Advice needed... Sell DVC during divorce?

[JenSop]

So we were going to try to figure out how to somehow share or split our DVC once we're divorced, but I really don't know how that is going to happen. Besides, I think we could both use the money more right now.

It absolutely breaks my heart to even think about selling the DVC, but maybe it's the best thing in this situation. I can always buy in later if I'm in the position to do so. (Albeit at a much higher price....sigh.)

What have others done in this situation? I'm open to hear any kind of suggestions. Currently, we own 195 points at AKV. (Two contracts: 160 + 35)

Maybe rent out points and split money for awhile? Just sell it and be done with it? sigh.....

 

[dapod423]

I have a friend who recently encountered this problem. She and her Ex have owned at BCV since '95. They are alternating years. Each year one person gets use of the points. During their year they also are responsible for the dues.

Good luck!

 

[tomandrobin]

Everyone's situation is different.

Most of the time I would recommend selling the points. Sharing is difficult and could be awkward. If one was vindictive, it could be a real ugly situation.

 

[n2mm]

I agree, everyone is different and divorces can get ugly. But if there are kids involved you need to add that in--they still need that vacation time. Maybe you can buy your spouse out. Afterall, the resale price (fair market) might be doeable. That way you can keep it and keep the perks (resale vs direct sale). Since you own at AKV looks like you haven't been an owner too long. But the resale of AKV is pretty reasonable. I would suggest that first. Personally I would never want to "split" the responsbility with my ex-spouse. Afterall, they are an "ex-spouse" for a reason.

 

[bookwormde]

If it is paid for I would suggest setting a fair net price (about $60) and one of you just keep it, and consider its value as an asset on that persons side of the settlement ledger.

If you owe on them then maybe sell the 160 and keep for yourselves (recognizing its value in the settlement) the 35 so you can transfer in points until you want to repurchase.

 

[JenSop]

We don't have kids, so that's not an issue. We own the points outright - free and clear.

Disney was always my thing to start with - I've been going since I was a little girl. My grandparents took my sister and I regularly when we were growing up.

Originally he said he was going to let me have the DVC, as he didn't see that he'd be going, since he said he only grew to love Disney because of me.

But then he said he wanted to split it, so that he could take his friends who have kids. I know truly that he's never really going to do that. Seriously.

Again - I'm thinking we could use the money more than anything....

Maybe sell the 160 points, split that money, and then I buy out this half of the 35 points just so I can keep my membership?

 

[tjkraz]

Despite the arrangements you make for splitting of the points, you would both have full control of the contract and full financial liability. If the agreement is that you each get to use points every-other-year, but he decides to use 10 of "your" points for a reservation, that's within his rights as an owner. He could use up all of the points available (banked, borrowed, etc) and even cancel a trip that you made.

There was a post here just a few weeks ago from an owner whose ex-boyfriend was listed as an Associate (not even an owner) and managed to cancel the owner's reservations and use the points for his own purposes.

Even if you have a deal to split the dues, both are still responsible. If he fails to pay his portion, you have to pay it.

Assuming both of your names are on the deed, according to Florida law when one of you passes the other would own the entire contract. That may seem acceptable today but the situation could easily change if either (or both) remarry down the road.

If he files for bankruptcy in the future, the contract will be counted as one of his assets and you could lose it.

If he re-marries and then divorces, the contract could get caught up in the divorce proceedings.

Sounds like things are amicable now. IMO, the best thing to do is resolve this ownership situation now. Either sell or buy out his share.

 

[crisi]

I agree with Tim....three possible outcomes in any divorce.

You divorce amicably and remain friends - in which case while sharing the contract might not be EASY, it should be possible.

Divorce amicably but slowly (or quickly) slip from each others lives. In which case, having to communicate a few times a year over a timeshare seems like hassle you don't need in your vacations.

Sometime during the divorce you start throwing dishes and vases at each other - in which case, you don't want to own anything in common when its done - just in case one of you decides to throw it.

