Gifting of DVC contract & points

[BillD]

Although I have lurked on these boards for a while, this is my first post.

My in laws want to give their DVC club contract and points to my wife and myself. There will not be an exchange of money. Does anyone know if this is possible and how we would go about doing this? They have 250 points at OKW.

 

[JimFitz]

Lucky #@#@!#!@

I am not sure about this, but I would call Member Services (your inlaws should have the number).

 

[Chuck S]

I would call member services. You'll still have to get Disney to issue a statement saying they are not exercising the Right of First Refusal...so you may be transferred to member accounting and/or your guide. You'll also have to have a new deed drawn up and filed with Orange County.

 

[bongo59]

i am not sure but i dont think you can do it...............

 

[Figment2]

I think you will be able to do this. As Chuck points out, Disney will probably have to provide an okay as far as ROFR goes and a deed has to be filed with the county. There may be some county tax forms to complete. And, although no cash is being transferred, the county may feel there is value so will access a transfer tax of some kind.

Cyn

 

[tjkraz]

If all else fails, have the in-laws add you to the contract as associate members.

 

[RobDoc]

My in laws want to give their DVC club contract and points to my wife and myself. There will not be an exchange of money. Does anyone know if this is possible and how we would go about doing this? They have 250 points at OKW.

Absolutely. DVC contracts may be gifted to immediate family and Member Accounting can walk you thru the process. As Chuck stated, they will provide a ROFR waiver and then the deed will have to be re-recorded in your names.

Enjoy ... and WELCOME HOME!

 

[WDWsnooper]

If you want to avoid the closing costs, then tjkraz is right. If they add you as associate members, you can handle transactions, make ressies, etc. You would not be allowed to sell the contract. We have added our son as an associate....at a later time, we may transfer ownership to him. I hate to pay all the closing costs when he'll always have use of it anyway.
Just food for thought.
Snoop

 

[slimplaw]

We just did this with a 50 point SSR contract. It was transferred to my sister and BIL with no money exchanged between us. First, we did get the ROFR from DVC. We contacted Timeshare Transfers for them to handle the paper work. Their cost was $250 for doing the new paper work, filing it and getting it to Disney. There was also a $100 fee to paid to DVC for changing the paperwork. BIL did call me this week and said that this year's dues need to be paid up in full first. I'm not sure if there was a misunderstanding in that or not. Our dues are taken out of my account monthly. They are current, but we certainly are not paid up for 2005. I have not spoken with him since Tues, so not sure what their final answer was on this matter. They also planned to pay out dues monthly. It took about 2 weeks to get our waiver of ROFR. We sent signed papers to Timeshare Transfers on Dec. 10 and everything should be finished by tomorrow. Any reservation made on the current membership will need to be cancelled before points are transferred. However the points show for the current member(current use year, banked, borrowed) is how you will receive the points.

 

[Dean]

For this situation DVC gives an automatic waiver of the ROFR from what I'm told. They don't actually cancel the reservation until they are notified of the final closing.

 

[dianeschlicht]

I have a secondary question to this. My best friend has suggested she would like to gift us with her 151 OKW points in the future, when she feels she no longer needs them. Her DH passed away 2 years ago, and she is not certain she will continue to use DVC. She owns 3 other timeshares. I doubt that is a possible scenario, because she is not a family member.

 

[slimplaw]

I don't think it would matter if it was a family member or not. We did not state on any of the papers that the receiving party was related to us.

 

[Dean]

I have a secondary question to this. My best friend has suggested she would like to gift us with her 151 OKW points in the future, when she feels she no longer needs them. Her DH passed away 2 years ago, and she is not certain she will continue to use DVC. She owns 3 other timeshares. I doubt that is a possible scenario, because she is not a family member.

I've been told the automatic waiver is for immediate family only but I wouldn't be surprised if they'd let it go through if it's truly a gift. The problem is that people could take advantage of it and lie saying it's a gift when it's not.