need advice

[Sheepdog23]

I am in a really difficult situation. My mom and I own a very small contract at vwl together which she does not really need since she bought herself a larger one. She has also started signs of mental instability in how she treats me and I am no longer actively having a relationship with her because she has gotten verbally abusive and will not get help. I have instead heard that she is spreading rumors about me to everyone. My question is that my husband and I want to have her off the contract but do not want to risk losing the contract in ROFR or whatever happens should we want to officially buy her out. I was instead thinking of drafting up legal documents that stated something along the lines of by accepting payment for her share of the points, she is forfeiting use of the points with the contract which do not entitle her to any ownership of them regardless of whether her name remains on the account or not. Do you guys have any advice for how to tackle this situation? We really do not want to lose our contract but I in no way want to share it with my mom anymore. I am really not in the mood to go through having her buy us out and try to buy something new. Thanks.

 

[ScubaCat]

I was instead thinking of drafting up legal documents that stated something along the lines of by accepting payment for her share of the points, she is forfeiting use of the points with the contract which do not entitle her to any ownership of them regardless of whether her name remains on the account or not. Do you guys have any advice for how to tackle this situation? We really do not want to lose our contract but I in no way want to share it with my mom anymore. I am really not in the mood to go through having her buy us out and try to buy something new. Thanks.

It sounds like you need to contact a lawyer, honestly, but I'll tell you what I know growing up with one and reading a few of the condo declarations in full

First, you can't amend or alter the contract you have with DVD. You can make an outside arrangement, but DVD will have nothing to do with it. In other words, suppose you get that document signed and she still decides to log in and book a trip or cancel one of yours or something like that. You'll have to somehow fight that with her on your own; DVD will not get involved or take sides in any way. As far as they're concerned, that agreement doesn't exist. I strongly suggest not even bothering with that. Focus, instead, on getting the deed transferred into your name(s) only. That is the only way out of this situation.

As far as "buying her out", if you can somehow resolve it amicably, you can simply give her a cash gift and she can sign the deed over to you. You'll still have to submit it for ROFR, but they will quickly and automatically waive it for a "gratuitous transfer", such as gifting it to a family member. That has the additional benefit of retaining whatever perks the contract qualifies for based on how and when it was purchased (i.e. direct, pre 4/4/16, etc.). If she SELLS it to you, it becomes a resale purchase with all of the usual restrictions.

Beyond that, my suggestion is to acquire professional legal advice as for how to best proceed. Hopefully others will chime in with other suggestions.

 

[sndral]

IMO any 'side' agreement isn't worth the paper it's written on and almost guarentees future drama w/ your mom for zero gain.
Who paid for this contract? Who pays the MFs? Who uses the points now? Are the points owned free and clear or is there a loan tied to the points?
Has your mom told you she no longer wants this contract? You may think she doesn't 'need' this contract because she bought herself a bigger contract in her name only, but she may see things differently, especially if she paid for or helped pay for the contract.
Sorry, family issues are emotionally challenging at times, but your mom's name on the DVC deed is an ownership interest in real property & to remove her interest you will need to take appropriate legal steps to remove her ownership interest. As long as she's on the deed DVC will allow her to do what she likes w/ those points.

 

[Sheepdog23]

We paid cash for it 50/50 and have shared it 50/50. I regret the decision now but when we did it, she was happy to see her grandkids and somewhat ok. She does not even use all the points in the other contracts she has every year (my sister confirmed this) and then she has to take the ones from this one just because I used a year instead of letting me take them when I can use them and she takes them when she needs them and the person using pays dues like i originally suggested since we travel to Disney every 3 years or so (she would get more than her fair share of points). She is mentally unstable and i want to buy her out. What is the best way to do it without losing our contract?

 

[Dean]

We paid cash for it 50/50 and have shared it 50/50. I regret the decision now but when we did it, she was happy to see her grandkids and somewhat ok. She does not even use all the points in the other contracts she has every year (my sister confirmed this) and then she has to take the ones from this one just because I used a year instead of letting me take them when I can use them and she takes them when she needs them and the person using pays dues like i originally suggested since we travel to Disney every 3 years or so (she would get more than her fair share of points). She is mentally unstable and i want to buy her out. What is the best way to do it without losing our contract?

