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Old 10-16-2013, 01:19 AM   #1
Jenn504
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is important for both of us to be on title to get benefits

I am about to become a new dvc owner a BLT. I just got the contract emailed yesterday. I have a question, I was just going to put my name on it instead of my husband and I. At first I didn't think it was a big deal, but now I am thinking we should both be on it for membership paperwork, if his name is not in title does he he still get full benefits of ownership to since we are married.This is all moving pretty fast, I made an offer on Monday. It got accepted I have a contract, the seller has already signed. I don't mind making them resign to add my husband's name just wondering if it is better for him to be on it. My husband won't be home til next Sunday, he works two weeks on two weeks off up on north slope, it would be hard to get papers to him to sign, so everything would be on hold, till next Sunday if I added him. Any one have opinions if I should add him or not a big deal. We do plan to buy at poly as soon as available and maybe a small 25-40 point add on at BLT in next year.
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Old 10-16-2013, 04:57 AM   #2
Annielkd22222
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Originally Posted by Jenn504 View Post
I am about to become a new dvc owner a BLT. I just got the contract emailed yesterday. I have a question, I was just going to put my name on it instead of my husband and I. At first I didn't think it was a big deal, but now I am thinking we should both be on it for membership paperwork, if his name is not in title does he he still get full benefits of ownership to since we are married.This is all moving pretty fast, I made an offer on Monday. It got accepted I have a contract, the seller has already signed. I don't mind making them resign to add my husband's name just wondering if it is better for him to be on it. My husband won't be home til next Sunday, he works two weeks on two weeks off up on north slope, it would be hard to get papers to him to sign, so everything would be on hold, till next Sunday if I added him. Any one have opinions if I should add him or not a big deal. We do plan to buy at poly as soon as available and maybe a small 25-40 point add on at BLT in next year.
I don't know this for a fact, but I have always done everything myself. Even when I make reservations online, they only have my information and I need to type in his by hand anyhow. I think it would have been easier for us if it was just in my name. All the perks are the same. I just sold mine yesterday, and I had to wait for him to get home for his signature, otherwise it would have been done by now . Plus, it will effect credit history ( either negatively or positively depending on if you paid in cash). I think if you are going to do the work....then one name is sufficient, he can go online with your password anyway.
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Old 10-16-2013, 05:23 AM   #3
rlovew
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If he will ever go without you and wants any of the DVC privileges such as pricing on APs, pool hopping, or discounts then you want him on the membership. While the DVC pricing on passes is allowed for everyone in the household normally the member has to be there to okay it. Also when you go to any previews or special events the member must be there- if you think he might ever want to do any of these things and you won't be with him for some reason that would be a reason to put him on.

He will not get any of the member benefits if he is not a member other than those that extend to the household and then only when you are with him. You will not be able to add him to a small membership from DVC without first changing the paperwork on this contract if he does want to be a member. Also if something was to happen to you and he is not on the paperwork your will shows what happens to the membership but if you are both on with joint survivorship then if something happened to you he would just need to follow instructions with MS to have things taken care of- much easier then if it is all in your name.
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Old 10-16-2013, 09:29 AM   #4
sndral
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Have you asked your broker if you can just add him when it comes time to sign the closing documents? Full disclosure, I'm putting my adult son on my title if we pass ROFR and my broker wanted him to sign the offer as well, but I'm not sure that's legally required. If you were financing that would be different but on an all cash purchase I'd think how you chose to hold title is up to you.
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Old 10-16-2013, 11:07 AM   #5
hardis5
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Someone may be able to add but if wanting to add another resort under both names in the future, I believe you could not unless the owners on title are identical and the UY the same.

Personally, if no financial implications of not having both listed on the sale, I would think easier given (heaven forbid) something happens to someone on the deeded title. That is the reason so many put their partner or kids on title as well. Makes it a little harder initially and if selling, but easier if needing to settle and estate.

Signing documents was not an issue for us - we saw no original documents as all was emailed and scanned back up until the final closing documents.

As sndral said, ask your broker the question of what can be done if wanting to do.
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Old 10-16-2013, 11:08 AM   #6
disneynutz


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Quote:
Originally Posted by Jenn504 View Post
I am about to become a new dvc owner a BLT. I just got the contract emailed yesterday. I have a question, I was just going to put my name on it instead of my husband and I. At first I didn't think it was a big deal, but now I am thinking we should both be on it for membership paperwork, if his name is not in title does he he still get full benefits of ownership to since we are married.This is all moving pretty fast, I made an offer on Monday. It got accepted I have a contract, the seller has already signed. I don't mind making them resign to add my husband's name just wondering if it is better for him to be on it. My husband won't be home til next Sunday, he works two weeks on two weeks off up on north slope, it would be hard to get papers to him to sign, so everything would be on hold, till next Sunday if I added him. Any one have opinions if I should add him or not a big deal. We do plan to buy at poly as soon as available and maybe a small 25-40 point add on at BLT in next year.
Add him for membership benefits and estate planning purposes.

Bill
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