Deed title the same for married couple?

[PoppyJ]

This is keeping me up at night... I am not currently a DVC member. I have one contract that just passed ROFR. I am waiting on closing documents from Magic Vacation Title. When I filled out the form for the title, the options were "Husband and wife (may be selected only if husband and wife are purchasing property)" or "A married couple, joint tenants with rights of survivorship." I chose "A married couple, joint tenants with rights of survivorship."

I have another contract (same use year) in ROFR but the title company is Mason. When I filled out the form for the title, the options were "Tenants by the Entirety: is created for husband and wife" or "Joint tenancy (joint tenants with full rights of survivorship)." I chose "Joint tenancy (joint tenants with full rights of survivorship)."

So I have one contract that will be titled "married couple, joint tenants with rights of survivorship" and one contract that will be titled "Joint tenancy (joint tenants with full rights of survivorship)."

Are these considered to be titled the same so that Disney will link the memberships together??

 

[CaptainAmerica]

This is keeping me up at night... I am not currently a DVC member. I have one contract that just passed ROFR. I am waiting on closing documents from Magic Vacation Title. When I filled out the form for the title, the options were "Husband and wife (may be selected only if husband and wife are purchasing property)" or "A married couple, joint tenants with rights of survivorship." I chose "A married couple, joint tenants with rights of survivorship."

I have another contract (same use year) in ROFR but the title company is Mason. When I filled out the form for the title, the options were "Tenants by the Entirety: is created for husband and wife" or "Joint tenancy (joint tenants with full rights of survivorship)." I chose "Joint tenancy (joint tenants with full rights of survivorship)."

So I have one contract that will be titled "married couple, joint tenants with rights of survivorship" and one contract that will be titled "Joint tenancy (joint tenants with full rights of survivorship)."

Are these considered to be titled the same so that Disney will link the memberships together??

Following along. I'm in the exact same situation, though I expect my pending resale contract to get taken in ROFR.

The options seem to have either changed in the past few months, or different title companies use different definitions. In both cases, there was only one options that said "this one here is the exclusive one that you can only pick if you're a married couple," but the verbiage is definitely different.

 

[PoppyJ]

Following along. I'm in the exact same situation, though I expect my pending resale contract to get taken in ROFR.

The options seem to have either changed in the past few months, or different title companies use different definitions. In both cases, there was only one options that said "this one here is the exclusive one that you can only pick if you're a married couple," but the verbiage is definitely different.

I don't understand why the language isn't the same! I hope I am over thinking this.

 

[Sandisw]

I think that because each says joint tenancy with rights of survivorship,i it’s fine because the other person simply becomes sole owner when the other passes.

 

[KVacc]

So adding on to this...what happens if they are deeded Husband and Wife and one passes away?

 

[sndral]

I don't understand why the language isn't the same! I hope I am over thinking this.

The language is not the same because they are different ways of holding title.
https://www.deedclaim.com/florida/tenancy-entirety/
Contact Magic Vacation Title and clarify how title is going to be held - if, as I suspect, it’s as a married couple as tenants by the entirety & you want the creditor protection that form of title provides (as well as automatic inheritance,) then contact Mason and ask them to title that deed the same way.

 

[PoppyJ]

The language is not the same because they are different ways of holding title.
https://www.deedclaim.com/florida/tenancy-entirety/
Contact Magic Vacation Title and clarify how title is going to be held - if, as I suspect, it’s as a married couple as tenants by the entirety & you want the creditor protection that form of title provides (as well as automatic inheritance,) then contact Mason and ask them to title that deed the same way.

So for the Magic Vacation Title one, do you think "Husband and wife (may be selected only if husband and wife are purchasing property)" is equivalent to tenants by the entirety?

 

[sndral]

So for the Magic Vacation Title one, do you think "Husband and wife (may be selected only if husband and wife are purchasing property)" is equivalent to tenants by the entirety?

I suspect that to be the case & if it were me I’d reach out to both title companies to make sure the deeds were titled the same way. I don’t know whether DVC would create 2 different memberships if the deeds were titled differently - perhaps having the same names is all they’ll require & they won’t care, but at this point it should be an easy fix, so I’d just do it so as to not worry about it.
The title companies deal w/ DVC all the time & while they can’t give you legal advise about the best way to hold title, they may know how DVC treats differently titled deeds w/ the same names.