Adding an Owner to an Existing Contract?

[Starseeker1221]

Hi! Does anyone know if it is possible to add a name to an existing DVC contract after purchasing (such as if you were to get married), or if you must keep the original owner(s) only?

 

[JimMIA]

Yes, you can do that. There are actually two ways to get a person on the account, one which gives them ownership and another which gives them the use of the account but not ownership or financial responsibility for the account.

To add an owner to the account requires re-titling the account. Call MS and select the voicemail prompt for Member Administration and they can fill you in on the details. There are probably some costs involved, but I don't know what they are. You also have to pass ROFR, but DVC typically waives ROFR automatically in such situations.

If the contract is financed, the mortgage would present some issues. I'm not sure how that would work, but Member Administration will know if Disney is the financing entity.

To add a person to the account without making them an owner or having them take on financial responsibility for the account, you just make them an associate. They can make ressies, bank points -- most of the stuff the owner can do. But they don't actually have any ownership interest in the account, and are therefore not financially responsible.

You can add anyone as an associate online at the Member site, and you can also take them off at any time if they act unmagical!

 

[Starseeker1221]

Yes, you can do that. There are actually two ways to get a person on the account, one which gives them ownership and another which gives them the use of the account but not ownership or financial responsibility for the account.

To add an owner to the account requires re-titling the account. Call MS and select the voicemail prompt for Member Administration and they can fill you in on the details. There are probably some costs involved, but I don't know what they are. You also have to pass ROFR, but DVC typically waives ROFR automatically in such situations.

If the contract is financed, the mortgage would present some issues. I'm not sure how that would work, but Member Administration will know if Disney is the financing entity.

To add a person to the account without making them an owner or having them take on financial responsibility for the account, you just make them an associate. They can make ressies, bank points -- most of the stuff the owner can do. But they don't actually have any ownership interest in the account, and are therefore not financially responsible.

You can add anyone as an associate online at the Member site, and you can also take them off at any time if they act unmagical!

Thank you so much for the reply! Does adding someone as an associate also give them the ability to purchase discounted annual passes? (Sorry if this is a naive question)

 

[JaxFLBear]

An associate member is not entitled to any member benefits. They can only make/modify reservations. If this person lives with you and has a government issued id with the same mailing address, you could purchase them a discounted ap.

 

[Paradise East]

Been also thinking about this question for a time.

How many names can be on the deed?

We are 67 and looking into buying into the BWV because of location, location,
location. We feel we have, hopefully, at least another 10 years of regular useage.

We have 3 adult kids (oxymoron?) with families that I would like to be included on the deed
so they can also make ressies (for the obvious reasons) and they can inherit the deed whenever.

Any thoughts.

Cheers
Dave

 

[Judy WI]

Been also thinking about this question for a time.
How many names can be on the deed?
We are 67 and looking into buying into the BWV because of location, location,
location. We feel we have, hopefully, at least another 10 years of regular useage.
We have 3 adult kids (oxymoron?) with families that I would like to be included on the deed
so they can also make ressies (for the obvious reasons) and they can inherit the deed whenever.

Any thoughts.

Cheers
Dave

My thoughts. We are 58 and have 2 families to deal with. Don't put their name as owners on the deeds. When you are gone let it go into the estate and then let them deal with it. Or when you can no longer enjoy it then find out who wants on the deed at that time. Who knows remember if one of them dies, heaven forbid but our son did last year, then it becomes part of his estate. His wife will own his part and may want out or her new husband may not be someone you want to share with. One kid gets divorced and then that part of the contract is inclued in the settlement. Or one goes under financially then it becomes part of that settlement. Can be big problems. Save your self now all the headaches and let them deal later.

Just my 2 cents.

 

[DeeCee735]

My thoughts. We are 58 and have 2 families to deal with. Don't put their name as owners on the deeds. When you are gone let it go into the estate and then let them deal with it. Or when you can no longer enjoy it then find out who wants on the deed at that time. Who knows remember if one of them dies, heaven forbid but our son did last year, then it becomes part of his estate. His wife will own his part and may want out or her new husband may not be someone you want to share with. One kid gets divorced and then that part of the contract is inclued in the settlement. Or one goes under financially then it becomes part of that settlement. Can be big problems. Save your self now all the headaches and let them deal later.

