If you do an additional contract, can you add an additional purchaser ?

[PHILCT]

If you do an additional contract, can you add an additional purchaser.

I am curious if I can get an additional purchaser on the new contract, who lives at a different address, in order to obtain annual pass discount perks.

Currently you can have like 200 points with 8 people at the same address and get annual pass perks for all of them. On the other hand you can have 1000 points for a solo person living at one address, and get one annual pass perk for just that one person.

Also how much would it cost to add an additional purchaser to the deed of existing contracts?

Is it worth it for the perk?

Thanks, Phil

 

[RobDoc]

As long as the new purchase is a resale or new purchase from DVC (not an add-on), you can title the deed with different names than your other contract(s). To purchase this way from DVC, it will have to qualify with the minimum number of points for the resort being purchased. Resales of any size may be titled as you wish.

If you just want to make an add-on to your original contract, the deed will need to be titled the same as the original contract.

You can add others to the deed. It will require recording the new deed and the mortgage would need to be paid in full to change the title. Be aware that eveyone on the deed would have financial responsibility - so if you were to add someone who later filed bankruptcy or divorce, it could affect your ownership of the contract.

 

[CarolAnnC]

If you do an additional contract, can you add an additional purchaser.

I am curious if I can get an additional purchaser on the new contract, who lives at a different address, in order to obtain annual pass discount perks.

Currently you can have like 200 points with 8 people at the same address and get annual pass perks for all of them. On the other hand you can have 1000 points for a solo person living at one address, and get one annual pass perk for just that one person.

Also how much would it cost to add an additional purchaser to the deed of existing contracts?

Is it worth it for the perk?

Thanks, Phil

This AP discount "perk" can be discontinued at any time. Hardly worth the effort to become a purchaser just for that discount..

Buying DVC with another individual is a large commitment. You are both lien holders and must both be on the financing, unless you are paying in full with cash of course. Plus, the asset of ownership is shared, thereby if any owner has credit problems, bankruptcy, divorce, etc. the asset is then subject to being shared and/or distributed by the courts. You could end up owning with the other owner's ex-wife or ex-husband, for example, or even have the asset ordered to be liquidated per the court.

 

[Dean]

If you do an additional contract, can you add an additional purchaser.

I am curious if I can get an additional purchaser on the new contract, who lives at a different address, in order to obtain annual pass discount perks.

Currently you can have like 200 points with 8 people at the same address and get annual pass perks for all of them. On the other hand you can have 1000 points for a solo person living at one address, and get one annual pass perk for just that one person.

Also how much would it cost to add an additional purchaser to the deed of existing contracts?

Is it worth it for the perk?

Thanks, Phil

You'd have to buy a "separate" contract. You can change the name for as little as about $30, basically just recording fees. For the right situation it can be well worth it, not so much for others.

 

[JWG]

Keep in mind, two deeds titled differently will mean two different membership numbers as well.

 

[JimMIA]

Dean's idea above is probably the easiest and least expensive way to accomplish what you're asking. Understand though, that in putting other people on the account they become owners of the account and you will need their approval for selling, retitling the account, etc in the future. They will also obviously have full ability to make or cancel reservations, rent points, bank, borrow, etc, etc -- everything you can do without limitation.

I personally would not change the ownership of my account just for a perk that could go away with a stroke of the Mouse's pen, but if it makes sense for other reasons (estate planning, for example) that's a different story.

 

[Dean]

Dean's idea above is probably the easiest and least expensive way to accomplish what you're asking. Understand though, that in putting other people on the account they become owners of the account and you will need their approval for selling, retitling the account, etc in the future. They will also obviously have full ability to make or cancel reservations, rent points, bank, borrow, etc, etc -- everything you can do without limitation.

I personally would not change the ownership of my account just for a perk that could go away with a stroke of the Mouse's pen, but if it makes sense for other reasons (estate planning, for example) that's a different story.

The biggest risk is if anyone on the contract has financial issues. The best way to approach this for many is do an add on of 25 points then after that change the title. You can then routinely transfer those points to your main contract to use OR do limited days and link to any other contract. A little work, essentially no risk and relatively small investment. You then put everyone in the family who might need the perks on that one small contract. Not sure the limit on numbers on the deed ? 8. NO firm in their right mind is going to go after a 1/2 to 1/4 ownership of 25 points worth maybe $2K at most. While I'm not sure the proper wording, I know it's possible to word the title in such a way that if anyone passes, it reverts to the rest of the group.

 

[JimMIA]

The biggest risk is if anyone on the contract has financial issues. The best way to approach this for many is do an add on of 25 points then after that change the title. You can then routinely transfer those points to your main contract to use OR do limited days and link to any other contract. A little work, essentially no risk and relatively small investment. You then put everyone in the family who might need the perks on that one small contract. Not sure the limit on numbers on the deed ? 8. NO firm in their right mind is going to go after a 1/2 to 1/4 ownership of 25 points worth maybe $2K at most. While I'm not sure the proper wording, I know it's possible to word the title in such a way that if anyone passes, it reverts to the rest of the group.

You are talking about two separate accounts though, right? In order for contracts to be held in the same account they have to be titled identically, I believe.

 

[Dean]

You are talking about two separate accounts though, right? In order for contracts to be held in the same account they have to be titled identically, I believe.

Correct, that point had been made above.

 

[DenLo]

If the other person you are want to add to the new contract is not providing money for the purchase, I would have problems adding that person's name to the contract, unless it was my adult child. But do consider all of the problems mentioned in the posts above.

I would only want my DH and myself to be in control of how the points are being used. Also if this contract is not an add on to your current contract, you run into the problems of using points from two different contracts. You cannot commingle the points for the same night since you'll have two master contracts without using a transfer (one transfer per UY).