Buying DVC from family member- help please

[Hartley88]

Hi all

we currently own at Saratoga springs but we are looking at taking on my dadcontract as well

He owns at animal kingdom lodge and I’m an associate on the account but he can’t keep up with the payment anymore due to losing his job due to Covid.

There is still finance outstanding with Disney for the contract which I am able to pay in full and ask them to transfer the deed into my name but will Disney still try and buy the contract back or would they waiver it due to me being immediate family? I’m not giving my dad any money for the contract I’m just clearing the balance due to Disney I’m not sure if that makes any difference

We live in the UK so it’s hard to get advice regarding this and member services won’t discuss it over the phone so I’m waiting for them to email me back

 

[Sandisw]

I think if your dad clears the mortgage, regardless of from where he gets the money, he can then do a gratuitous transfer to you as his child.

 

[CarolynFH]

I agree with Sandi. Give your dad the money to pay off the mortgage, then work on the gratuitous transfer. Here’s a thread that might help with the transfer: https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/. If you’d like to use an agency, I can recommend www.LTtransfers.com. Not sure whether being in the UK will complicate matters.