Adding new owners via a resale purchase

[wjappraise]

Has anyone added new owners via resale recently?

The reason for my question, is that I have done this numerous times in the past, but none for over two years now. I am in the process of attempting to do one now, and the closing company is telling me that Wyndham will not add the new names to my account, and won't add this new account to my existing one if I have new names on it. As this is contrary to my own experience, I doubt the validity of the claim. However, with the recent changes in Wyndham, perhaps I am wrong, given the fact the closing company likely has more recent experience.

Any thoughts?
Wes

 

[buckor]

Following...

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[ecwinch]

Just to understand the process, you are adding a resale contract to your existing account and in the past you have been able to concurrently add a new owner to your account at the same time?

 

[wjappraise]

I had an account with four different contracts, all in my name and my wife's name. I then purchased a resale contract and placed my wife's name, my name, and our two daughters on that deed. When Wyndham added this contract to my account, both my daughters now show as owners. I have repeated this action several times, adding my brother and sister, and parents, and cousins.

Now, I want to add two more.

From my reading, it appears that a number of members here have done the same thing. I am just wondering if any have done so since the great changes of May 2017?

Does that clarify what I am asking? Hopefully it does.

Wes

 

[spackler]

What's the minimum age to be able to be placed on a deed?

 

[ronparise]

As with any real estate, Anyone of any age can be on the deed and own the contract. At most resorts you have to be 21 to check in

As to Wes’s question. I doubt his closing company too. The way to test it is to submit the deed to Wyndham on your own

 

[wjappraise]

As to Wes’s question. I doubt his closing company too. The way to test it is to submit the deed to Wyndham on your own

I did convince the closing company to add my membership number to the paperwork they submit to Wyndham. They are doing so with reservation, making me assume liability if Wyndham doesn't accept it this way. When I asked if they have experienced denials of such recently, I got no response.

Still waiting to see if anyone has added additional owners to current accounts via resale deeds with additional names. . . recently.

Wes

 

[capital city]

I've got one being processed now, hopefully will know within the next 30 days. I've added my 2 kids to this one with myself, wife, and parents on our account now.

 

[CruiseGuy]

Watching this as this was something I was considering, buying a small resale contract to get a family member added to my account.

 

[markb53]

I had an account with four different contracts, all in my name and my wife's name. I then purchased a resale contract and placed my wife's name, my name, and our two daughters on that deed. When Wyndham added this contract to my account, both my daughters now show as owners. I have repeated this action several times, adding my brother and sister, and parents, and cousins.

Now, I want to add two more.

From my reading, it appears that a number of members here have done the same thing. I am just wondering if any have done so since the great changes of May 2017?

Does that clarify what I am asking? Hopefully it does.

Wes

Is there a limit to the number of owners you can have on an account. Seems like I remember seeing that on a thread at some point

 

[bendadin]

I couldn't get the closing company to allow my underage children onto a contract. But they did just record the deed with four of my adult children and my mother in law, as well as my husband and myself. So we shall see what happens.

 

[skotrla]

I couldn't get the closing company to allow my underage children onto a contract. But they did just record the deed with four of my adult children and my mother in law, as well as my husband and myself. So we shall see what happens.

A lot of closing companies require a notarized POA even though it's not really necessary - can a minor get a document notarized?

-Scott

 

[jebloomquist]

I am currently in the process of adding an additional name to my account using a resale contract. The closing company is Vacation Properties for Less, LLC. There has been no discussion that this will not be accepted by Wyndham, but it will probably take a few months before I find out.

Jim

 

[ronparise]

And if they do create a new account call owner care and get them to put iit in the correct account

 

[skotrla]

And if they do create a new account call owner care and get them to put iit in the correct account

I think that was part of the question - has Wyndham changed policies to no longer allow contracts with different combinations of owners in the same account since May 2017 as the closing company suggested (which we all suspect is wrong).

-Scott

 

[ronparise]

I think that was part of the question - has Wyndham changed policies to no longer allow contracts with different combinations of owners in the same account since May 2017 as the closing company suggested (which we all suspect is wrong).

