deed question

[mrsswat]

I know I have seen this topic before but didn't think it would apply to me so soon. I recently lost my DH and would like some advice on adding my 2 DDs (adults) to our DVC deed. Good idea, bad idea, how to go about it? I will take any and all advice into consideration. Thanks!

 

[Dean]

I know I have seen this topic before but didn't think it would apply to me so soon. I recently lost my DH and would like some advice on adding my 2 DDs (adults) to our DVC deed. Good idea, bad idea, how to go about it? I will take any and all advice into consideration. Thanks!

I'm sorry for your loss.

Technically it's not difficult assuming they are at least 18. Advantages include they'll get member perks including AP discount (get some perks anyway if at the same address as the owner or traveling with the owner or on their points). But it does become their legal property as well so if they have any legal or financial issues it could be a problem and they could make reservations and changes outside your wishes if they wanted. You can get a company to do it for as little as around $130 or you can do it yourself for about $50. DVC is much more, $450 IIRC.

As a rule I think it's not a great idea but we did add our daughter to our smaller contract of 100 pts (4*25) though we did intend to sell off all but 25 when we did this. We haven't yet sold it but still may. We did not add our son because he was not as stable or mature at the time we did this.

 

[DVC Dude]

I would call DVC direct and speak to someone there as I can't imagine that they would charge this much for doing something as basic as this, but you never know as they charge over $15 for a soda in a mug these days.

When you find the exact details, please post here.

 

[Dean]

I would call DVC direct and speak to someone there as I can't imagine that they would charge this much for doing something as basic as this, but you never know as they charge over $15 for a soda in a mug these days.

When you find the exact details, please post here.

I know it was $450, the reason I wasn't absolute is I'm not sure if it went up recently. They had to do a new deed and you have to go through the technical part of the ROFR process.

 

[francie57]

When we did the dvc presentation in Aug. we asked about this since it is such a long-term commitment. We were told if we put the deed in our names, if something happened to one it would automatically go to the survivor and as far as our grown children were concerned - make it a provision of our will on how to split it. That might be something to consider so you still have control over the points but they would be left the points.

 

[Dean]

When we did the dvc presentation in Aug. we asked about this since it is such a long-term commitment. We were told if we put the deed in our names, if something happened to one it would automatically go to the survivor and as far as our grown children were concerned - make it a provision of our will on how to split it. That might be something to consider so you still have control over the points but they would be left the points.

I believe they'd still have to go through the ROFR paperwork and change the deed to be added to the membership unless they were already on the deed. Same with removing a spouse such as in a divorce no matter what the judge signs off on.

 

[beachbug79]

My dh went ahead to purchase one to surprise me, I found out. Now waiting for ROFR, but my name is not on the deed. Will it be hard for me to add it when its finished?

 

[Dean]

My dh went ahead to purchase one to surprise me, I found out. Now waiting for ROFR, but my name is not on the deed. Will it be hard for me to add it when its finished?

It shouldn't be too late to do it now. Contact the closing company and see if they can add it at this time. I doubt you'd have to redo ROFR in this situation.