Is sharing a possibility?

[Alic]

Do you think it would be possible for 2 families to share a DVC contract? A good friend and I want to go in on DVC together. This would enable us to utilize our points every other year and keep the price down. Any extra points would either be sold to each other or rented out. Does this idea work? Would we be able to have both our names on the contract? We wouldn't have to worry about financing so that isn't an issue.

 

[Poorman]

You can put as many names on the contract as you like. It could be a little sticky if one of you were to pass away. But I guess that could be worked out. How about two small contracts,one for each of you. It would mean more closing costs but over the course of the contract the closing is minimal. You can then transfer points to each other as your plans dictate.

 

[Alic]

The two small contracts wouldn't work b/c we wanted to buy a total of 200 points. Do you think this is a viable option?

 

[jaysue]

You could try and buy 2 small resale contracts each in the 100 pt range

I do think splitting ownership is viable but would have to be a clearly laid outcome in your estate planning.

Perhaps a little extra term-20 life insurance policy or something where the beneficiary is each other for the express purpose of buying out the other's share in the contract

thanks
jaysue

 

[Beca]

There are several 100 pt contracts on TTS site right now...including one at the "hard to find" BCV. Remember, the 150 pt. minimum is only if you buy from DVC. Then, if you wanted to, you could transfer points to each other every year...but, know that your investment is safe.

 

[tjkraz]

Can you functionally do it? Sure.

But what you should really consider is everything that COULD go wrong in the next four or five decades, and the impact that it could have on your friendship.

What if your friend could not pay his/her portion of the annual dues?

What if you have a disagreement about the usage of the points? With both of your names on the contract, technically EITHER of you could call and make a reservation. How would you respond if you called and found out that your friend used points outside of your handshake agreement?

What would happen if either of you passed-away? From research we did during our purchase, it's my understanding that by Florida law, if both of your names are on the deed and one of you should die, full ownership would pass to the surviving owner.

Other people have made good suggestions about 100pt resales. If you want to combine points from two contracts to book a single stay, it's very easy to do.

 

[Alic]

I'm a little confused about the two separate contracts. If I buy resale I am allowed to buy less than 150 pts initially? If I had a 100 point contract would Disney still recognize me as an owener? What is the point of the 150 if it doesn't seem to matter?

 

[JimC]

150 is the minimum initial purchase from Disney. Existing members can purchase add-ons for fewer points (I believe as low as 25). Initial contracts and add-ons can be sold separately. That is why there are smaller contracts on the resale market.

Disney will recognize you as an owner whether you buy from them or resale. It makes no difference.

I believe buying two smaller resale contracts is better than one contract shared among two families.

 

[crisi]

You can share contracts.

In addition to estate planning, I'd make sure there was some more guidelines spelled out when you start.

For instance, it would be a shame to break up a great friendship because you friend borrowed the points you wanted to use for your trip to take some relative you don't even like. So make sure to write up how points will be split (200 each year isn't going to work exactly). And maybe some system where you pay each other $6 a point for dues above your allocation when discussed in advance - and $12 a point if you surprise your friend with "I used all the points."

 

[Pa@okw95]

Save yourself a big head ache down the road, buy a small contract not from Disney. The problems down the road with sharing a contract with a friend are too many to mention.

 

[PamOKW]

Logistically, this might be possible. However, I don't think it's the best idea. It's along the lines of loaning money to a friend. There are just too many variables over the next 40-50 years. What if one of you divorces and/or marries? What if one of you moves away? Who is going to pay the dues every year and how will they be reimbursed? It all can get very sticky very fast. I think the idea of each of you owning a membership outright and possibly combining points for stays is a better way to go.

 

[goldilocks_63]

Why not buy 2 smaller contracts with the same use year.

This is what I would suggest.

If you have ever lent someone $10, and didn't get it back, imagine the horror of wrangling over a contract. (Dates, Death, taxes, divorce, misuse and / or damage)

Goldi

 

[Alic]

Thanks so much for all of your input. How difficult would it be to find two 100pt contracts with the same use year at OKW? Is this impossible or what?

 

[Beca]

I would think that would be EASY!! Have you looked on TTS website? They have one up there now for 100 pts. You might have to purchase one, and then keep looking for #2.

It may take some time, but it is definitely do-able...and, I think it just might save your friendship!!!


Beca

 

[Beca]

Sorry, my bad...the 100 pt one is "sale pending", but give them a call, and tell them what you want (along with DVC by resale, and atimeshare.com), and they can give you "heads up" when those contracts come in.

Good luck!!!

Beca

 

[tjkraz]

Based upon what I've read, a lot of those lower point contracts never make it on the web site before someone grabs it.

Get in touch with a few brokers and tell them what you want. As soon as they have something available, you'll hear from them!

 

[Alic]

So if I were to buy through Disney I have to buy atleast 150 points but if I buy resale I can buy 100? Am I treated differently at all when making reservations or anything else? Will I still be considered an owner? Would it be a hassel if we had different use years? How about 2 use years that are a month apart?

 

[Poorman]

Alic,
I have 5 contracts with 2 resorts and 2 UY's.

You can buy 25 points resale if you like. They treat you the same.

My card says member since 1996. And I bought in 2002.

If you want 75 points at BCV then wait for a resale. If you want

90 points at OKW I see a lot of them,they were add on's that

people are trying to get rid of. I bought a 90 pt BWV and a 130 pt.

OKW resale. So if you wait long enough you will find one that you

like. Keep reading the boards and ask questions. Everyone was

in your shoes at one time or another. Good luck.

Rich

 

[JimC]

There is no difference between owners who buy resale and owners who buy direct from Disney.

We have a contract at OKW with December use year and a contract with add-on at BCV with February use year. It is no hassle to keep straight. We use this program to manage the contracts:

http://hometown.aol.com/dmfredrick/Download.html

And this program to plan vacations:

http://web.nalu.net/~wneth/dvcplanner.htm

 

[Alic]

Those two sites are unbelieveable! Thanks so much for the great advice everyone!