Discussion in 'Purchasing DVC' started by babesboo99, Sep 26, 2013.
I was curious on what a person needs to do to become a co owner
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Do you mean on an existing contract? If so then you have to file paperwork to add to the deed. If you contact MS they can help and it costs over $500 as I recall.
But if there is a loan, that has to be paid off before you do this. From what I understand.
One can be added as an associate but you don't get the perks. Otherwise it's simply being added to the deed. It can be done for under $50 and can be had, done by someone else, for less than $150 for a single contract assuming VB or WDW. $500 for this situation is literally highway robbery.
it would be for BCV. my daughter is the purchaser but I was wondering how I would become the co owner when I call my guide tomorrow. do I just ask him
This would be something your daughter would have to initiate, I think. Your guide can tell you about the process.
Unless you plan to do an add on and can talk them into changing the deed as part of the process or buy enough points for a separate contract, I don't think your guide can help. Email MS and ask them to send you the forms and instructions, they'll forward to Member Admin who will email you the forms and info as attachments.
Sorry if I'm hi-jacking the thread but this is something that fits my immediate situation.
We just got home from a family trip (11:45 last night). We own some points at BCV but we stayed at BWV. My son-in-law wants to buy 25 points at BCV, just to get a foot in the door. 25 points is all they can afford to pay cash right now and I know the minimum for a new owner is a lot more. So he asked if we could buy a 25 point add-on but have all our names on the contract. Then they will add-on when they can afford to. We have determined that they will be getting our BCV contract when the time comes and he wants to be able to buy APs, TIW, etc, right now. They would pay the MFs on the jointly owned points.
I know this would mean we would have 2 different memberships. Other than that does anyone have any other issues that we haven't considered? Can this even be done?
You can't buy an add-on with different names on the deed. It has to be titled exactly the same as your other deed. But you could buy it and then transfer it to your SIL. You would have a different membership number and you would have to buy the minimum for a new membership (100, 160, whatever it is these days).
Thanks for the reply. This is what I was afraid of.....I guess I just got caught up in the SIL's enthusiasm, he's really enjoying the whole DVC experience. I am glad they are realistically considering what they can and cannot afford.
Can't the son in law buy 25 points via resale though? That gets them in the door as owners. Or am I misremembering?
Sure, if he can find a contract for 25 points at BCV.
This would be the rub.
Already discussed and pretty much dismissed as a virtual impossibility.
Buy it in your name retail THEN change the deed to include the SIL Not difficult and total cost less than $50 if you do it yourself. Who cares if it takes a few months to complete in this situation. Ask your guide if they'll do it but other than one time several years ago, I haven't heard anyone who was successful getting different names on less than the usual buy in amount. Since they've allowed buy ins as low as 50 pts, you could try that as well. Personally, I'd only encourage them to do this if they could pay cash and didn't have other consumer debt.
Separate names with a comma.