Plus it sounds like you need the money. Maybe, if he's fine with it, you could keep the small contract, paying him out for it, sell the big contract.

 

[dianeschlicht]

Why not have him buy you out? Then you could take the money and buy a small resale that would at least get you your Disney fix.

 

[mickeysbestfriend]

I bought DVC before I got married and it is in my name only. My wife actually said she doesn't want the responsibility in case something happens to me and she would have to pay the annual dues.

Best of luck in a sticky situation!

 

[JenSop]

My current thinking is that I'm really leaning towards selling the big contract and buying out his share of the small contract.

That's at least going to let me visit for a few days every other year.

 

[arthur06]

Personally, I would sell ALL the points.

I just think it would be tough to have only 35 points. If you lived more locally to WDW, then I would say to keep them. It looks like you live in Pennsylvania and 35 points could be more of a cost burden then anything else.

I say sell all the points. Put your ex in your past. And move on to bigger and better things.

 

[rentayenta]

Why not have him buy you out? Then you could take the money and buy a small resale that would at least get you your Disney fix.

This.

 

[moredisneyplease]

all i can say is sorry and good luck


this sounds silly but when i bought 7 years ago i put the contract under my name only (he's not in to Disney at all) so that this way we would never fight over it if a divorce came around.

 

[JenSop]

Thing is, I'm a Disney specialist for a travel agency. (One of my four jobs.) I go to Disney regularly AND all my expenses are a tax write off - including DVC expenses.

Since I own at AKV, I have access to the value studios. (Super low points.) Every other year, my points will be the equivalent of 70, and will actually get me a decent stay.

My ex does not have the money to buy me out completely. Nor would he want to. He's not the Disney freak. I am.

So I'm presenting my idea to him of selling the big contract and I buy his share of the small contract. That way I keep my membership and can always do small add ons later if I want and am able to.

 

[bababear_50]

Hi hon
Just my two cents worth of "single' been there done that advise.

Sell the 160 contract.
Get the 35 point contract in your name only, buy him out with your share of the 160 point contract.
See how going every other year suits you and if needed buy another small point contract if and when the need arises.

Best wishes to you.
BIG Hugs
Mel

 

[mickeysbestfriend]

The idea of keeping the smaller contract and buying him out has merit. I'm not sure if you are focused on just one resort as your home but resale points can be purchased for a song at OKW and other resorts. If you check the points charts you'll find that if you are willing to studio it you can go every other hear and get a five night at a studio in OKW for as little as 55 points.

I hate to hear of someone going through what you are. I know a lot of couples where one or the other is a Disney-o-phile and the other is blase about it.

Personally I need my Disney fixes for R&R

Best wishes!

bill

 

[Mtnman44]

Can you offer to buy out his half (or just give him credit in the settlement)? Using current market value of AKV, that would be in the range of $35 to $38 per point. Much cheaper than trying to repurchase later.

ETA: Looks like this type of thing has already been suggested... good luck.

 

[Mtnman44]

Wow: a tinkerbell, a travel specialist, four jobs, and great tax writeoffs. what is wrong with this guy???

Thing is, I'm a Disney specialist for a travel agency. (One of my four jobs.) I go to Disney regularly AND all my expenses are a tax write off - including DVC expenses.

Since I own at AKV, I have access to the value studios. (Super low points.) Every other year, my points will be the equivalent of 70, and will actually get me a decent stay.

My ex does not have the money to buy me out completely. Nor would he want to. He's not the Disney freak. I am.

So I'm presenting my idea to him of selling the big contract and I buy his share of the small contract. That way I keep my membership and can always do small add ons later if I want and am able to.

 

[Greysword]

Maybe Grey kitty will demand the contracts, and you won't have to worry about it.

I'm sorry to hear you are going through a divorce. It is tough, and I hope everything works out.

As for the contract, you could offer Brian the 160 contract and he could sell it. If he decides to not accept it, offer to take it yourself (if you can afford the dues). Otherwise, the cat is in business