add on for someone else?

[JenninVT]

Can I do an add on with a second person on the deed, and then later, like when the loan is paid off, transfer that as a separate contract into just that person's name? Take my name off?

I have a friend who is interested in AKL, but probably less than 150 points. If we went on the contract together, then we/he could get any pre-sale discounts. We'd basically be buying it together, then I'd be "selling" it to him at some point, right?

Then there's the ROFR, but I thought that was waived for removing a name from an existing contract. I have to do that with my ex when my VWL contract gets paid off.

 

[dianeschlicht]

Can I do an add on with a second person on the deed, and then later, like when the loan is paid off, transfer that as a separate contract into just that person's name? Take my name off?

I have a friend who is interested in AKL, but probably less than 150 points. If we went on the contract together, then we/he could get any pre-sale discounts. We'd basically be buying it together, then I'd be "selling" it to him at some point, right?

Then there's the ROFR, but I thought that was waived for removing a name from an existing contract. I have to do that with my ex when my VWL contract gets paid off.

If this person is not already listed as an owner on your master contract, I'm not certain they could be listed as an owner on a add-on. My advice is to call your guide and find out for sure.

 

[VLee]

I was also told by a guide that in order for a person to be listed on the add-on contract, the person must also be listed on the master contract.

 

[JimMIA]

Can I do an add on with a second person on the deed, and then later, like when the loan is paid off, transfer that as a separate contract into just that person's name? Take my name off?

No. If you are doing an add-on, the registration of the add-on contract has to be exactly the same as the registration on the original contract.

Also, transferring ownership from joint to individual as a result of a property settlement in a divorce is a very different animal than transfering ownership in a similar manner to bypass Disney's minimum purchase requirement. I can't imagine Disney cooperating to enable you to bypass that requirement.

Even if they would, until you get your ex off the contract, doing what you want would also require your ex's approval and signature on both transactions. Even if you COULD do it, this sounds too complicated and potentially risky to consider.

Your friend's best option would be to find a smaller contract on the resale market and buy that.

 

[starbox]

No. If you are doing an add-on, the registration of the add-on contract has to be exactly the same as the registration on the original contract.

What about adding children to the contract or doing and add-on as a gift in a child's name?

Just curious.

 

[Dean]

What about adding children to the contract or doing and add-on as a gift in a child's name?

Just curious.

Minor's can't be added. Otherwise an adult child is no different than adding a stranger to the deed. Of course you can add them as an associate but no perks and no right of survivorship.

The rule is that add ons must be the exact same registration. Of course one can do the add on they pay to change it at an additional cost and aggravation. If you do 150 points, it can be different registration. Remember anything that is different is TOTALLY different like two different people even if two contracts share some of the same owners. No combined banking totals or the like. The only exception I know of this so far is that one person bought two 75 pt contracts as an "add on" and titled them differently. It was 150 pts total but they were allowed to make them two 75 pt contracts under the new ownership listings.

 

[GSW85]

You first buy the add on. Buy an amount you can do without financing, like 25 points.

Then you sell the add on contract to the other individual, or simply put that persons name on the add on portion with your name.

Once you change the name on the add on, it will gain a new member number.

You will need to go through ROFR with Disney, have a deed prepared and file it with Orange County.

The deed is not difficult to word process, just copy the language from a resale deed, you can get one from the County online.

In order to pass ROFR the sale price will need to be high enough so Disney does not buy it back. Please note that I am not condoning inflating a sales price to pass ROFR with a friend.

 

[LIFERBABE]

You first buy the add on. Buy an amount you can do without financing, like 25 points.

Then you sell the add on contract to the other individual, or simply put that persons name on the add on portion with your name.

Once you change the name on the add on, it will gain a new member number.

You will need to go through ROFR with Disney, have a deed prepared and file it with Orange County.

The deed is not difficult to word process, just copy the language from a resale deed, you can get one from the County online.

In order to pass ROFR the sale price will need to be high enough so Disney does not buy it back. Please note that I am not condoning inflating a sales price to pass ROFR with a friend.

You cannot add anyone's name to an add-on that was not listed on the master contract. A minimum of 150 points purchased from DVC is considered a master contract anything less is an add-on and will have the same member number as the master contract.

Also, DVC has been aggressively ROFR on small contracts. The OP is a current member, but her friend is not so they would most likely go for that contract to keep that back door closed.

