Adding a name

[Bronte]

When we bought our first contract (2012 resale) our youngest daughter was not 18 so she is not on the contract as a member. The title company wants almost $500 to put her on now that she is over 21. Is there a cheeper way ??
Thanks

 

[Dean]

When we bought our first contract (2012 resale) our youngest daughter was not 18 so she is not on the contract as a member. The title company wants almost $500 to put her on now that she is over 21. Is there a cheeper way ??
Thanks

Sure you can do it yourself for about $50. Just be sure you want them to be on the deed, you may not. If they have financial issues or a divorce, they will be an owner and it will be treated as their asset. It counts for FAFSA for college. They can get the pass discounts by having the same address as the member.

see this post:

https://www.disboards.com/threads/n...-names-on-dvc-contract.3537268/#post-56305227

 

[Bronte]

Thanks
My oldest was going into college when we got the contract and it never made a difference for her. The youngest is finishing up her undergrad in December and both daughters qualified for the same loans over the years so that is how I know for us it made no difference. I personally thought it would help the oldest establish credit history but that also was not the case IMO

 

[disneynutz]

Thanks
My oldest was going into college when we got the contract and it never made a difference for her. The youngest is finishing up her undergrad in December and both daughters qualified for the same loans over the years so that is how I know for us it made no difference. I personally thought it would help the oldest establish credit history but that also was not the case IMO

DVC doesn't help with credit reports and as posted all on the deed will be equal owners.

Bill

 

[Dean]

Thanks
My oldest was going into college when we got the contract and it never made a difference for her. The youngest is finishing up her undergrad in December and both daughters qualified for the same loans over the years so that is how I know for us it made no difference. I personally thought it would help the oldest establish credit history but that also was not the case IMO

As noted, DVC doesn't normally report credit histories. I don't personally believe in "building credit".

DVC doesn't help with credit reports and as posted all on the deed will be equal owners.

Bill

There are ways to hold title with unequal shares though I'm not sure I've seen this done with DVC.