A few questions about owning a DVC..

[TLH1977]

We are so close to purchasing a DVC and i have talked to a DVC cast member already with all of my questions. However, as soon as i hang up phone the rest of the family finds more questions to ask me that i cant answer. So im hoping some of you DVC veterans can help. As of right now, there are 4 of us that want to buy into it. Randy told me that we can 4 names on the contract with no problem. One question came up about marriage..if one of us gets married is it a big problem to have our name changed and will it be a problem that we no longer all reside in the same house? Second question, when you pick your "month" what should one be taking into consideration? Are certain months better then others? And my last question (for the time being atleast..lol) do DVC members get any perks at DL? Thanks for any help you all can offer to us!

 

[Beca]

We are so close to purchasing a DVC and i have talked to a DVC cast member already with all of my questions. However, as soon as i hang up phone the rest of the family finds more questions to ask me that i cant answer. So im hoping some of you DVC veterans can help. As of right now, there are 4 of us that want to buy into it. Randy told me that we can 4 names on the contract with no problem. One question came up about marriage..if one of us gets married is it a big problem to have our name changed and will it be a problem that we no longer all reside in the same house? Second question, when you pick your "month" what should one be taking into consideration? Are certain months better then others? And my last question (for the time being atleast..lol) do DVC members get any perks at DL? Thanks for any help you all can offer to us!

Hi,

It shouldn't be a problem to change names because of marriage. And, where you reside is no problem.

When you pick your UY, you need to pick a month that is at the beginning of your travel season. For example, we like to travel Nov - Feb. Therefore, for us Aug-Sept-Oct are good UY's.

DVC members do NOT get any perks (other than using a LOT of your precious points to stay at DL resorts).



Beca

 

[tjkraz]

I would suggest posing the question to DVC. I've read that there are fees that run into the hundreds of dollars for changing any information recorded on the deed.

Also, I hope you've read some of the responses in the other thread you posted and have done your homework.

http://www.disboards.com/showthread.php?t=722516

Just trying to keep you out of trouble down the road...

 

[Cruelladeville]

tjkratz is correct that it is expensive to change a contract. We did it last summer, and it's like closing on a new contract, in that the cost runs nearly $500 to add or delete a name. Then you come to the problem of marriage/divorce. Your contract becomes part of community property when you marry, and if a divorce happens, then the contract must be sold to settle the divorce. That happened to my daughter, although the contract was in her name. Unless all parties get a prenup to protect the contract, you are setting yourself up for problems. Better to have the contract in one person's name, and let the kids pay for any changes if you die. Don't forget that you can add the others as associates, where they can make ressies, but you still control the contract.

 

[tinkerbee]

How many points are you all looking into buying? Maybe it would be better to buy 4 smaller contracts so you won't run into these problems latter. You can always pull your points together to take your trips. Make each other associates so one person can make the ressies.

 

[CarolMN]

I also urge you to think very carefully about buying one contract for the 4 of you (if you haven't already, of course). There are many potential problems waiting for you - Cruella already mentioned divorce.

Other examples:

What if one of you can not make payments? Files bankruptcy?

What if one or more of you just gets interested in something else and wants to sell? (It could happen).

What if you have a disagreement about how/when to use the points?

What if you no longer want to vacation together - say one of you just can't stand one of the new in-laws? The way someone disciplines (or doesn't) their kids?

I wish you all the best and hope whatever decision you make works for your situation.

 

[Scoootch]

How many points are you all looking into buying? Maybe it would be better to buy 4 smaller contracts so you won't run into these problems latter. You can always pull your points together to take your trips. Make each other associates so one person can make the ressies.

That's exactly what I was just thinking If you could each get a small contract for yourselves, you wouldn't have to worry about name changing or any of the other problems and yet you can still pull all the points between you if need be to still vacation together.

Best of luck!

 

[TLH1977]

Thank you all for the information..i always know i cant cound on this board for quick answers. Actually, we are thinking about only getting around 200-250 points. Right now we all travel together and have been for years. It would be my mom and my two sisters and i buying into it. My grandmother recently passed away and we thought since she always loved going to disney world with us the money we get from her house should be used for a DVC. So we would be paying it all off at once. Im still confused about what month to pick though...looking at the resale board it seems some months are alot of more then others in price?