Can you take over or assume a DVC ?

[thechef71]

I've been considering buying a DVC but was curious if it was ever possible to take over a DVC from somebody? I did a search but didn't really see anything. Is this possible and if so has anybody done it?

 

[arthur06]

I think that it can only be left to a spouse and children. However, if you could get them to add you to the deed, then have them file a quit claim deed, that may work. However, why would anyone want to simply give away something with so much equity, if paid off!

 

[thechef71]

Was thinking more along the lines of maybe somebody bought one then due to circumstances they can't afford and have little or no equity and looking to get out of the loan.

 

[erionm]

I don't believe that Disney will let someone assume another members loan.

 

[BeccaG]

I think the closest you will find to what you are looking for is the resale market. There are several resalers out there who help people "unload" their DVC points in just such the scenario you are describing, including the sponsor of this board, the Timeshare store.

 

[Dean]

I've been considering buying a DVC but was curious if it was ever possible to take over a DVC from somebody? I did a search but didn't really see anything. Is this possible and if so has anybody done it?

Unlikely to be able to formally assume a loan and can't change the deed without changing or paying off the loan. You'd be better off getting your own anyway.

 

[Crystal_27]

I guess in theory you could take over the payments, but they would still be considered the owners and you would not be able to take advantage of any of the discounts that DVC offers - - the owner has to show his/her membership card in order to get the various discounts. However, again in theory, it's certainly possible to pay their loan payments and maintenance fees, but that would seem to lend itself to a dispute at some point... If this person is experiencing a financial hardship and wishes to unload DVC to you, I would think it a wiser couse of action for him/her to formally sell the contract to you. Either way, good luck!!