they would legally own it and it could be at risk for divorce, financials, etc. The perks, exchanges would be the main reasons.If I bite the bullet and start this buying DVC business does anyone have any thoughts about who's names should be on the deed? In my case I have 1 adult child, any reason to put him on the title, any reason not to?
If I just put my name on the deed would my immediate household people (family) be able to get annual pass discounts, food discounts and merchandise discounts when at Disney ?
There is myself, my wife and three children ages 5,11,14. Do they get the discounts if they are not on the deed ?
Well, your children couldn't be on the deed, as minors can't own real estate. But yes, immediate family living at your address can get the AP discount.
I believe the food and merchandise discounts may require the DVC member card, so you would have to be present in order to use the discount if you were the only one on the deed.
I believe the food and merchandise discounts may require the DVC member card, so you would have to be present in order to use the discount if you were the only one on the deed.
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This is correct as it happened to us this December. My daughter was purchasing some merchandise and I had to present my DVC member card to get the discount. She could not get the discount without my presence.
I will be new to the DVC once everything goes through. My question is, what type of discounts do members get? are they good enough for me to put my eldest daughter on the deed
Technically he would not qualify for the pass discounts even now. Adding him would change that and make his family (as defined by DVC) qualify as well.Mmm, this is news to me. He lives in his own household (and has a different last name) and at some pt. he'll hopefully marry and have children, so it might be better to have him on the deed so that he and his theoretical future immediate family would have access to any discounts available.
For the OP, are you sure you don't want to have your wife as the second deed owner?
Could it be inconvenient for her to not be on it? Will she be able to call and make or cancel reservations....be able to check in if you are busy with the kids etc. ?
My husband passed away unexpectedly last year at the age of 49. We have a long-time Worldmark the Club, by Wyndham timeshare ownership and I was not on the deed. (long story) Several months later, and I'm still not on the deed. It has been a pain. It had to be run through probate process, I have to pay a large fee for "change of ownership", use an attorney to file paper work etc. In the mean time my kids and I haven't been able to use any points or take our usual vacations or getaways.
At least make sure it would be an easy process for her to become the owner, if something were to happen to you. I know it's not what anyone wants to think about, but unfortunately bad things happen sometimes, and depending on what state you live in and their laws/rules; it could be challenging, costly and just more paperwork for your wife if, God forbid, something were to happen to you.
Then again, maybe with DVC the policies for spouses are different for booking, canceling, check-in etc. Can any DVC owner shed some light on this?
Shanna
If I just put my name on the deed would my immediate household people (family) be able to get annual pass discounts, food discounts and merchandise discounts when at Disney ?
There is myself, my wife and three children ages 5,11,14. Do they get the discounts if they are not on the deed ?
You can change the title yourself for around $50.I was just discussing this with member services. It costs $425 to change the title( as per First American Title transfer), so think about what you want to do before you purchase.
Also, if you don't put your child on the title, it would go through probate if you passed away.. I am not sure how much that costs.
You can change the title yourself for around $50.
Assuming you're just adding or removing a name, here's how.How do you do that?