Membership Certificate or Deed with Worldmark?

[3144]

I am in the process of closing a purchase of Worldmark points. In the confirmation of owner ship filled out by the closing company, in the ownership information section, the Membership Certificate line is checked, not the Deeded line.

Is Worldmark a deeded ownership? Or a Membership? Is there a difference? The form has a line for Right to Use and UDI contract, both of which are BLANK.
Do I have any reason to be concerned?

 

[melschey]

I am in the process of closing a purchase of Worldmark points. In the confirmation of owner ship filled out by the closing company, in the ownership information section, the Membership Certificate line is checked, not the Deeded line.

Is Worldmark a deeded ownership? Or a Membership? Is there a difference? The form has a line for Right to Use and UDI contract, both of which are BLANK.
Do I have any reason to be concerned?

WM owners do not get a deed, however this does not concern me because the properties are deeded to WM the club and are free and clear. You in effect own a small part of every WM resort.

 

[vemmajhose]

Do these expire?

Is worldmark a lifetime willable entity or does it expire? May be a silly question....
Jill

 

[ladycody]

Worldmark Premium credits exist in perpetuity...so you can will them...there are no expirations on them. The standard ownership has an expiration (although I know of nobody that's ever seen an elusive "standard" membership. As long as what you're buying is "premier"...it wont expire.

 

[3144]

Thank You!

Thanks for the Info! It was about what I suspected. Incidentally, my disclosure paper doesn't use the word "Premier", but shows ownership as "Perpetual". So I assume it's a Premier.

Any thing new on the rumor that they were going to limit the priveleges of those of us who join by aquiring a membership via resale?

 

[DenMar]

Thanks for the Info! It was about what I suspected. Incidentally, my disclosure paper doesn't use the word "Premier", but shows ownership as "Perpetual". So I assume it's a Premier.

Any thing new on the rumor that they were going to limit the priveleges of those of us who join by aquiring a membership via resale?

That is just a "scare" tactic used by saleman. A member of the BOD confirmed that this rumor is not true.