Merging 2 Contracts

[csmommy]

Hi all, we have found a resale through Fidelity with the same use year & resort as ours & the seller accepted our offer!! Hopefully it was pass ROFR quickly! What do I need to do to make sure I can merge the 2 contracts?

 

[tammymacb]

You don't really "merge" the two contracts.

Your first contract will show up as Resort contract number 1234567.0
your second contract will show up as 1234567.1 and so on.

If your contracts are both at the same location, then all the points are pooled together at 11 months for use. If your contracts are at two different places, they'll retain their home resort advantage.

To make sure that the contracts are both under the same contract number, make sure all your info ( names, middle names or initials etc ) are exactly the same for both contracts and I also always email all the info to my closing company with a note letting them know I'm already a member, and I want the points added to my original contract.

 

[disneynutz]

Once Disney processes your add on, if for some reason it was processed as a separate membership, their policy is that they will not change it and add it to your existing membership.

Not only does the names have to be identical the vesting of title must also be the same. In addition to notifying the title company and the broker I also notify Disney.

Bill

 

[jontybfc]

I'm a member at AKV and am in the process of buying at BWV, different use year. Can I add this to my existing membership?

 

[n2mm]

You don't really "merge" the two contracts.

Your first contract will show up as Resort contract number 1234567.0
your second contract will show up as 1234567.1 and so on.

If your contracts are both at the same location, then all the points are pooled together at 11 months for use. If your contracts are at two different places, they'll retain their home resort advantage.

To make sure that the contracts are both under the same contract number, make sure all your info ( names, middle names or initials etc ) are exactly the same for both contracts and I also always email all the info to my closing company with a note letting them know I'm already a member, and I want the points added to my original contract.

thanks for the advice. I too am buying resale and hoping that this new contract can be added to my current account. I attached a partial copy of the paragraph from one of my contracts to show how my contract is deeded. I don't feel confident that this will happen correctly as we have 3 owners. I made sure it showed right of survivorship. I also sent a note to the agent to remind her. I guess once it passes and I get the actual paperwork to sign for closing I'll take some of your advice. I did list my member ID on my note and my contract number. If it doesn't work out, can I just transfer the points each year? (sounds like a pain).

 

[drusba]

jontybfc, if you are getting a different use year, it is like becoming a different member. The contract will be added to your on-line account so you can see and use it in same place as your other contract but it will have a different member number, the contract will not be in numercial sequence to the old one, and the two do not mix to allow you to combine the points for a single night at 7 months out. To combine them, you either have to transfer points from one contract to the other, using up your once per use year transfer for both contracts or use points from one contract to book some nights of a trip and the other contract for remaining nights of a trip and link the two reservations. You will also receive separate annual dues statements for the contracts and dues are paid separately for each -- for example, if you have automatic withdrawal from checking account for dues, there will be two separate withdrawals per month.

 

[disneynutz]

jontybfc, if you are getting a different use year, it is like becoming a different member. The contract will be added to your on-line account so you can see and use it in same place as your other contract but it will have a different member number, the contract will not be in numercial sequence to the old one, and the two do not mix to allow you to combine the points for a single night at 7 months out. To combine them, you either have to transfer points from one contract to the other, using up your once per use year transfer for both contracts or use points from one contract to book some nights of a trip and the other contract for remaining nights of a trip and link the two reservations. You will also receive separate annual dues statements for the contracts and dues are paid separately for each -- for example, if you have automatic withdrawal from checking account for dues, there will be two separate withdrawals per month.

And two different member cards. We have two different memberships because I didn't know any better, many members do have different UY's, but for me it's just another thing to keep straight, more work and a greater possibility of errors, and for our family there isn't any benefit.

Bill

 

[Cruelladeville]

When you have two membership numbers, you need to have a notebook. Put the use years and their membership # at the top of the page. Every time you talk to MS, list the date, what you did, and how many points are left. I have 5 member numbers because at the time I purchased the points, I needed different use years, since I was a teacher. I have a February use year(spring break for the first contract, Christmas for the 2nd), March use year(summer) and August(it actually is at a strange time of year). Now that I'm retired, I don't really need all those use years, but I separate which contract is rented out, and which is used for my family.

 

[jontybfc]

Thanks for your replies

 

[csmommy]

So should I give them all the infomation from the Membership information page:

DVC Club ID
Member ID
Contract #
Purchaser
Additional Purchaser

Is there anything I shouldn't give the resale Company?

 

[disneynutz]

So should I give them all the infomation from the Membership information page:

DVC Club ID
Member ID
Contract #
Purchaser
Additional Purchaser

Is there anything I shouldn't give the resale Company?

