Anyone own 1/2 & 1/2 with a relative?

[dolphinea]

Hi folks,

I am considering asking my Dad if he would like to go in with me on a membership, for the new Sarasota Springs resort.

I've got a DVC guide calling me to give me some info on how that might work, but I thought it would be good to hear stories from owners about their experience going "halves" with a relative.

Any pitfalls? Inconveniences? Issues?

Thanks for your input,

Amanda

 

[JimC]

Some questions to consider:

Who will pay the maintenance fees? Will you each use one-half of the points from each year's allocation? Who is repsonsible for banking unused points by the deadline? Are there any other siblings to consider? If your Dad wants to pay cash, can you handle the payments for your half if you need to finance? Will you vacation together or separately? Are your parents Disney fans?

Hope this helps. Good luck!

 

[married@wdw]

DH and I own with my mom. We bought our own 150 points, took my parents the following summer. They loved it and wanted in but they like to go in January, so they didn't really need 150 points. So they added 75 points onto our membership (then added another 50, so now they're up to 125). Our deal works that I'm in charge of everything -- banking, borrowing, keeping track of how many points we each have left, figuring how much my mom owes in dues (we pay monthly, so she just gives us a lump some once each year), making reservations, etc. Basically, they get all the benefits of DVC without all the work. In return, we'll "inherit" the DVC points when she passes (so I really don't want her points anytime soon!!!). We've had this situation for about two years now and it's been fantastic for all of us.

We've all been able to be more flexible because there are more points available to bank and borrow -- my parents went on a long trip last January and used some of our points from this year. In return, we're going on a long trip next January and we're borrowing those points back from their points the following year. And we're planning a huge family trip with both my sisters families in February 2005 -- hoping for a GV at OKW! Mom and I are both putting in our points and my sisters will buy us park passes and stock the fridge. Should be a blast (if I can get the room!).

 

[Disney1fan2002]

My sister and I considered sharing a contract. the way we discussed doing it was split the intial cost down the middle and then alternating who gets to use the points every year. We would switch off every other year. Who ever was using the points paid the maintanence fees for that year. My sister was all for it of course, becaue my Dh and I would be the ones making the commitment. She would of paid us. My Dh and I got cold feet, because, not that we were afraid she wouldn't pay us, but we are just tired of family members using our spotless credit to get what they can't get on there own. Also, there was the problem of never being able to bank points into the next year, for a bigger trip.

Now we own ourselves, and I have invited my sister and her family to enjoy our points for a trip next April. She will be taking the tour then, and after staying in a 2 Bdrm OKW villa and then a GV, she will be hooked. So then, I would get the $200 referal!

 

[Cruelladeville]

This isn't quite the same thing, but DD and her ex had to sell their contract as part of their settlement. I took it over, and have paid everything ever since. I have a quit claim deed from the ex, and DD will inherit it someday, but in the mean time I am in charge of everything, including the allocating of points. This way I can be sure everything is bering paid, and in a way it helps my "baby" reestablish credit in her own name. But I consider it my contract, and act accordingly.