DVC Annual passes for extended family

[WillowRain]

Hi all. My mom bought into DVC on our trip last week, and upgraded her hopper and my grandmas to Gold passes. We are wondering, can she upgrade the rest of our passes too? Or do we have to be on the deed, or in the same household to do so? If not we will just get the platinum, but would love to save a few hundred if possible!

 

[DebbieB]

Hi all. My mom bought into DVC on our trip last week, and upgraded her hopper and my grandmas to Gold passes. We are wondering, can she upgrade the rest of our passes too? Or do we have to be on the deed, or in the same household to do so? If not we will just get the platinum, but would love to save a few hundred if possible!

Adults have to have ID with the same address.

 

[WillowRain]

Adults have to have ID with the same address.

What about adding us on the deed? Do you know if that is possible?

 

[Matty B13]

What about adding us on the deed? Do you know if that is possible?

You can be added to the deed, but there are several issues that come with that. This contract would be come part of "your estate" as well when dealing with probate issues, ie divorces. As well as financial issues, tax liens and bankruptcy. You would also be responsible for the maintenance fees on the contract.

 

[WillowRain]

You can be added to the deed, but there are several issues that come with that. This contract would be come part of "your estate" as well when dealing with probate issues, ie divorces. As well as financial issues, tax liens and bankruptcy. You would also be responsible for the maintenance fees on the contract.

This is one of those things that she would need to leave to us in her will anyways, as my sister cannot afford it. She should have not been so implusive with the purchase, and waited to talk with me about it, but alas she did, and now I think she should add me and that way if something does happen to her in the next 10 years (she's diabetic and has MS) at least if I am already on the deed I don't have to deal with extra headaches with her will.

 

[starry_solo]

This is one of those things that she would need to leave to us in her will anyways, as my sister cannot afford it. She should have not been so implusive with the purchase, and waited to talk with me about it, but alas she did, and now I think she should add me and that way if something does happen to her in the next 10 years (she's diabetic and has MS) at least if I am already on the deed I don't have to deal with extra headaches with her will.

Are you planning to make payments towards the purchase of the DVC?

 

[sndral]

I had my adult son on title for both of my DVC contracts partly to avoid probate issues and also so he and his household would have access to member perks. But, as mentioned there are potential liabilities involved as well. If your mom is w/in 10 days of her purchase & she wants you on the deed have her call her guide - you'll probably have to sign some paperwork, my son did on my contracts (purchased resale, tho'.) Make sure the guide knows you want to avoid probate so that they title the property correctly (w/ right of survivorship I think is the language.)

 

[KAT4DISNEY]

Heck - if she signed 10 days or less ago she can completely rescind the purchase and investigate a bit more. Who knows if the resort she was sold was the one that she or any of you would want if owning DVC even makes sense at all. The paperwork on how to rescind is included with the signed paperwork. It just takes a fax to get that cancelled and then really investigate. If it turns out you all think it makes sense then start the purchase at that time and get everyone on the deed that should be. As mentioned - that does come with some liability and concerns if done that way.

 

[WillowRain]

Heck - if she signed 10 days or less ago she can completely rescind the purchase and investigate a bit more. Who knows if the resort she was sold was the one that she or any of you would want if owning DVC even makes sense at all. The paperwork on how to rescind is included with the signed paperwork. It just takes a fax to get that cancelled and then really investigate. If it turns out you all think it makes sense then start the purchase at that time and get everyone on the deed that should be. As mentioned - that does come with some liability and concerns if done that way.

I totally get that. It does make sense if we are taking a trip every other year for the next 10 years, especially staying in the MK resorts. She bought at Copper Creek, which was apparently the only thing left. We are fine with that location, going to book there for Sept and if we change our mind at 7 months try to move to BLT. She also plans to visit Aulani in the future, so surely in the long run this is the cheaper option. Heck, we rented points and paid near 6k for a 10 night stay at BLT, so within 30 nights it's worth it. Retail wise, we would have spent close to what she bought in for on 1 stay, which blows my mind!

 

[supersnoop]

which was apparently the only thing left.

That’s what they’re actively marketing, but all resorts are available; direct or resale.

 

[supersnoop]

This is one of those things that she would need to leave to us in her will anyways, as my sister cannot afford it. She should have not been so implusive with the purchase, and waited to talk with me about it, but alas she did, and now I think she should add me and that way if something does happen to her in the next 10 years (she's diabetic and has MS) at least if I am already on the deed I don't have to deal with extra headaches with her will.

Did she finance? Do you want the liability to pay the loan if she passes? If it’s in her name and she dies, then it would be disposed by the estate. If you’re on the deed, you’ll have to be on the loan, too. Do you want that responsibility?