 

[GSW85]

You cannot add anyone's name to an add-on that was not listed on the master contract. A minimum of 150 points purchased from DVC is considered a master contract anything less is an add-on and will have the same member number as the master contract.

Also, DVC has been aggressively ROFR on small contracts. The OP is a current member, but her friend is not so they would most likely go for that contract to keep that back door closed.

What I was suggesting is that the OP actually do a sale of the add on contract to their friend.

The sale price could also be at a premium because of the small size. I seriously doubt DVC would exercise a ROFR at $125 a point.

It works, I have done it.

 

[Dean]

In order to pass ROFR the sale price will need to be high enough so Disney does not buy it back. Please note that I am not condoning inflating a sales price to pass ROFR with a friend.

One can give it to the friend and get an automatic ROFR. Inflating the price above actual sales price is illegal in most states including FL from what I'm told.

You cannot add anyone's name to an add-on that was not listed on the master contract. A minimum of 150 points purchased from DVC is considered a master contract anything less is an add-on and will have the same member number as the master contract.

Also, DVC has been aggressively ROFR on small contracts. The OP is a current member, but her friend is not so they would most likely go for that contract to keep that back door closed.

We may be saying the same thing in different ways. But you can change the deed for a 25 pt contract by doing a new deed and going through ROFR as appropriate. The small contract then becomes stand alone and is not connected to it's original master. All listed on the deed are then owners and have all the perks. I don't think it would be difficult for a small contract to come up with a fair and honest arrangement that would pass ROFR.

 

[LIFERBABE]

One can give it to the friend and get an automatic ROFR. Inflating the price above actual sales price is illegal in most states including FL from what I'm told.

We may be saying the same thing in different ways. But you can change the deed for a 25 pt contract by doing a new deed and going through ROFR as appropriate. The small contract then becomes stand alone and is not connected to it's original master. All listed on the deed are then owners and have all the perks. I don't think it would be difficult for a small contract to come up with a fair and honest arrangement that would pass ROFR.

Dean, I agree with you. It would take the sale of an add-on contract in order to change the name. I was just trying to clarify the difference because GS posted .....simply put the name on the addon contract...... which could be misleading.
A sale has to take place, and ROFR also has to take place in order for a small add on to take on a new identity.

 

[graygables]

Not to hijack the thread, but I have a question...if I have one contract w/ one adult DD and wanted to add on a seperate contract w/ another adult DD, I'd have to have a whole new contract? How does that work in terms of ressies, then? Can I combine the points from the 2 contracts to make ressies? I was under the impression that I could do an add-on contract for 2nd DD and myself.

 

[cncDisney4]

What about adding children to the contract or doing and add-on as a gift in a child's name?

Just curious.

We just did an add-on at SSR and wanted to add our DS to the contract (he's 21) and they said no because he wasn't on the original contract. We figured when we were to old to travel to see Mickey he would be in control of the contract since he was on it as an owner. Oh well, we'll just have to use both contracts for the next 49 years!!!

 

[Dean]

Not to hijack the thread, but I have a question...if I have one contract w/ one adult DD and wanted to add on a seperate contract w/ another adult DD, I'd have to have a whole new contract? How does that work in terms of ressies, then? Can I combine the points from the 2 contracts to make ressies? I was under the impression that I could do an add-on contract for 2nd DD and myself.

The same as any other separate contract. You could make certain days on one then certain days on the other contract and link them together. The issue becomes if you have stray points to use from both contracts for a single nights ressie or for an entity that requires a lot of points in a singled contract like a cruise or CC stay. In that case it's a transfer of points from one to the other. In the past MS has been very flexible on a case by case basis even transferring banked or borrowed points but it would depend on the specifics. We haven't seen much info since they have cracked down on transfers so it remains to be seen how these specific situations would be handled now. You'd also lose the cumulative banking totals you get with multiple contracts under one master.

 

[JimMIA]

In order to pass ROFR the sale price will need to be high enough so Disney does not buy it back. Please note that I am not condoning inflating a sales price to pass ROFR with a friend.

The sale price could also be at a premium because of the small size. I seriously doubt DVC would exercise a ROFR at $125 a point.

It works, I have done it.

My mind must have wandered there for a second -- which of these positions that you have taken is your real position?

There is obviously nothing wrong with selling your DVC contract for $125 per point.

But if you falsely claim such a price, that's misrepresentation of a material fact and may either Third Degree or Second Grand Theft under Florida law, depending on the value of the contract.

There are some other cute nuances if a prosecutor is really grumpy, like charging both the buyer and seller not only with GT, but also Conspiracy and Schemes to Defraud.

