Worldmark Points upon death of both owners

[Rsauer3473]

Trying to help out my son here. His wife's mother passed away in July and her father passed this last week. They owned jointly Worldmark points and owe about $50,000. Neither of two daughters want the ownership which is not mentioned in the will that was drafted many years ago.

I suggested they send copies of death certificates and notarized statements from daughters indicating refusal to accept ownership. I also suggested that no payments be made.

Other ideas? We own Disney and Vistana but not Worldmark.

 

[ronparise]

What you suggest makes sense but I would talk to the estate's attorney

 

[ronparise]

Another thought

How many credits did they own?

Worldmark loans can be assumed. Credits are worth about 30 cents each. So if the loan is less than that, the estate may own something of value

 

[bogey21]

I suggested they send copies of death certificates and notarized statements from daughters indicating refusal to accept ownership. I also suggested that no payments be made.

Going on record with Worldmark makes sense to me. Daughters may also have to decline inheritance as the Estate(s) are being settled.

George

 

[sue1947]

Worldmark is a good system, and the loans are assumable, but not $50,000 worth. Refuse it and, if interested, they can buy resale without taking on that huge debt. There is value in WM, but not That much for any timeshare.

Sue

 

[ronparise]

Worldmark is a good system, and the loans are assumable, but not $50,000 worth. Refuse it and, if interested, they can buy resale without taking on that huge debt. There is value in WM, but not That much for any timeshare.

Sue

A $50000 Worldmark loan is assumable Whether it makes any sense to assume a $50000 loan or not depends on how many credits there are. I'm saying that if they have 150000 credits or more than the estate has something of value

I'm not suggesting that the heirs take ownership and assume the loan. I'm suggesting that if its worth more than 50k the estate should sell it, rather than giving it back to Wyndham