-Scott

Exactly right we don't know. It has to be tested. I'm suggesting the steps I would take

 

[EverLearn]

When adding people to your account through Resales can you have say Husband and wife on one contract and Husband and adult child on another? Or what would be the best way to handle adding names for the lowest cost on transfer and least hassle?

 

[Braindead]

When adding people to your account through Resales can you have say Husband and wife on one contract and Husband and adult child on another? Or what would be the best way to handle adding names for the lowest cost on transfer and least hassle?

Yes you could in the past. But that’s the question at hand right now.
Can you still do it? We will have to wait for another resale contract to close adding new owners to get an answer on what’s possible now.
I’m in Rons camp if they start a new account just have them merged unless Wyndham stops merging resale accounts that don’t have all the same owners in both accounts.

 

[Braindead]

Or what would be the best way to handle adding names for the lowest cost on transfer and least hassle?

If your wanting to add an adult child as an owner and don’t want to buy anymore points.
Call Wyndham Ovation and inquire about the Tribute program on adding your adult child to your existing contract.
If you can’t do it that way I would recommend using LT Transfer to add your child to your existing contract.

 

[capital city]

If your wanting to add an adult child as an owner and don’t want to buy anymore points.
Call Wyndham Ovation and inquire about the Tribute program on adding your adult child to your existing contract.
If you can’t do it that way I would recommend using LT Transfer to add your child to your existing contract.

Not a bad idea if you only have 1 or 2 big contracts but could you imagine the spreadsheets if you have multiple small contracts

 

[Jan M.]

Not a bad idea if you only have 1 or 2 big contracts but could you imagine the spreadsheets if you have multiple small contracts

I'm guessing you are teasing about the spreadsheets. However there are plenty of people who have quite a few deeds/contracts in their account with various different family members on them. Some people add a deed/contract of approximately the same size for each one of their adult children so each child has their own block of points to vacation with every year. I don't know if all those deeds have both dad and mom on them in addition to the adult child's or if they add the child's spouse too. I know of someone who is on the account with his parents and has added additional deeds/contracts in only his and his wife's names to the account. His parents purchased developer and the deeds/contracts he has added are resale. I don't know if he has added anything recently.

I don't see how Wyndham can tell you that you cannot add your own immediate family. Children, parents, siblings. There could however be a point where they say you have to set up a family trust to have that many people on the account. But I do know that resellers and closing companies sometimes don't want to be bothered with all the paperwork and time delays to get everyone signing everything. They will tell you they will only put you and your spouse on and you will have to add anyone else later after you become the owner.

Wes has had problems with his account since the new website and was one of the people frozen. In his case it could be that Wyndham is singling him out or they could be saying we aren't going to do anything that screws up your account anymore than it already is. We had one owner who was told he couldn't have more than 10 deeds or contracts in his account and he was forced to get rid of several. He keep bringing this up for months and no one else ever posted that they had been told the same thing or were made to get rid of some deeds/contract to comply.

 

[ronparise]

But I do know that resellers and closing companies sometimes don't want to be bothered with all the paperwork and time delays to get everyone signing everything. They will tell you they will only put you and your spouse on and you will have to add anyone else later after you become the owner.

/QUOTE]

In most places the buyers dont have to sign anything

 

[CruiseGuy]

I know it hasn't been that long, but any updates? Has anyone had a resale purchase added by Wyndham where they let a new person be named on the deed and added to an existing account?

 

[tschwa2]

If your wanting to add an adult child as an owner and don’t want to buy anymore points.
Call Wyndham Ovation and inquire about the Tribute program on adding your adult child to your existing contract.
If you can’t do it that way I would recommend using LT Transfer to add your child to your existing contract.

I don't think owners qualify for Tribute unless they are removing their own names and changing it into the names of other qualified family members. I have heard that for example divorce when removing a spouse whether adding an adult child along with the name removal or just the name removal does not qualify for tribute.

 

[wjappraise]

I know it hasn't been that long, but any updates? Has anyone had a resale purchase added by Wyndham where they let a new person be named on the deed and added to an existing account?

I’ve got one in the process. Should know soon.