 

[WillowRain]

That’s what they’re actively marketing, but all resorts are available; direct or resale.

Interesting, not how she said it was explained to her. She called about adding us on title and her rep is on a cruise. She's going to talk to him in a week when he returns.

Did she finance? Do you want the liability to pay the loan if she passes? If it’s in her name and she dies, then it would be disposed by the estate. If you’re on the deed, you’ll have to be on the loan, too. Do you want that responsibility?

Yes she financed, My sister and I would split the payments if anything ever happens to her. She's going to call her attorney tomorrow to discuss all of that for her will and what we would need to do.

 

[Matty B13]

I would have her rescind the contract right away and then discuss all the options for ownership and who will be on the deed. You won’t have any problem getting points at CCV, at some of the other resorts your family might have to wait a few weeks to get direct points.

Take your time and discuss ever option with your mother, along with reading up on how DVC ownership works here on the DIS boards.

 

[KAT4DISNEY]

Interesting, not how she said it was explained to her. She called about adding us on title and her rep is on a cruise. She's going to talk to him in a week when he returns.

Yes she financed, My sister and I would split the payments if anything ever happens to her. She's going to call her attorney tomorrow to discuss all of that for her will and what we would need to do.

Waiting a week would almost certainly be too long to make a change. She should speak with someone else or go ahead and rescind and start the process again after the details are ironed out. Otherwise you may be left with needing to change the deed after the fact and while that isn't terribly difficult as I understand it takes time and there will be a cost. Better to get it right to start and there's only a short 10 day time that you have the opportunity to back out and get the ducks all in a row. That costs nothing and it will be just as easy to buy again as it was the first time. As mentioned CCV is not the only option for sale but guides want to sell that which they are directed to - and now that's CCV.

 

[LauraLea]

She needs to rescind now and you all need to clear the pixie dust from your eyes. Signing a contract while on a vacation is exactly the target DVC is going after. They are preying on uneducated vacationers with pixie dust in their eyes.

Research, research and research some more. Then decide what options will be best for all.

Laura

 

[sndral]

Interesting, not how she said it was explained to her. She called about adding us on title and her rep is on a cruise. She's going to talk to him in a week when he returns.

Yes she financed, My sister and I would split the payments if anything ever happens to her. She's going to call her attorney tomorrow to discuss all of that for her will and what we would need to do.

The guide has made the sale and knows if he/she delays until after 10 days it’s a done deal as next week will be too late to rescind. Your mom could call back and ask to speak to the guide’s supervisor regarding changing title, but if she borrowed to buy it they’d have to rewrite the mortgage so perhaps not worth the hassle to your mom.
That said - since Copper Creek is the new DVC it does make sense to buy it direct (as opposed to resale) so if she likes the resort (and WL is beautiful) and sees this as something she wants and can afford then more power to her.
How many points did she buy and what’s her use year?

 

[WillowRain]

The guide has made the sale and knows if he/she delays until after 10 days it’s a done deal as next week will be too late to rescind. Your mom could call back and ask to speak to the guide’s supervisor regarding changing title, but if she borrowed to buy it they’d have to rewrite the mortgage so perhaps not worth the hassle to your mom.
That said - since Copper Creek is the new DVC it does make sense to buy it direct (as opposed to resale) so if she likes the resort (and WL is beautiful) and sees this as something she wants and can afford then more power to her.
How many points did she buy and what’s her use year?

150 and August. I spoke to her again and CCV was offering more incentives, less down up front, bonus points. So right now she has 150, UY August she will get 150 more. We sorted it out. We plan to go in Sept and then again in Dec, and then do a Hilton Head or Hawaii trip the year after, because not going near SWL until 2021. And my husband and I saw the WL, she did not, they toured at SS lol. I am fine with that as it's a MK resort. It will be tough to stay anywhere else. She does not want to have to re-write the contract because the interest rate could go up depending on my credit.

You are SO right about how they market though. She even said "You left Grandma and I alone and we wandered" WOW. They saw her coming. As long as she can afford it... We could, but I don't need to add another expense, especially since hubs only gets 3 weeks of vacation a year. Maybe in a few years when it ups to 5 lol. I am totally happy renting points if needed.

 

[supersnoop]

bonus points

They aren’t bonus points. That’s just part of the marketing. You get what you pay for based on when you buy.

 

[WillowRain]

They aren’t bonus points. That’s just part of the marketing. You get what you pay for based on when you buy.

Oh well okay. Whatever you want to call them, by Sept we have enough for a week in a 2 bedroom on the lake.

 

[kboo]

Oh well okay. Whatever you want to call them, by Sept we have enough for a week in a 2 bedroom on the lake.

If you do, just make sure you bank your current points by the banking deadline. And if you're talking about a cabin, you will also need to borrow points into the current UY.