 |  | | | |  | |  |  | WARNING! New Trendwest (Worldmark) policy could cost you big |  | |  |  | |
 Posted: Fri 10 Dec 2004 9:29 am |
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| PA- |
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| Joined: 09 Dec 2003 |
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If you ever intend to buy Worldmark credits from a private party or reseller (not from the developer), please read on.
Trendwest has just made a modification to their transfer paperwork. They added a single line to the agreement, which reads:
By initialing here (Initials:_______ ______), Owner elects the Premier Ownership option, and Trendwest agrees to waive the additional fee of $3500.
So if you purchase a premier contract, but miss that little detail, you will get a standard contract that expires in 40 years.
I don't know what Trendwest thinks they gain. Anybody who gets hosed, and catches it later, will call up screaming, and they'll have to change it. I suppose what they're hoping is that the owner will never notice it, and when their heirs (or whoever gets it from those owners) finds out 40 years from now, Trendwest can just say "that's what the owner had, sorry". |
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| Posted: Fri 10 Dec 2004 11:12 am |
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| PerryM |
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| Joined: 11 Dec 2003 |
| Location: St. Louis, MO |
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Is this the first step towards charging $3,500 to transfer ownerships between private individuals?
This sounds like a great question to ask the Big Whigs at TW/WM – they never answer my questions.
Perry |
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| Posted: Fri 10 Dec 2004 11:34 am |
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| Joined: 07 Dec 2003 |
| Location: Eugene OR Pic Oahu Hawaii |
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| PerryM wrote: | Is this the first step towards charging $3,500 to transfer ownerships between private individuals?
This sounds like a great question to ask the Big Whigs at TW/WM – they never answer my questions.
Perry |
Well, I'm not going to express HOW I FEEL ABOUT THIS TURN OF EVENTS, CAUSE I'D PROBABLY GET DELETED, BUT IT REALLY SUCKS!!!! 
Perry have you submitted questions to the "Answer Place" on the TW/WM forum and not had them answered?  |
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ASSIGN YOUR WM PROXY TO WM OWNERS, INC. HERE
I SUPPORT MARCI TRIBE
Nena,WM Owner since2000 Beary Girl
Kappa Shores Gleneden x7 Surfside Coral Baja x4 Seaside x20 Depoe Bay x 10, Birch Bay x3 Camlin x5 Leavenworth Victoria Discovery Bay x2 Canadian Angels Camp Solvang Pismo Beach Kehei Indio Eagle Crest RV Long Beach Other: Disney Old Key West SunRiver Oahu Kona, Embarcadero, Schooners Landing UpComing: 2011 Coral Baja, Camlin |
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| Posted: Fri 10 Dec 2004 11:58 am |
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| PerryM |
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| Joined: 11 Dec 2003 |
| Location: St. Louis, MO |
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Yes, I asked about the Park Regency in Park City, UT and have had no answer. The Park Regency was listed on the Internet under "resorts" but was deleted.
Perry |
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| Posted: Fri 10 Dec 2004 12:00 pm |
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| Joined: 07 Dec 2003 |
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| PerryM wrote: | Yes, I asked about the Park Regency in Park City, UT and have had no answer. The Park Regency was listed on the Internet under "resorts" but was deleted.
Perry |
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_________________
ASSIGN YOUR WM PROXY TO WM OWNERS, INC. HERE
I SUPPORT MARCI TRIBE
Nena,WM Owner since2000 Beary Girl
Kappa Shores Gleneden x7 Surfside Coral Baja x4 Seaside x20 Depoe Bay x 10, Birch Bay x3 Camlin x5 Leavenworth Victoria Discovery Bay x2 Canadian Angels Camp Solvang Pismo Beach Kehei Indio Eagle Crest RV Long Beach Other: Disney Old Key West SunRiver Oahu Kona, Embarcadero, Schooners Landing UpComing: 2011 Coral Baja, Camlin |
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| | | | | | | | | Re: WARNING! New Trendwest (Worldmark) policy could cost you | | | | | |
| Posted: Fri 10 Dec 2004 12:18 pm |
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| Flash |
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| Joined: 09 Dec 2003 |
| Location: Sacramento |
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| PA wrote: | If you ever intend to buy Worldmark credits from a private party or reseller (not from the developer), please read on.