Just my 2 cents.

Thanks, this answers my question too (although we - God willing - have plenty of time to deal with this).

 

[Paradise East]

Good points Judy WI (raising your input to 5 cents )

Looks like the best way to include kids in the contract (if wanted) would be as Associates.

But ... is there any benefit to doing so except the ability to make ressies and bank points.
Does the members free internet apply to Associates?
Hmmm

 

[JaxFLBear]

Good points Judy WI (raising your input to 5 cents )

Looks like the best way to include kids in the contract (if wanted) would be as Associates.

But ... is there any benefit to doing so except the ability to make ressies and bank points.
Does the members free internet apply to Associates?
Hmmm

The room just has to be booked on member points to get free internet. Cash & incoming II trades are not supposed to get free internet.

 

[disneyfinatics]

My parents told us that we are on the deed. Does this mean we can obtain a membership card to get annual passes and better yet the special trading pins? Would we be able to open our own online account? I just want to be able to e-mail dvc w/out using my parents account. My mom doesn't care about that, but I just can't e-mail my concerns to dvc using my dad's account. What does it mean to be on the deed?

 

[Judy WI]

My parents told us that we are on the deed. Does this mean we can obtain a membership card to get annual passes and better yet the special trading pins? Would we be able to open our own online account? I just want to be able to e-mail dvc w/out using my parents account. My mom doesn't care about that, but I just can't e-mail my concerns to dvc using my dad's account. What does it mean to be on the deed?

Worst case to be on the deed, if your parents can't pay you have to. So that being said if you are I would say yes you should be getting the cards for annual passes. I am not for sure how this works. Does disney use one address?? and only at that address gets the discounts, but if I was on the deed I would say I was the owner and should have owners rights- just for the discounts with out causing family problems. And again just how you go about that I hope someone else jumps in here and lets us all know. Is there a main owner? only they get the cards and discounts at that address. That would not seem right if 2 families share one payment and MF's they would both be on the deed and want the discounts.

 

[n2mm]

My parents told us that we are on the deed. Does this mean we can obtain a membership card to get annual passes and better yet the special trading pins? Would we be able to open our own online account? I just want to be able to e-mail dvc w/out using my parents account. My mom doesn't care about that, but I just can't e-mail my concerns to dvc using my dad's account. What does it mean to be on the deed?

My situation might help. On our deed the owners are myself, my husband and my adult daughter. We have two separate addresses. My daughter gets every piece of mail relating to DVC that we get. My daughter also gets all incentives (she got the anniversary picture--so we got two). She also gets AP discounts for herself and her family. While the deed has rights to survivorship, there's no issue about her inheiriting the contracts (if we don't sell it beforehand). But it's also mentioned in our wills, plus we also left our membership to our other adult daughter in our wills in case something happens to all three of us (especially since we fly together often). The only financial aspect to leaving it to our daughters is the cost of the yearly dues. She also has a membership card (as do both of us). She had the opportunity to log onto the DVC website, but she never did, and can't find the password card now (she can call MS to get a new one--I'll add that to my ever growing to do list).

 

[disneyfinatics]

Thanks so much for the info. I'll have to ask my mom about this.

 

[jamstew]

I listed two of my adult children as associates on both of my contracts, and each one will inherit one of them. Neither will be going more than once every 2-3 years, and they don't really need any of the member benefits. If I get to the point that I can't travel to Disney myself, I'd probably go ahead and deed it to them.

When my DD got a divorce, I remembered real quickly why I hadn't transferred anything to her or had her as a joint owner on anything. It's something you hope won't happen and usually don't expect, but, unfortunately, it does happen, and your affairs can get in a pretty big mess if you hold joint ownership in something with the child.

Another strategy I learned from my mother is that if you're going to transfer something to your children, make sure to specify that it is their separate property...otherwise, iit could be considered community property (in some states).

 

[Tabetha]

FYI - if you've financed through Disney, you need to wait until the loan is paid off before you can add another name to the deed.

Looked into this a couple of months ago cause I'd like to add my fiance's name once we're married.