Adding adult daughter to ownership

[slindamood]

I know I have read it here, but can't find it.
What are the procedures for adding a person as an owner to our DVC membership? We want to add our adult daughter.

Any ide of the costs and time it takes, in addition to the process?

Thanks!

 

[SuzanneSLO]

I know I have read it here, but can't find it.
What are the procedures for adding a person as an owner to our DVC membership? We want to add our adult daughter.

Any ide of the costs and time it takes, in addition to the process?

Thanks!

To add her to the ownership, you need to record a deed gifting her an interest in your DVC membership. You still need to pass ROFR with DVD, but it is just a rubber stamp for a gift to a family member. I'm not sure if there is a charge by DVD for the ROFR.

The cost is primarily the cost of recording the new deed, plus any cost related to having the deed prepared, although you can do this yourself at least for Florida and CA DVC home resorts. Depending on the value of the gift and your state of residence, there may be gift tax.

Be aware that if your daughter has any financial issues in the future or a divorce, it may then impact on your ownership.

-- Suzanne

 

[DenLo]

Another option would be to add her name as an associate. She can make reservations as an associate. Then if the unthinkable occurs and she has legal problems or is gets a divorce, the DVC points would not be affected. You can leave her the deeds in your will.