Initial 100-pt. buy-in @ AKV...can it be split into two 50-pt. contracts?

[HeatherDew]

I know this can be done for add-ons, but has anyone ever been able to do this for their initial purchase into DVC?

If so, please post or PM me ASAP!

 

[5forDiz]

You can do this on your first purchase into DVC if each contract is written up with the exact same owner or owners names listed ( & in same order).

Many prefer to do this thinking that perhaps sometime in the future they may not need as many points so they can sell off one of their contracts, others in order to make it easier to designate a contract for each heir in their will.

Splitting 100 points into two 50 point contracts must be done when the purchase process begins. If you purchase one contract containing 100 points it will stay that way; you would not be able to, let's say, a few months later split it into more than one contract.

 

[Deb & Bill]

If you don't currently have any DVC contracts, you'll have to buy the initial contract as one big contract. So if you were buying a 160 point contract, it would have to be 160 points. If you are getting the special 100 point contract, it will have to be 100 points. If you already had a contract of any size, you could divide the contract into as many contracts as you wished as long as they were not less than 25 points.

So if it is an add-on contract (to any DVC resort), you could split it up. If it is a master contract, you can't split it up.

 

[Dean]

If you don't currently have any DVC contracts, you'll have to buy the initial contract as one big contract. So if you were buying a 160 point contract, it would have to be 160 points. If you are getting the special 100 point contract, it will have to be 100 points. If you already had a contract of any size, you could divide the contract into as many contracts as you wished as long as they were not less than 25 points.

So if it is an add-on contract (to any DVC resort), you could split it up. If it is a master contract, you can't split it up.

Agreed, can't split it for the initial purchase. I am aware of one or two exceptions where an owner did an add on, bought enough for a new stand along contract and split the purchase. The difference was they titled the "add on" differently by adding another person which goes against the general rules we've come to know.

 

[HeatherDew]

Thanks for the quick replies!

5forDiz, I sent you a PM.

 

[5forDiz]

Sorry Heather !!! Im mistaken ; as pps have pointed out.
Glad they gave you info you needed.

 

[KelNottAt]

In this economy it might help sales if DVC offered a little flexibility in the purchase rules. For example, still 160 point minimum, but allow it to be in 1 - 4 contracts.

 

[Deb & Bill]

In this economy it might help sales if DVC offered a little flexibility in the purchase rules. For example, still 160 point minimum, but allow it to be in 1 - 4 contracts.

They already have by allowing the 100 point initial contract at AKV.

 

[WilsonFlyer]

Hmmm...

I added on (a .1 contract) 160 @ BLT to get founding member status. My original is @ AKV (160 min). Are you guys saying I can call and get my 160 split up into 2x80 just by asking? I just returned my paperwork via FedEx on Thursday.

Just seeking clarification because it sounds like I can.

I thought once a contract was inked it was a done deal. What did I misunderstand?

Thanks.

 

[Dean]

Hmmm...

I added on (a .1 contract) 160 @ BLT to get founding member status. My original is @ AKV (160 min). Are you guys saying I can call and get my 160 split up into 2x80 just by asking? I just returned my paperwork via FedEx on Thursday.

Just seeking clarification because it sounds like I can.

I thought once a contract was inked it was a done deal. What did I misunderstand?

Thanks.

If you're not too late in the sales process, yes you can. You'll need to redo the contract and may lose out on being a founding member it that applies.

 

[WilsonFlyer]

If you're not too late in the sales process, yes you can. You'll need to redo the contract and may lose out on being a founding member it that applies.

Ahh. Thanks Dean. Can't do it "after the fact". that's what I had misunderstood above. Thanks for the clarification. Not worth that status loss to me but at least now I know.

Thanks!

 

[kerrik]

We split up our initial contract at SSR into 3. Maybe I am confused.... We bought 501 points and split it up into 3 equal contracts of 167. Is it becuase each one was more than the required minimum 160 that we were able to split it up? Must be.....we wanted to have one to leave to each of our 3 children so we do all of ours into 3's!

 

[chalee94]

We bought 501 points and split it up into 3 equal contracts of 167. Is it becuase each one was more than the required minimum 160 that we were able to split it up?

yep - only the first contract had to be over 160 pts, though.

after that you break things up however you wanted.