Anyone Help a Relative do a Small Add-on Through Disney?

[KandiB47]

My father has showed an interest lately in a small DVC contract (55 points). I was also considering an add-on for the current incentive. Could I do two contracts, one for 110 points with DH and another for 55 points with my dad? How would this work?

It would be a win-win situation because we could get the bonus 160 points and the $500 reward dollars right?

Can anyone tell me about your experience with buying DVC with someone besides a spouse? I trust my dad with my life. I know he would NEVER deliberately do anything untrustworthy. If some financial disaster happened we could sell the contract. Any thoughts?

 

[Doctor P]

No. Add ons must be titled identical to your master contract. Only new master contracts could be titled differently (i.e., an add on of 160 or more points).

 

[Buckeye Fan]

But...couldn't the contract be added as the others and add Dad as an associate member? I do think it's doable to get the added incentives.

The risk you run, among others people may think of, as an associate, Dad would have access to booking all of your points, not just the 55 you add. He would have to have the same UY as you (which may not be idea for him). If Dad passes and chooses to leave the contract to someone else, that may get sticky. Lastly, if you finance through Dis, this would be under you as well. So unless you're paying cash, if Dad defaults on the loan payment or maintenance fees, this will all fall to you to settle up or it's going to impact your contract(s) as well.

Just some options, as I'm with you. I trust my dad wholeheartedly and would do something like this in a heartbeat to benefit both of us. Best wishes!

 

[littlestar]

We gave mom and dad 85 of our BCV points to have as their own contract. It only cost us around $50 (we did the quit claim deed ourselves and Disney waived the ROFR since it was between family). Here's a link where I used AJR's comments to prepare the quit claim deed:

http://www.disboards.com/showthread.php?t=953568&highlight=quit+claim+deed