Is it possible to buy in as a "team"?

[Cricket2]

I know two families that only go once every 4 or so years. Couldn't they buy in together, alternate turns for use and go once each every 4 years. One family could go say in 2002 and the other go in 2004 and the first again in 2006 and so on.....

They are looking for advice and I never really thought of it before like that.

What would be the problems with this that you could see other than:

1) Dues payments
2) One family stealling the others points
3) One family wishing to sell and one not

Any other potential problems? The families are related and they agree on the inital amount of points.


JC

 

[ohiominnie]

Another problem I forsee is one family deciding they LOVE to use the resort and wanting to go more than once every 4 years....finding out that DVC is such a value they'd rather go more frequently. Or, hey, BOTH families would probably decide that!!


ohiominnie

 

[Cricket2]

They visit other places on the odd 3 years. When they do go, they plan on staying for 2+ weeks.

JC

 

[DVCDAVE]

Yes, there is no reason why that can't be done. DVC protects themslves by requireing a disignated person to be appointed on the documents. That disignated person is the only party allowed to spend, bank, and borrow points.

My thinking on this differs though, as I see a multitude of problems that could arise. Besides bickering over useage, how about if one couple splits, and some judge awards the DVC interest to the non-relative in the divorce precedings. Or possibly a tort lawsuit ending in the same manner. Everyone losses.

Why not just have the two families buy there pro-rated interst on their own, and then combine their interest in an informal manner previously determined. In this manner each family has their own responsibilities, yet will allow the other family to use their points in the pre determined manner.

This method, while not only being safer from a legal stand point, also will allow a family to do add ons, and sales, to meet their own needs.

But then, what do I know ?

 

[Cricket2]

That was my first thought. They could buy seperate contracts and just trade them back and fourth. I also thought of telling them to buy in at different resorts so they would have multiple resort booking windows.

I was just looking for alternative methods of doing the same thing with some sort of benefit that I couldn't think of. There would be legal stuff to worry about, but that's not my problem.

There are plenty of disadvantages to a single contract, are there any advantages to one contract that you can think of (other than resale purchasing power).

JC

 

[Disnydad]

Back in my boating days, I knew several people who went in as "partners". They would buy a boat to "share". Every one of them eventually wound up leaving with hard feelings. Do not do it if you want to remain friends.

 

[DVCDAVE]

I can not think of an advantage of having a single contract.

You mention "resale purcahsing power" as an advantage. I am not sure what you mean. Most contracts outstanding are in the low 200's in terms of size. You may be at a disadvantge in resale if your contract is unusally large; lets say about 500 points or larger. You have to ask yourself how many people can afford to pay in excess of $35,000 with no DVC to finance the purcase for you. Therefore, I would think that 2 seperate contracts for resale would be an advantage NOT one. I often poke my nose over to the "Timeshare Store" website, and on the DVC page the small contracts of 200 and fewer points are flying off the shelve right now in a matter of a day or two.

Further, you mentioned that you recomended two contracts at seperate resorts for dual booking windows at differant resorts. While that is true, I just want to remind you that the points at resort "Y" have an eleven month priority at its resort, and a seven month at any other DVC resort, the same is true with the points at resort "X". So, just because you have two contracts totalling a certain amount of points, only the points assigned to a particular resort enjoy the eleven month priority window at that resort, NOT at both resorts. However, between banking and borrowing and alternating years between resorts, you indeed can make wonderful things happen and virtually eliminate that 7 month booking problem.

 

[Cricket2]

DVCDAVE: The point about resale power is one of if a large contract came up, they could get it at a bargain over the price of a small one. Money is not really an issue as far as financing goes. Money is always an issue as far as savings goes though. Two weeks+ at OKW + BWV for a GV or multiple 2br units would be a big chunk of points.

As far as the window issue goes, I was expecting them to not only alternate years but resorts as well (this would be in the case of multiple contracts and would eliminate the above point). If they banked a year from one, that (as you pointed out), eliminates the 7-month window for them in alternating their resort stays.

Disnydad: I know what you mean about the boat thing. I'm not sure if that's comparing apples to apples though. Boats are used with much more frequency and require maintenance and a whole slew of stuff that will not exactly apply here. They would prearrange who gets what and when well ahead of time with (hopefully) no gray areas.

I'm looking more for the kinds of technical problems like membeship cards confusion and only one copy of the newsletter and stuff like that. I'll let them fight over who gets what and when.

JC

 

[DVCDAVE]

I see; in my mind I had "resale buying power" REVERSED. You were talking about Buying resale, and I was thinking about selling on resale. Now I understand what you were trying to mean.

In any case, you are issued 2 membership cards, and can request additional ones, so that is not a problem. And, the newsletter is always available for download on the DVC Members Only website, usually weeks before I get my newsletter in the mail. The download is in .pdf format, so you need Adobe Acrobat reader to read it. That is available for download free. Usually someone on this forum gives us all a scream when the newsletter is available for download.

Promotional things like pins, totes, and liscence plates and things can be predetermined by a flip of a coin.

 

[WI_wdwfan]

I'm surprised I am the only co-owner to post! My husband and I along with his parents and one brother all bought in together back in 1994. DVC allows up to 4 owners on one contract. I am designated as the primary member but all of us have membership cards and materials and we each get a copy of all mailings. We initially bought 265 points with 2 of the parties owning 115 each and my bro-in-law owning 55. We have added on twice and now my parents-in-law own 215, we have 140 and by bil still has 55.

We maintain our own "point balance" records - I do the record keeping. As the primary member, I get a copy of each reservation that is made. We are in our 8th (?) year and we have never once had a squabble over someone using someone else's points. Even though DVC views us as "one" we view ourselves as 3 separate owners and treat our points separately.

This works great! We could never have afforded to each buy a package initially and now we each go at least once per year (we have all gone together + additional family for the last 2 years) and my husband and kids and I are leaving for our 3rd in 12 months in 2 short weeks.

I highly recommend this approach - if anyone wants to see my template for keeping it straight from year to year I would be happy to e-mail it