DVC Ownership

[jcodespoti]

Can I put the ownership of my DVC in My companies name or does an individual have to own it? I can't find my P.O.S.


Joe in CT

 

[Tinkrbell]

I'm pretty sure that per FL timeshare law, an individual ownership is required. I think that is also why they require married couples to be there together. No backing out that way.

Timeshare real estate in FL is pretty complex, so you most likely will need to check with your guide.

 

[Simba's Mom]

What do you mean "be there together". I know that in our case, I took the tour alone (DH is a "whatever you want to do is fine" type), then just brought the video etc. home for DH to see and give his opinion on. Our guide never minded when I showed up for the tour alone, actually the tour was well over 2 hours, making me wonder how long it would have been if DH HAD been there!

 

[Tinkrbell]

I just meant signing the papers, and having them notarized etc. I don't think the tour has anything to do with actually signing up.

I DID ask if I could join without my husband on the paperwork (He's a DVC holdout) and they said sorry, but no, due to FL law.

 

[Dean]

Originally posted by Tinkrbell
I just meant signing the papers, and having them notarized etc. I don't think the tour has anything to do with actually signing up.

I DID ask if I could join without my husband on the paperwork (He's a DVC holdout) and they said sorry, but no, due to FL law.

Maybe there are lawyers in the bunch that can address the issue. I'm pretty sure an individual can buy real estate in FL including DVC. Selling without the spouse will be another matter. I know one of my deeds has only my name on it due to the stupidity of a Miami lawyer and my lack of info in this area at the time. He offered to fix it for a fee, I should have reported him to the Bar. It was a resale so I'm sure retail could be different.

My wife was not happy as you don't get a card when you add someone as an associate member. So rather than paying another $100 to fix it we just bought another contract with her as the primary. Then they sent us cards for each of us FOR BOTH CONTRACTS.

 

[Cruelladeville]

Interesting--my daughter is the sole owner of her DVC contract, bought directly from Disney. They asked her to remove his name, since he's a slug--not really, I added that part. But they did ask to remove his name because he's got terrible credit in his name. So she did, and a good thing, too, since 1 year later he moved out, and declared bankrupsy, so my daughter is now responsible for everything.

 

[floridafam]

Either the husband or wife can buy DVC seperately.

 

[TheRustyScupper]

1) Florida Timeshare Law talks about purchasers as "persons or entities". Thus, a corporation should have no problem buying a timeshare interest.

2) You and your spouse are asked to attend the presentation, ONLY so one spouse doesn't say "let me check with my spouse" and waste time or use this as an excuse to not buy. No salesman wants to try to sell on a second visit.

3) The title can be placed into one spouse's name and not "Mr & Mrs". I've heard of no Florida regulation that makes both sign when selling. This law pertains only to retirement accounts (401k accounts are a typical example), so one spouse does not raid the retirement savings of the family.

 

[Dean]

Originally posted by TheRustyScupper
2) You and your spouse are asked to attend the presentation, ONLY so one spouse doesn't say "let me check with my spouse" and waste time or use this as an excuse to not buy. No salesman wants to try to sell on a second visit.

Actually DVC is one of the few timeshares that will even allow only one spouse to tour. Most say no and some even say no to singles even if not currently married.

 

[JimC]

Would DVC want to permit corporate ownership of contracts? Could it be harmful to the program?

 

[BCVOwner2002]

I was wondering the same thing - Corporate Ownership! I work in a Sales department and thought DVC would be a great idea. This would allow management to "give" a vacation a year to a top performers for the next 40 years. Annmarie

 

[MdmMim]

I DID ask if I could join without my husband on the paperwork (He's a DVC holdout) and they said sorry, but no, due to FL law.

Hmmm.... I was in Fl (solo) when the BCV were first offered. Since they weren't going to be for sale in NY for months, I was given the option of a separate contract in my own name, even though DH and I are both on our BWV contract.

 

[Tinkrbell]

Interesting.... How so many people can get different answers. I know I SPECIFICALLY asked if I could join separately!!

I'll bet each person/couple must be taken into consideration differently. It was a while back when we toured, so maybe things have changed.

 

[jcodespoti]

The only reason I asked about corperate ownership is so I could have the company pay for while I used (or my other partners). It just would make much more sense from a money standpoint. I just thought I read or heard that only individuals or couples could have actual title. I have to ask my salesman.


Joe in CT

 

[Bottlejet]

The bottom line is that as long as you have the money, they will not refuse the sale. You could title it in your cat's name if that's your desire.

 

[jmminarik]

Anyone have their contract handy? I thought DVC was expressly designed to prevent companies from owning. Part of the reason (as I recall from my guide's spiel) for ROFR was to prevent companies from buying in the after market.

 

[Dean]

I think their intent was to prevent anyone from buying enough points to take over or stay for an extended period of time. The limits are 2000 per person per resort and 5000 total per person.