DVC AP for college son

[LouisianaDisneyFan]

When I purchased DVC I made my adult daughter an owner on my contract. She does not live in my home. Actually when we get mail from DVC, she gets everything I get to her home address (planner, promotions, even 15 yr. lithograph). I knew for her to get the same perks for herself and her family she would have to be an owner.

What a VERY clever idea! Maybe that is the best way for us to modify the deeds for our kids' graduation... just add them on as co-owners with me. Then, we can pay the maintenance fees, but they will have full ownership privileges. This is definitely feeling like a "Eureka!" moment. Thank you for the idea!

 

[Chuck S]

What a VERY clever idea! Maybe that is the best way for us to modify the deeds for our kids' graduation... just add them on as co-owners with me. Then, we can pay the maintenance fees, but they will have full ownership privileges. This is definitely feeling like a "Eureka!" moment. Thank you for the idea!

But, keep in mind, once they are on the deed, it is then legally an asset of theirs, whether they paid for any of it or not. If they should happen to have financial difficulties and face any sort of liquidation, it would likely include the DVC you paid for.

 

[LouisianaDisneyFan]

But, keep in mind, once they are on the deed, it is then legally an asset of theirs, whether they paid for any of it or not. If they should happen to have financial difficulties and face any sort of liquidation, it would likely include the DVC you paid for.

True, but actually it would probably allow for a bit more security in keeping the asset if either of the kids does indeed have financial difficulties in the future. If either of them did enter proceedings that required liquidation, I would assume that the court would offer first opportunity to purchase 1/2 of the asset at market value to the co-owner (me) whereas if we weren't on the deed together, then it would be sold outright and we would completely lose the investment. Also, I think if a parent is also on the deed, then it clearly delineates the property as a separate asset (early distribution inheritance) rather than community property, doesn't it? Does this sound correct?

 

[n2mm]

But, keep in mind, once they are on the deed, it is then legally an asset of theirs, whether they paid for any of it or not. If they should happen to have financial difficulties and face any sort of liquidation, it would likely include the DVC you paid for.

Yes, you are correct, but answered before I did. This is not a decision for everyone. There are legal issues, but I weighed them prior to my decision. Actually I would be more concerned with my spouses financial stability than my daughter's stability, so I would've dropped my spouse off my contracts before my daughter, but he was a CM and I needed that discount when I first bought in. I actually have other children, but they don't share the love of Disney and probably go once every five years. My daughter that I share my contracts with is also the executor of my will. She will also be sole owner of our contracts one day too -- unless I sell them prior. I would suggest anyone consult a financial planner or estate planner before doing any thing like this. I did and knew this worked for me.

 

[CarolAnnC]

But, keep in mind, once they are on the deed, it is then legally an asset of theirs, whether they paid for any of it or not. If they should happen to have financial difficulties and face any sort of liquidation, it would likely include the DVC you paid for.

Just one more thing on this - if your children are of college age, this will be considered an asset of their and may impact their financial packages for school loans. It will have to be reported as a financial asset in their names.

 

[GoofyTraci]

is your info on the pass names or picture? how does anyone know it is yours? also if you get a pass for your imediate family members in your house for a child and you dont renew all of the passes again does this matter?
so if you get to adult passes and two child passes do you have to renew all of the passes the4 next year? does anyone/dvc know

 

[n2mm]

is your info on the pass names or picture? how does anyone know it is yours? also if you get a pass for your imediate family members in your house for a child and you dont renew all of the passes again does this matter?
so if you get to adult passes and two child passes do you have to renew all of the passes the4 next year? does anyone/dvc know

You have to prove identity by showing your picture ID and blue DVC member card in order to get your AP. Only children do not have to have an ID to show.

 

[GoofyTraci]

You have to prove identity by showing your picture ID and blue DVC member card in order to get your AP. Only children do not have to have an ID to show.

I know adults have to show id to get the pass and dvc member card. My question is is your info on the pass? Is your pic on it your name? wanted to know if you bought four passes and only renew 3 passes the next year is that ok? does dvc know our pass info?

 

[dianeschlicht]

I know adults have to show id to get the pass and dvc member card. My question is is your info on the pass? Is your pic on it your name? wanted to know if you bought four passes and only renew 3 passes the next year is that ok? does dvc know our pass info?

Your name is on the pass as well as the expiration date. There is no picture, but you do have the finger scan attached to the card. You can buy or renew less than what you originally purchased without any problem.

DH and I have always had APs, even before DVC discounted them. Our grown children though do not. One of them had an AP when we first got the discounted ones, because he was back living at home at the time. We didn't renew it though when he moved out again. To do so would have been wrong, and he would not have been able to pick it up with an ID that had a different address on it.

 

[GoofyTraci]

Your name is on the pass as well as the expiration date. There is no picture, but you do have the finger scan attached to the card. You can buy or renew less than what you originally purchased without any problem.

DH and I have always had APs, even before DVC discounted them. Our grown children though do not. One of them had an AP when we first got the discounted ones, because he was back living at home at the time. We didn't renew it though when he moved out again. To do so would have been wrong, and he would not have been able to pick it up with an ID that had a different address on it.

thanks for the info. I was sure how to keep up with who's was who's since we may go with out our son in oct. glad to know our name is on them to keep up with that better.