Maximum # of owners per Contract?

[BEACHCLUBVILLAS]

Is there a maximum number of owners allowed on a single contract? I'm wondering if we can get a add on via resale for one with me and DH as well as DS on the same contract. Then in a couple years..another with my DD's name on it. Also, am I correct that you have to be 18 or older to be on the contract?

Also, if I purchase an add on via resale, will DVC automatically assign it the same member number or will I get a different member number? Would it matter if it were the same use year?

Thanks for the help. Just thinking out loud (planting a seed for my DH).

 

[lizziepooh]

Something to consider - If you add adult children to your contract, it becomes partly their property and may have to be sold in case of financial problems, bankruptcy, divorce etc. Some people don't recommend putting adult kids on contracts because of this.

 

[drusba]

An "add-on" officially is something only Disney sells -- you buy from it in same use year and retain same membership number.

If you buy resale, even if in same use year month, that will be treated as a separate ownership interest with a different membership number. Possibly, you can put anyone you want on the resale contract but the seller and broker will probably want that person to be 18 or older so they avoid any legal issues of a minor's being able to set aside a contract because he is a minor. Also, consider the advice above -- having a child on the deed means his interest is later subject to creditor claims or any division of property in divorce proceedings. If what you want to do is avoid probate later upon the parents' death, the safer route is to see an estate lawyer about setting up a trust mechanism to accomplish your goals.

 

[Dean]

I've been told you can have as many as four on a deed but don't know for certain. All must be adults so no minors can be added. You can buy resale but in this situation they would be totally separate like different owners. If you bought them with the same registration and same use year (without the kids), they would be added to your account IN MOST CASES.

In part it depends on your goals. If it's perks, there may be other or better ways to do it. If it's to pass the ownership to your kids, there are definitely better ways to do this. Remember that anything in their name becomes their asset. And that includes being factored in for college financial aid. If it truly is a good idea for you to add the kids, you could always buy a small contract and add one or more children. You could do so resale or you could buy from DVC then change the names on your own. For very small contracts of less than 50 points, the latter is very likely the best by far.

They could get almost all perks anyway, even the AP discounts if they have an ID at the same address as a member. You could also add them as an associate so they could make reservations, if you dare.

 

[PinkTink63]

I don't know how it works with resale contracts, but when buying from Disney, I was told you can have up to six on the deed. I would be interested in knowing if it is different with a resale.

 

[Dean]

I don't know how it works with resale contracts, but when buying from Disney, I was told you can have up to six on the deed. I would be interested in knowing if it is different with a resale.

It would be the same regardless.

 

[PinkTink63]

Dean,
Thanks for the info! I had been wondering about!
Stephanie

 

[BEACHCLUBVILLAS]

Thanks for the good advice. I decided against adding the kids. Sounds like there is a potential for headache with little benefit.