How to insure that new contract is linked to new contract?

[DISNEY FIX]

We buying an add- on resale and it has the same UY as our first contract(resale). Will Disney automatically link them together, so they become one.
Thanks

 

[disneynutz]

Not necessarily.

The title on the new contracts have to match the existing.
Escrow has to notify Disney that you want the new added to the old. Everyone has to do their job correctly.
Disney will not fix it later.

 

[DISNEY FIX]

Have you had experience in this area? Any suggestion to help this out?

 

[disneynutz]

This is from our 16 contract experience buying from 4 different brokers over a several year period.

We have found that other than a few exceptions, what's important to you, isn't important to your broker or escrow people, especially after they know that they have a deal. I called and would verify everything during the process and during the purchase of our contracts, found incorrect contract numbers, wrong title information, wrong sellers contract information, and even someone else's contract sent to us by Disney.

Call your escrow company and provide them with the way that your current contract is titled. Ask them to notify DVD that you want the new contract to be a sub contract to your master. Call DVC Member Administration and obtain the info from them if you have to, and let them know that you are adding on a sub contract.

I called the escrow company and asked them to notify us when they sent the paperwork to DVD. I gave it a couple of days and started checking with Member Admin to see if there were any problems. On 2 of our contracts, they had to send the paperwork back to escrow for correction.

Most members don't have problems, or if there are problems, they never know it. I think that some of the longer processing times are due to problems that cause delays in closing.

 

[DISNEY FIX]

Holy cow.... Thanks for the heads up I am glad I asked.

 

[DISNEY FIX]

Call your escrow company and provide them with the way that your current contract is titled. Ask them to notify DVD that you want the new contract to be a sub contract to your master. Call DVC Member Administration and obtain the info from them if you have to, and let them know that you are adding on a sub contract.

Does it matter if a (new purchase) 200 pt contract is the sub contract a smaller 150 pt contract? Or is that just bucause the (I already own)150 was purchased first?

Thanks for taking the time to educate me on this.

 

[Chuck S]

Whichever contract was purchased first will be xxxxx.00, followed by xxxxx.01, xxxxx.02 etc, in the order purchased. For DVC bookkeeping purposes, if they are the same resort, they will function as a single contract. But legally, they are separate, and can be sold off separately in the future.