This is just one of the many reasons I recommend against buying together in most situations. If you can't get her to sing the paperwork, about all you could do would be to force her to sale or to continue to put up with the aggravation. I guess you could also go the mental incapacity route if applicable. If it were me, I'd get the transfer paperwork from DVC and have it ready of her to sign. Get confirmation from DVC that they will not take it ROFR in this situation to try to reassure her. Go ahead and get a deed done so you can get her to sign all at one time if she's willing at any point.

 

[disneynutz]

I would run as fast as you can. Get her to buy you out and start over with your own contracts. You will always be the bad guy and things will only get worse from here. Make sure that you get a written valuation of the contract to be sold from a third party but expect her to say that you took advantage of her. In my experience medication can often cause these type of mental issues.

Good luck

Bill

 

[Lynne M]

We paid cash for it 50/50 and have shared it 50/50. I regret the decision now but when we did it, she was happy to see her grandkids and somewhat ok. She does not even use all the points in the other contracts she has every year (my sister confirmed this) and then she has to take the ones from this one just because I used a year instead of letting me take them when I can use them and she takes them when she needs them and the person using pays dues like i originally suggested since we travel to Disney every 3 years or so (she would get more than her fair share of points). She is mentally unstable and i want to buy her out. What is the best way to do it without losing our contract?

IMO, this situation really calls for a consultation with a lawyer. You can't force her off the contract if she doesn't want to sell it to you. Even if you arrive at some sort of agreement with her to buy her out, if she's truly incompetent to handle a business transaction, the agreement could fall apart in a minute. And if your mother is no longer able to handle her own financial affairs, you're going to be talking to a lawyer anyway, because a DVC contract will be the least of your problems.

 

[kniquy]

If it is a really small contract then i would just let her buy you out or just get yourself off the deed so that you will not be tied to her bad decisions down the road. It sounds like her mental status is probably the bigger concern here- if showing signs of dementia at some point she might be deemed incompetent. Are there other family member who she does have a good relationship with? Hopefully she has the essential people in place with a POA those would be the people to start making financial decisions at the point she is not longer able. I would definitely consult a lawyer -- also start talking to other family members who might be able to approach her without her getting angry.

 

[MrInfinity]

This seems like it's going to go nowhere, fast. The side-contract is a waste of time and money. It's not enforceable since you can't change the terms on your DVC contract by making a side contract. The DVC contract has all over it that the use of the points and the ownership interest are tied. You can't just separate the use of the points because you make a side deal.

Buying it out with an uncooperative family member is going to be as much a pain. I see this going: You: I'll give you $90 a point. Her: I want $110. You: $110 is not the going rate. Her: Yes it is. And you can see that two people trying to divide something they're both attached to is why lawyers exist.

As long as you titled it with rights of survivorship, you could just wait till she passes on and it will become yours at no cost. Unless you need the money or this is causing you some sort of hardship, I'd just let it simmer. Move on. Write off using the points. Or once a year, get in before her and do a transfer to your own account. Let her be mad that you took the points. If you don't also own between you and your DH, consider buying your own contract. Then engage in transferring the points every year. Don't waste money on legal fees over a small contract.

Don't book with them, ever. She can change things up and meddle. Transfers are not refundable, and you as co-owner are entitled to make them.

 

[Dean]

IMO, this situation really calls for a consultation with a lawyer. You can't force her off the contract if she doesn't want to sell it to you. Even if you arrive at some sort of agreement with her to buy her out, if she's truly incompetent to handle a business transaction, the agreement could fall apart in a minute. And if your mother is no longer able to handle her own financial affairs, you're going to be talking to a lawyer anyway, because a DVC contract will be the least of your problems.

From a DVC standpoint it may not require a lawyer but may. One can force her to sell to dissolve the partnership, then buy back in if needed. The other is obviously a far larger issue.

 

[supersnoop]

Quit claim. Give her the contract. The money you've spent is lost. Chalk it up to a lesson learned.

 

[mustinjourney]

what size is the contract?