3 Smaller Contracts?

[gchiker]

My home resort is BCV. I am considering buying BLT when it is finally offered. I'd like to purchase 3 smaller contracts (75 pts each?), each contract to have my wife, myself and one child as owners. This would allow easier estate planning when my wife and I are out of the picture. And each child could then decide whether to keep his contract or sell it. It would also make each child a full member.

Would DVC allow this or would they require a minimum contract size (such as 160 points) in order to buy in? In effect, this would be an add-on as we are already members. And would buying 3 separate smaller contracts disqualify us from receiving any special purchase offers for the new property?

 

[chalee94]

My home resort is BCV. I am considering buying BLT when it is finally offered. I'd like to purchase 3 smaller contracts (75 pts each?), each contract to have my wife, myself and one child as owners. This would allow easier estate planning when my wife and I are out of the picture. And each child could then decide whether to keep his contract or sell it. It would also make each child a full member.

i would recommend you not put a child's name on a real estate interest contract. that can be done later with a minimum of hassle. JMO.

Would DVC allow this or would they require a minimum contract size (such as 160 points) in order to buy in?

if you already own a contract, you can add-on 3 contracts at 75 pts each with no problem. if you are currently a nonmember, you can buy a 75 pt contract resale and add-on two more 75 pt contracts.

you may not buy direct and start with less than 100 pts in the master contract (not sure about how they allow add-ons at that level either, as it is new.)

In effect, this would be an add-on as we are already members. And would buying 3 separate smaller contracts disqualify us from receiving any special purchase offers for the new property?

not sure what the offers will be on the new property yet.

 

[disneynutz]

My home resort is BCV. I am considering buying BLT when it is finally offered. I'd like to purchase 3 smaller contracts (75 pts each?), each contract to have my wife, myself and one child as owners. This would allow easier estate planning when my wife and I are out of the picture. And each child could then decide whether to keep his contract or sell it. It would also make each child a full member.

Would DVC allow this or would they require a minimum contract size (such as 160 points) in order to buy in? In effect, this would be an add-on as we are already members. And would buying 3 separate smaller contracts disqualify us from receiving any special purchase offers for the new property?

You can buy direct, say 150 points and have the points divided into two 75 point contracts under one membership number. All members have to be the same. If you want different members, then each group would have their own membership number and the minimum buy in applies. Keep in mind that you can't combine points from different memberships together to make a reservation. You can transfer once per UY.

 

[Deb & Bill]

If the current contract has you and wife as co-owners, then all add-ons have to be titled the same. If you add your child, you start over with a new contract, ie 160 points.

 

[Chuck S]

Are your children over 18 years old? I don't think DVC or FL would allow any owner on a contract to not be an adult. Especially considering you have to be 18 to check into a resort.

As others have said, add-ons can not be titled differently than the master contract. They would be separate memberships, as they are different owners.

 

[gchiker]

Thanks for all the feedback. My kids are all over 18 years old. None are listed as owners under my present contract. It will be interestiing to see what offers are available and at what cost!

 

[raiden]

What about closing cost on add-ons? If I buy 2 75 point contracts at BLT will I have to pay twice the closing costs, one closing cost, or no closing cost?

 

[delmar411]

What about closing cost on add-ons? If I buy 2 75 point contracts at BLT will I have to pay twice the closing costs, one closing cost, or no closing cost?

There are no closing costs for add ons

Thanks for all the feedback. My kids are all over 18 years old. None are listed as owners under my present contract. It will be interestiing to see what offers are available and at what cost!

We were able to split a single add on into 3 smaller contracts while retaining the incentives for the larger point total. HTH!