How can I do this?

[SusanWasHere]

Ok, I have owned 150 points for 4 years. Made a huge mistake at buying time by not adding my dad to the deed. My parents had given me $3000 towards my down payment since they knew they would be coming a lot on the trips. Without knowing about the DVC discounted pass ahead of time needing everyone to have the same address - I thought nothing of it. In hindsight, I could kick myself bc they are in their 70s on a very limited budget and buying park passes is killing them!

So now I'm going to buy a resale of 150 points, going to pay for it - not do any financing. My question is, how can I do it so my dad's name is on there? Can I say he is buying it and put my name on also? My mom has the same address as him so she'd be able to get a discounted pass. Anyone have any ideas? They go all the time and have given me money so I feel it's only fair they can get a cheaper pass as well. I wish DVC would let you purchase up to 4 passes or something. I mean even many people have adult children they vacation with that no longer live with them. Any ideas? Thanks a ton!

 

[RobDoc]

Yes, you can purchase a resale and have your parents on the deed so they would have access to the DVC benefits. It would not be an add-on to your original contract since the deed will not be the same. All parties on the deed will be financially responsible, but that shouldn't be a problem since you will likely be paying the annual fees anyway.

Enjoy!

 

[Chuck S]

You may deed the resale any way you wish. However, because the names are not identical to you original contract, it will be a completely separate membership, even if it is the same use year as your original contract. If you wish to use points from both contract from any one night of stay, you'll have to use your annual transfer. You'll also need to remember that banking, borrowing, etc. will also be completely separate.

 

[SusanWasHere]

Oooh, thank you for the responses. Now if it's in my dad's name, is there any way for my name to be on it as well since I'd be handling the reservations and points?

 

[Chuck S]

Oooh, thank you for the responses. Now if it's in my dad's name, is there any way for my name to be on it as well since I'd be handling the reservations and points?

Certainly, just like a house, it can have multiple owners that live at multiple addresses.

 

[LisaS]

Oooh, thank you for the responses. Now if it's in my dad's name, is there any way for my name to be on it as well since I'd be handling the reservations and points?

You can have multiple names on the deed -- you, your dad, your mom, etc. That way your mom gets her own DVC membership card as well.

 

[DVCGeek]

Another thought; especially since it is a family member, wouldn't it be possible to just modify ownership of the original contract to include your dad {Perhaps joint tenancy with right of survivorship?} first [I think I've read that Disney charges a $300 or so fee] and then buy the resale? If you get the same use year and title it exactly the same as your revised existing contract then it can all be under one membership...

 

[DebbieB]

Do you have brothers or sisters? Be careful that it will not become part of your parent's estate if they pass away. Depending on the state, you could also end up paying estate taxes on their share. I was executor for my mom's estate and it killed me to pay over $4,000 to PA in estate taxes because we didn't have the house taken out of her name.

 

[ClarabelleCow]

Another thought; especially since it is a family member, wouldn't it be possible to just modify ownership of the original contract to include your dad {Perhaps joint tenancy with right of survivorship?} first [I think I've read that Disney charges a $300 or so fee] and then buy the resale? If you get the same use year and title it exactly the same as your revised existing contract then it can all be under one membership...

I would think that would be the best approach. That way it is one contract with sub contracts. Much easier to track than two totally different contracts.

 

[theww228]

I had my brother-in-law, who is a lawyer, change our deed to add my wife's parents to our contract. Disney wanted $300, he charged me a bottle of wine, but he said that he would only charge about $80 if someone was walking into his office off the street. You might be able to add them to the deed for less than $300 by using your personal lawyer.

 

[DenLo]

Dean explains on another thread about how to go about adding a name to contract at a lower cost than Disney charges. He says you should be able to do this for about $30. http://www.disboards.com/showpost.php?p=34737002&postcount=20