Trendwest has just made a modification to their transfer paperwork. They added a single line to the agreement, which reads:
By initialing here (Initials:_______ ______), Owner elects the Premier Ownership option, and Trendwest agrees to waive the additional fee of $3500.
So if you purchase a premier contract, but miss that little detail, you will get a standard contract that expires in 40 years.
I don't know what Trendwest thinks they gain. Anybody who gets hosed, and catches it later, will call up screaming, and they'll have to change it. I suppose what they're hoping is that the owner will never notice it, and when their heirs (or whoever gets it from those owners) finds out 40 years from now, Trendwest can just say "that's what the owner had, sorry". |
So when does this go into effect?
flash |
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Angels Camp, Bass Lake (2), Clear Lake (2),Lake Tahoe II, Lake Tahoe III (3), South Shore (2), Anaheim Affiliate, FF Smoky Mountains. Marina Dunes |
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| Posted: Fri 10 Dec 2004 12:25 pm |
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| PA- |
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| Joined: 09 Dec 2003 |
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| PerryM wrote: | Is this the first step towards charging $3,500 to transfer ownerships between private individuals?
That was my first thought. And I strongly believe the answer is YES
This sounds like a great question to ask the Big Whigs at TW/WM – they never answer my questions.
They won't answer on the tw4m, as this only involves resales, which they don't want to discuss
Perry |
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| | | | | | | | | Re: WARNING! New Trendwest (Worldmark) policy could cost you | | | | | |
| Posted: Fri 10 Dec 2004 12:26 pm |
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| TopCat1234 |
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| Joined: 17 Apr 2004 |
| Location: Apollo Beach, FL |
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| PA wrote: |
So if you purchase a premier contract, but miss that little detail, you will get a standard contract that expires in 40 years. |
I don't understand how the nature of the credits change because they are resold? If one has a premier ownership and sells it, it should be still be a premier ownership, correct? I'm sure the seller is advertising it as such, so how can Trendwest change it? Isn't that against the by-laws in some way?
TopCat |
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| | | | | | | | | Re: WARNING! New Trendwest (Worldmark) policy could cost you | | | | | |
| Posted: Fri 10 Dec 2004 12:48 pm |
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| PA- |
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| Joined: 09 Dec 2003 |
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| TopCat1234 wrote: | | PA wrote: |
So if you purchase a premier contract, but miss that little detail, you will get a standard contract that expires in 40 years. |
I don't understand how the nature of the credits change because they are resold? If one has a premier ownership and sells it, it should be still be a premier ownership, correct? I'm sure the seller is advertising it as such, so how can Trendwest change it? Isn't that against the by-laws in some way?
TopCat |
That's the way it was in the past. It appears that has changed. Now, a premier account, upon resale, is still a premier account IF the buyer notices, and initials the appropriate box. Otherwise not.
As for against the by-laws? Who knows. Trendwest can make the rules, since they have the controlling votes. Feel free to take them to court, if you want. It probably won't cost more than a few hundred thousand dollars. |
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| | | | | | | | | $3500 fee | | | | | |
| Posted: Fri 10 Dec 2004 1:27 pm |
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| sultan_sfo |
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| Joined: 02 Mar 2004 |
| Location: San Francisco |
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When one buys NEW credits, one buys from TW and the money goes to TW. TW can do whatever it wants without informing WM. That clause, if it is meant to apply to resales, is flawed in the first place because it is TW that is waiving the fee and it does not state anything about WM waiving the fees! However, when one buys or sells on resales, no money goes to TW and it is purely a WM transaction. $150 is now charged for the transfer. If they change that fee, WM members have to be informed.
Again, I remind everyone (including all TW/WM lurkers), that, IMHO, there are strict conflict of interest laws. IF WM BOD does not protect the interests of WM owners, we will sue the WM BOD. Many attorneys will jump to take the case on a contingency basis as a class action case. /Sultan |
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| Posted: Fri 10 Dec 2004 1:39 pm |
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| PA- |
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| Joined: 09 Dec 2003 |
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| It appears this may be a false alarm. According to Owner Services, whenever you do a split or combine transfer, you get a copy of the original contract. Apparently, this contract I got had this clause in it initially, but is not used anymore. Sorry for the uproar. |
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