? about adding family member to DVC title

[dreamgirl]

How would you go about adding a family member to your DVC title so that they would have part ownership? Thank you for your help.

 

[WebmasterDoc]

You will just have to add them to your deed. There will be closing costs, as the new deed will have to be recorded with the county.

Keep in mind that if the additional person has financial difficulties/divorce in the future, their ownership of your contract could jeopardize everyone listed on the deed since that ownership might become part of the legal proceedings.

 

[lovewdw13]

I think you also have to have your loan paid off with Disney in order to change the purchasers on the membership. Check with them. Then you might be charged by the lawyer handling this and the other costs mentioned above.

 

[spiceycat]

make them an associate - they don't get the annual pass discount or the member only discount on DVC rooms - but they get everything else.

It is free.

please be aware of what Doc mentioned....

I almost make my brother my co-owner - it would have cost me around $750 to do it. and I almost did.... but I decided to just make him an associate....

so when he went through bankrupty my DVC was not even mentioned...

 

[LakeAriel]

If another person is an associate will the ownership go to them in case of death, absent a will?

 

[WebmasterDoc]

No. You with no will, the contract will just be included in your estate to be distributed according to state law unless you will instructs otherwise.

Associate members have no legal standing regarding ownership. It is more of a convenience and allows them to make reservations. They are not owners however and do not get DVC benefits or have any financial interest in the deed.