In fact, I'd suggest that any of my Orange County SO buddies out there drop a subpoena on the DIS, find out the true name, check the property records, and see if you really have done such a transaction. Such an easy slam-dunk case!

Other than that, it's a pretty cool idea.

I don't know what you are doing -- but I don't want some innocent reader to blunder into committing a felony by following such very poor advice.

 

[4Pluto]

We just did an add-on at SSR and wanted to add our DS to the contract (he's 21) and they said no because he wasn't on the original contract. We figured when we were to old to travel to see Mickey he would be in control of the contract since he was on it as an owner. Oh well, we'll just have to use both contracts for the next 49 years!!!

Wow, that response from Disney raised some questions.

If you cannot add a family member to a contract, can you make a gift of the whole contract to a family member? And if you have two different family members that you would like to give the contracts to, would you have to have two separate contracts rather than add-on contracts to make the gift?

And as for a right of survivorship, can minor heirs inherit the contracts? Do the contracts have to go through ROFR for family members to inherit the contract?

Not that I'm planning on dying soon but maybe those extra years at SSR aren't really worth that much if you can't leave the contracts in your will . . .

 

[RobDoc]

Wow, that response from Disney raised some questions.

If you cannot add a family member to a contract, can you make a gift of the whole contract to a family member? And if you have two different family members that you would like to give the contracts to, would you have to have two separate contracts rather than add-on contracts to make the gift?

You can add a family member (or anyone else) to a deed. It will need to be recorded with the county, but others may be added. DVC will not allow a member to add others during the add-on process (add-ons must be in the same names already on the master contract deed). Once you have competed the add-on, you may add others to the deed if desired. You can also gift the contract to a family member - Disney will usually allow ROFR to pass with such a transfer.

And as for a right of survivorship, can minor heirs inherit the contracts? Do the contracts have to go through ROFR for family members to inherit the contract?

Yes, the deed would be part pf your estate and would be treated as directed in your will or as directed by your state if there is no will. Technically, ROFR will be required in order for the contract to change hands, but this would likely be passed without any problem.

 

[Dean]

Wow, that response from Disney raised some questions.

If you cannot add a family member to a contract, can you make a gift of the whole contract to a family member? And if you have two different family members that you would like to give the contracts to, would you have to have two separate contracts rather than add-on contracts to make the gift?

And as for a right of survivorship, can minor heirs inherit the contracts? Do the contracts have to go through ROFR for family members to inherit the contract?

Not that I'm planning on dying soon but maybe those extra years at SSR aren't really worth that much if you can't leave the contracts in your will . . .

As long as you make the changes in the whole contract, you can do it any way you want subject to ROFR. As Doc says, DVC is pretty automatic with the ROFR when gifts are concerned, esp to family members, but you still must complete the process. You could do one deed, no matter how small, to one person and another to a different person or you could do multiple people on one deed. I've heard various maximum number of people between 4 and 6 so if that is an issue, you may want to check into it further. Once it's in their names, the same rules apply as they do your current contracts. It can be left to the heirs of who is on the deed and ROFR still applies. You could even add on small contracts as small as 25 pts with the idea of giving it to other family members.

Just remember once you make ANY changes of ownership, it can not longer be combined directly with any of your other contracts. You could still make separate reservations and link them and you could potentially transfer those points back to your current master contract.

 

[4Pluto]

It sounds like a non-issue, but out of curiosity, does Disney consider the gift or bequest as being at a fair market value (in other words, if they exercised the ROFR on a gift, would they pay a fair market value for contract)?

Is this something covered in the contract itself? I guess the question I should really ask is, in which document would this be covered?

Thanks for indulging idol curiosity.

 

[Dean]

It sounds like a non-issue, but out of curiosity, does Disney consider the gift or bequest as being at a fair market value (in other words, if they exercised the ROFR on a gift, would they pay a fair market value for contract)?

Is this something covered in the contract itself? I guess the question I should really ask is, in which document would this be covered?

Thanks for indulging idol curiosity.

What you'd do in this case is contact them and tell them your intentions. You would likely have to send them a letter spelling out your intentions. They'd then tell you whether it qualifies for an automatic waiver and would send it to you if so. But you would not have to send it in with the risk of them taking it unless you simply did it incorrectly. The problem is that I'm not sure how they'd handle it for a non family member where they would likely be suspicious you were trying to bypass ROFR on a sale rather than it being a true gift.