Multiple names on dvc contract?

[Fefegracie]

. I'm new and thinking of buying dvc. Any issues with listing 2 adult sons on contract?

 

[supersnoop]

. I'm new and thinking of buying dvc. Any issues with listing 2 adult sons on contract?

The same issues as having two adult sons listed on the deed for a house. Either could use the contract (points) without permission or coordination with the other. Both would have to agree to any future sale of the property. Both would be legally responsible for the maintenance fees.

 

[disneynutz]

Legal issues abound.

Better check with legal to see what you are getting into.

Bill

 

[DenLo]

If you haven't purchased yet, you could consider purchasing two contracts and each son inherit one contract.

Also if you want them to have access to the points now, you could make your sons Associate Members on the contract(s).

III.2.b. An "Associate" is a person named by the Purchaser or Purchasers who is only authorized to bank, borrow and make reservations using the Club Member’s Home Resort Vacation Points. Associates do not receive Member Cards and are not entitled to the benefits and privileges that are available to a Club Member. In addition, Associates may not access financial information related to Annual Dues and/or loan pertaining to the membership.

c. Associates are subject to all the rules and regulations to which Club Members are subject, including, without limitation, the prohibition of the use of Vacation Accommodations for commercial purposes. Associates are also subject to the following:

1) Associates may only be Associates for a maximum of four (4) Memberships.

2) The adding of an Associate to a Club Member’s account is subject to the sole and absolute discretion of DVCMC.

3) An Associate can be removed from a Club Member’s account, by DVCMC in its sole and absolute discretion, for violating Disney Vacation Club rules.

g. Either a Purchaser or an Associate may call Member Services to request a reservation or on line via the Member Website.

 

[LisaS]

. I'm new and thinking of buying dvc. Any issues with listing 2 adult sons on contract?

The advantages of having them as co-owners is that they will get DVC member cards and will be eligible for all perks, including the discount on APs. That discount will extend to their spouses and any children living at the same address.

The disadvantages are that the contract becomes part of their financial assets. In the event one of them declares bankruptcy or gets divorced things could get messy.

 

[Fefegracie]

Thanks! Awesome info!

 

[Dean]

. I'm new and thinking of buying dvc. Any issues with listing 2 adult sons on contract?

We have chosen to do so for our oldest but it's a gamble. It becomes their assets as well (or a % of it does) and is applicable for FAFSA. I wouldn't spend more to get separate deeds unless you're looking at over 300 total and then I would likely do 2 home resorts. I would not title them differently either unless you ended up with different UY anyway because you can combine the contracts under one master if they're titled the same and have the same UY. If they live at the same address they'll get the Pass discounts now. There are different ways to title and it may be possible to do it by % specifically which would minimize some of the risks.