minimum age to buy DVC

[DeeCee735]

Just wondering if anyone knows the minimum age to buy DVC. My children are going to be 21 (twins) and I'm wondering if that's the legal age for them to buy in. Would they be able to buy small add on size contracts since they are considered members under mine and DH's membership? They are the beneficiaries of our contracts, not named on on them, but they do get DVC member on the KTTW card when we check in.

Just curious, and as always in the planning ahead stage. TIA for any info you might have.

 

[RobDoc]

No one is able to purchase an add-on unless they already have a master contract. Your children are of legal age to own a DVC contract and their best means to have a master contract would be to purchase a small resale which would then entitle them to add-on to that contract directly thru Disney.

If they were already on your deed (not by a future inheritance), an add-on purchase would need to be titled the same way - so if you added your 2 children to your deed, future add-ons would also need to have all four names on the deed. If your children are on the deed, they share in the benefits (both financial benefits and perks) and also could subject the contract itself (and everyone on the deed) to issues in the event of future bankruptcy or divorce.

KTTW cards all state "DVC Member" when the reservation was made thru MS on points or member cash. It has nothing to do with their family status. If you made a reservation for your neighbor or rented to a stranger, the KTTW card would also state "DVC Member".

You could purchase add-ons for them and then have the deeds retitled in their name at additional expense (it would still need to go thru ROFR) or they could purchase small resale contracts and add-on at later dates or they could purchase a master contract with the current minimum purchase.

Good luck!

 

[Deb & Bill]

I know a lot of kids thing DVC is the greatest thing ever. But if they can't even pay the dues, what are they going to do? Unless they already have good paying jobs, debt free, etc, it's probably not a good idea to get them hooked into the cult.

 

[DeeCee735]

As I said just thinking ahead. One of my kids is very into using our points on her own with her friends and hopes to buy her own contract one day. The other is perfectly happy to go when we go, and is just starting to think of his own trips (on our points), so we're not there yet, but I thought I'd ask the question anyway

 

[tigger51276]

I bought dvc on my own when I was 23, so I'm pretty sure that at 21 they are probably old enough to own a piece of the World. For me I loved Disney and loved owning dvc. It is one of the things I am most proud of as my family thought for sure I wouldn't make my payments and would loose it (they said the same thing when I bought a new car when I was 19). I won't say it wasn't hard at times, and I did have to work 2 jobs, but it was so completely worth it. Now at 33 my timeshare has been paid off for a couple years and I take my 2 daughters every year which I probably wouldn't do if I didn't have it.

 

[CarolMN]

AFAIK, the age of majority in Florida is 18, so that would be the minimum age to sign a legally binding contract there. 18 may not be the minimum age for other states.

I am not a lawyer.

 

[sharpie89]

I am 20 years old, and I bought a contract with Disney, for the 160 points at AKL. Then next year...when I get married we will re-sign the paperwork, so that we both own it.

 

[Dean]

It's 18 to buy or be on the deed but it's not likely an 18 y/o would be able to finance. It's 18 to check in at DVC but can be older for DCL and other exchange options. For other timeshares it's almost always 18 however, many require one to be older to stay. Many are 21, a lot are 23 and a few are 25. I'm guessing one could get a waiver for their owned resort but likely not for other resorts. Many do check and do enforce this rule.

 

[DeeCee735]

Thanks for all of your replies and for the information. This is something my daughter and I have talked about for her future. She's extremely responsible with her money, and has been working and paying her own bills since she was 16. She's very interested, but we both know other things must come first. I mean, she's still in college, so there's nothing she's committing to now. I'd like to see her commit to continuing to save, starting retirement savings once she's employed (math teacher major with a minor in spanish) and a paying into a whole life policy way before I want her committing to buying a timeshare. But, it did come up in conversation so I thought I'd post the questions.

Thanks again!