, however I would not make a purchase based on finding bonus time at 5 or 14 days

 

[cotraveller]

As far as I can tell, the only distinction between owners and guests is when it comes to close in Bonus Time reservations. I think owners can make BT reservations at 14 days vice 5 days for guests. Is that a big deal? Likely not, but I want to make sure I am not missing anything else.

An owner can make and cancel reservations. For a guest to be able to do that you would need to give them your owner number and password to log in to the online reservation system. You can also fill out a form that lets them make reservations via phone. In both cases if they were making reservations for themselves they would have to list their name as a guest and would be subject the guest rules. In the case of any damage to the unit by a guest, you, as the owner, would be responsible for any cost of repair.

As far as I know, a business can be an owner as can a trust. In those cases you would have to designate who was authorized to make and use reservations. If it is a critical issue to you call the WorldMark vacation planning center before you buy and talk to Owner Services. They should be able to answer those type of questions.

 

[uscav8r]

The BT distinction to me is trivial. I just wanted to make sure there weren't some other quirks or fees for other family to use a reservation (which I would make for them). Sounds like there aren't. I'm used to the somewhat involved fee structure of Wyndham, and Worldmark seems quite the opposite.