Giving DVC to family

[ford family]

We have had DVC at the BWV for many years with an expiration in 2042.
We enjoy it as a family (one of our DDs is there with friends at the moment) but we wonder what to do with the points when transatlantic travel becomes too burdensome and insurance gets expensive as we age.
We read somewhere that it was possible to give your points to your children but cannot find any more details.
Anyone heard of this?

ford family

 

[Sandisw]

You can contact MA and tell them you want to do a gratuitous transfer to your DD. They will let you know the process to change title.

You can also use a company like LT transfers, www.lttransfers.com which also can handle it for you.

Fees can be different depending on who you use.

 

[drusba]

Yes, contact MA and for info on the process. Basically, what would need to be done is for a new deed to be prepared under which the current named member/owners transfer the real estate interest to the new designated owner or owners. There are some costs involved --peparation of the deed and filing fees for filing the new deed with the Orange County Comptroller, and using a title transfer company like LT Transfers is advisable so that everything is done correctly.

As long as it is a gratuitous transfer, i.e., you do not sell it to your relative, such as for some agreed to price, the transfer will not be treated by DVD as a resale and the recipient will have all the same reservation and membership extras rights that you have.

 

[CarolynFH]

We didn’t give our points to our DD, we simply added her to our ownership, but the process is the same. It’s possible to do on your own - see this thread https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/ - but we used LT Transfers https://www.lttransfers.com/. They’ve handled a number of gratuitous transfers for my family and are very efficient and at a reasonable cost.

 

[walt34]

Before you do this, PLEASE PLEASE PLEASE, check with your children. Do they really want this?????? If not, please sell it before you die. Otherwise THEY will be stuck dealing with all of this.

I think timeshares are a scam and horrible things and now we have 2 of them we are trying to refuse.

I don’t believe you can actually do a transfer among the living without someone’s consent - so, they will be involved.

I don’t think the statement that timeshares are a scam applies to DVC. At least I don’t see anyone giving it away for free (as it is with other timeshares). This might change in the future (possibly Vero, Hilton Head) but as of today, DVC contracts are generally not worthless.

 

[Sandisw]

Let's stop the arguing back and forth. Sharing advice on being cautious to leave DVC to your heirs is fine. Getting into a back and forth about the definition of "scam" isn't needed.

Back to topic....we added our adult kids to some of our deeds because they wanted to remain owners. We have other ones that can be sold by us, or transferred into their names late if they want more.

From what I have heard, heirs can refuse any level of inheritance...but, as long as the parks exist, then there will be a market for DVC contracts...even if one has to give it away....

 

[Maistre Gracey]

Over the years I have fallen out favor with Disney in general, and have come to disagree with newer DVC polices. I have always considered most DIRECT purchases of timeshares to be slimy.

That said, I have never considered DVC to be a scam.
It IS different than your normal timeshare.

 

[Chuck S]

Several posts in this thread have been removed. Also any post that quoted the posts have been removed.

 

[TexasProud]

Please check with your family. We are stuck with many of these worthless investments. Don't saddle your children with them.

 

[kanerf]

It sounds like you are overseas which will complicate things a bit. First, you should seek out a local attorney who is used to dealing with such things and can get things notarized for you, which is normally required for such documents. Another option, which again may be more difficult in your situation is to create a trust and transfer the contracts into the trust and then name your children as the trustees. You can also transfer other things into the trust as well. We did this with my parents when they became less capable of managing their assets.

 

[DisTravels]

Please check with your family. We are stuck with many of these worthless investments. Don't saddle your children with them.

I believe you can refuse specific items being inherited - including timeshares.

Timeshare maintenance fees go in one direction (up) and they are an annual commitment.