FREQUENTLY ASKED QUESTIONS
ABOUT A PERENNIAL VACATION CLUB MEMBERSHIP

Q: Is this Membership deeded?
A: The Club holds deeds to unencumbered Fee Title to all Club units required to support all Memberships sold. Your Membership certificate is evidence of your ownership interest in all Club units, as well as all other Club assets.

Q: What if I can’t use my week in a given year?
A: Several options exist. You may wish to give it to a guest, rent it, or use your Club’s "World Bank". Other options include donating it to a charitable organization or if you are a business person with employees you could use it as a company incentive.

Q: What is the Club's "World Bank" program?
A: World Banking allows you to save your week and use it during the following calendar year period. A Banking Fee of $149.00 currently applies. World Banking your week must be completed by December 31st. Some restrictions may apply. Refer to the Reservation Guidelines for further information. Accrual members do not have the option to World Bank unused weeks.

Q: Will the Club sell my unit or rent it for me?
A: Although your Club does not operate a resale or rental program, you are able to sell or rent your week yourself or engage the services of a resale or rental broker. In the event you should sell your Membership, your Club will prepare all the transfer documents for the transfer. The processing fee is currently $100.00

Q: Will my Dues Assessments ever increase?
A: In a word… Probably. Over time the cost of everything increases. Some of you may recall 15¢ gasoline. However, since your Club is Member owned and managed, the Dues Assessments are always held to the minimum required to operate your Club and maintain your vacation facilities. The Board of Directors (who must all be Club Members) establish the Annual Dues Assessments. A vote of the Membership is required if they exceed limits specified in the Bylaws.

Q: You said I may sell or rent my Membership. May I leave it in my Will to my heirs?
A: Most certainly, your Membership is in perpetuity. (A fancy name meaning forever.)

Q: Is the interest on my Purchaser Contract or Real Estate Taxes, tax deductible?
A: Possibly, but check with your tax advisor first.

Q: When will the exchange company send my resort directory?
A: Your club submits your exchange company application during the two week processing period. The exchange company informs us you should expect their information within 60-90 days after receipt of your application.

Q: So I have to pay an Annual Dues Assessment?
A: Correct, Dues Assessments are invoiced at the beginning of your Club’s fiscal year (October 1st). This invoice is for the next usage year beginning January 1st. Dues Assessments are payable within 15 days of mailing of the invoice. Although a Late Fee could be imposed after that time, your Club has not found it necessary and currently waits until January 1st before adding a Late Fee.

Q: My Membership specifies an occupancy limit (i.e. 2, 4, or 6 persons). Do you count children in this limitation?
A: Yes, due to fire regulations, Club Bylaws and sleeping configurations, the occupancy limit is the total of overnight occupancy. Daytime visitors are certainly permitted.

Q: May I use additional weeks or days beyond my regular "use week"?
A: Yes, this is called Member Rental and special discounted rates apply. (Daily rates are also available.) However, so we do not disappoint other Members wishing to utilize their regular week, we do have guidelines on how far in advance rentals can be made. Keep in mind, however, during less popular travel periods earlier requests are accepted, sometimes up to 4 months before travel.

Q: What if I need to reserve a larger unit in a particular year?
A: This can be done. However, not to disappoint Members owning a larger size Membership, there are guidelines on how far in advance they can be done. Currently, upgrade fees are $100 per bedroom per week plus room tax. During less popular travel periods, upgrades can be reserved further in advance. An exception, if your Club does not own your size unit at a Home Resort location, you are automatically upgraded to the next size unit at no cost. Weeks you intend to exchange are not granted this upgrade exception.

Q: Must I wait until January 1st to book a particular year’s week?
A: No, you may reserve your regular week up to one year in advance of your desired week.

Q: As a Member, do I have access to all Club resorts during any week?
A: Yes, with only one exception. Christmas and New Year’s Weeks at Lake Tahoe are available, first, to Gold Memberships. This restriction does not apply to any of the other Home Resort locations. Gold Memberships have been "sold out" for years. If gold weeks at Lake Tahoe are not reserved twenty-one days prior, they are made available to all Members!

Q: How could my actions result in loss of my Membership?
A: Only two ways. Non-payment of your purchase contract or your Annual Dues Assessments.