You can omit the club ID and you should find out how your first contract was vested and request the same. As I PP, the info should be given to the broker, title company, and Disney, just to make sure that everyone has it. We have 26 contracts and over the years, 3 were incorrectly processed but caught in time by sending the info to all three.

Bill

 

[csmommy]

You can omit the club ID and you should find out how your first contract was vested and request the same. As I PP, the info should be given to the broker, title company, and Disney, just to make sure that everyone has it. We have 26 contracts and over the years, 3 were incorrectly processed but caught in time by sending the info to all three.

Bill

Thanks for all your help.

What do you mean by "find out how your first contract was vested and request the same." ? FYI - Neither our 1st contract nor this one is a direct purchase from Disney.

 

[disneynutz]

Thanks for all your help.

What do you mean by "find out how your first contract was vested and request the same." ? FYI - Neither our 1st contract nor this one is a direct purchase from Disney.

Vesting is how you take title, in common, joint tenants, husband and wife, etc. Vesting can determine what happens to your membership should someone pass away. Vesting needs to be the same on all of your contracts to have them under one membership.

Bill

 

[csmommy]

Vesting is how you take title, in common, joint tenants, husband and wife, etc. Vesting can determine what happens to your membership should someone pass away. Vesting needs to be the same on all of your contracts to have them under one membership.

Bill

OK - I got it now. Thanks.

 

[delaneyc52]

This all has been very helpful -- can anyone elaborate on transferring points once per use year? I'm not sure I'm familiar with that. Thanks!

 

[Dean]

In the past I've notified DVC directly that I wanted them merged and included in the membership info directly on the contract as well as reminding the closing company that my intent was to have them merged.

 

[chalee94]

This all has been very helpful -- can anyone elaborate on transferring points once per use year?

"renting" means that you are keeping the rights to some of your pts - but acting as a landlord and renting out the reservation made with those pts to a 3rd party. you are still responsible...the renter still cannot even call MS about the reservation. you can rent to DVC owners and nonowners. you can rent banked or borrowed pts.

"transferring" means that you are giving up the rights to some of your pts. they are gone and the other DVC owner can do what they want with them. you can only transfer pts to DVC owners. you can only transfer current pts.

you can transfer one time - either in or out - and then you are done for the use year. you are contractually prohibited from receiving compensation for a transfer.

in this case, if you have multiple memberships (not just multiple contracts under a single membership), you can transfer pts from one membership to another, which allows you to combine the pts to book a single night's stay (i.e. use 8 pts from membership A and 10 pts from membership B to book an 18 pt villa). without making the transfer, you could book individual nights with pts from each contract (subject to home resort restrictions) and try to link the separate reservations but you couldn't pool the pts together.

BTW, the transferred pts still retain their use year and home resort (so you can't transfer pts from your OKW account to your BCV account and use the OKW pts to book BCV at 11 months out.)

if you have multiple contracts under a single membership (which is easier to manage), you can pool pts for a single night without having to use up your once-per-year transfer. and as always, home resort windows still apply to pts from each contract if you own multiple home resorts under the same membership number.

 

[Sonnyeclipse]

Am I reading correctly that having points and two different locations, you will have a different member number if the use year differs? If the use year is the same, will you have the same member number?

I currently own SSR and am looking at an AKV contract. I am wondering the flexibility when booking. For instance, if I have 50 points left in my SSR account for the year and 50 in AKV, could I combine the two sets of points into one stay?

I think I am reading that I would have to transfer points from one account to another to make this happen if the use years are different. I'm unsure what would happen if they are the same.

 

[Dean]

Am I reading correctly that having points and two different locations, you will have a different member number if the use year differs? If the use year is the same, will you have the same member number?

I currently own SSR and am looking at an AKV contract. I am wondering the flexibility when booking. For instance, if I have 50 points left in my SSR account for the year and 50 in AKV, could I combine the two sets of points into one stay?

I think I am reading that I would have to transfer points from one account to another to make this happen if the use years are different. I'm unsure what would happen if they are the same.

If you have different UY, you WILL have separate member numbers and be treated as if you were separate members. IF you buy resale for the same UY you MAY have the same master contract assuming it's titled exactly the same (same names, survivorship, etc.

 

[chalee94]

I think I am reading that I would have to transfer points from one account to another to make this happen if the use years are different. I'm unsure what would happen if they are the same.

if the UYs are the same and they are titled the same so that the contracts are combined under one member number, you would be able to pool pts together to book a single night. in other words - at 7 months out if you have different home resorts or at 11 months out if you have the same home resort - the 2 contracts would function as one contract for booking purposes.