New buyer with two master contracts?

[WallE71]

Just trying to figure all this out. We are new to DVC as our contract is in estoppel now. My wife and I are the only ones listed (for now)on the resale contract, however my mom may sometimes travel with us and wanted to buy into DVC as well. She will be on our direct purchase deed to be able to enjoy the AP and other perks for those that purchase direct. So, with the names being different, I was told we would have to have two master contracts with same UY. Is this a problem? Should we add my mom's name to the resale or just continue and deal with it. Trying to figure what the future problems could be with this.

 

[D-Trick]

Will it be a problem? It's all up to your personal preference. Do you have an issue with managing two separate accounts? Some are fine with it... while others are not. You may find that trying to combine the points from 2 separate contracts a hassle.

 

[supersnoop]

How many points were you planning to purchase direct, and which resort? With different names, you’ll have to meet the new membership minimum purchase requirement.

 

[jscottnc]

I have a similar situation with my adult daughter that we added to our direct purchase contract. It can be a bit of hassle depending on how you travel and the number of total points you will have. If you have sufficient points for the stay you want using either contract (even borrowing from the next UY), you could just alternate contracts used for travel. You could split your stay into two reservations, one each per contract, then later call MS to have the reservations linked (so you don't have to change rooms). You could call MS and transfer all the points from one contract to the other; allows you to combine points but then you have to call MS to make a reservation (I like going on-line an hour before MS opens).

You could title all deeds the same but there are risks and hassles involved there mainly with disposing of the contract and leans that might be placed against it. I was willing to accept that for one of our two contracts but not both. Mind you I have not yet made a reservation requiring more than one UY points from one contract. I may feel differently once I have jumped through a few hoops.

 

[WallE71]

How many points were you planning to purchase direct, and which resort? With different names, you’ll have to meet the new membership minimum purchase requirement.

The add on will only be a 50 point contract at the Poly. We will bank and barrow to stay in the a studio every third year. Most of our other points will be at AKV.

 

[WallE71]

Will it be a problem? It's all up to your personal preference. Do you have an issue with managing two separate accounts? Some are fine with it... while others are not. You may find that trying to combine the points from 2 separate contracts a hassle.

I don't mind and actually liked idea of being able to have reservation linked but only do dining plan for part of our stay since it will be on two masters.

 

[D-Trick]

The add on will only be a 50 point contract at the Poly. We will bank and barrow to stay in the a studio every third year. Most of our other points will be at AKV.

@WallE71 -- I don't think you're understanding what @supersnoop said in his post. To purchase an add on, the deeds must be titled the same. Therefore, you cannot buy a 50-point add-on and add your mother's name to the direct contract. Adding her makes it a new member purchase, and is therefore a 100-point minimum for Poly.

 

[WallE71]

@WallE71 -- I don't think you're understanding what @supersnoop said in his post. To purchase an add on, the deeds must be titled the same. Therefore, you cannot buy a 50-point add-on and add your mother's name to the direct contract. Adding her makes it a new member purchase, and is therefore a 100-point minimum for Poly.

I get that, but that is not what what was told to me by DVC. They would allow the 50 and treat as same, but would have to be two masters. I maybe misunderstood, but that is what they stated.

 

[4luv2cdisney]

I think that's crazy if they wouldn't let someone buy at the member minimums just because they wanted to add a name on. It seems a lot of people start including their kids after they turn 18, etc. But, if true, I would just add on without your moms name and then add her onto the deed thru a gratuitous transfer after all is done. There is info on these boards about how to do so youself for around $50. If you call DVC and ask them, they will refer you to their title company and tell you it costs about $500. It may be easier that way, but possibly not worth the extra $.

For me, the benefit to different memberships would be that my kids could get online and try to book their own studio at the 11 month mark (or the 7 month mark) at the same time I'm online trying to get one. So, I guess increasing the odds of getting 2 studios in a busy season.

 

[supersnoop]

The new member minimum is 50 points at most locations. I believe it’s 100 at CCV. A 50 Point master should be allowed at PVB.

 

[3cuteboys]

We just bought 50 points direct at PVB, our first DVC purchase, not an add-on.

 

[Dean]

Just trying to figure all this out. We are new to DVC as our contract is in estoppel now. My wife and I are the only ones listed (for now)on the resale contract, however my mom may sometimes travel with us and wanted to buy into DVC as well. She will be on our direct purchase deed to be able to enjoy the AP and other perks for those that purchase direct. So, with the names being different, I was told we would have to have two master contracts with same UY. Is this a problem? Should we add my mom's name to the resale or just continue and deal with it. Trying to figure what the future problems could be with this.

It has advantages (well only this one) and significant disadvantages. I would forgo the perks or I would add her to the resale prior to buying. For a full sized contract it's not as much of an issue but for someone new to DVC and for only 50 pts, I see this as a bad plan not worth the perks. Of course with her being an owner creating a partnership, this could add other issues if she were to have financial issues.

 

[WallE71]

It has advantages (well only this one) and significant disadvantages. I would forgo the perks or I would add her to the resale prior to buying. For a full sized contract it's not as much of an issue but for someone new to DVC and for only 50 pts, I see this as a bad plan not worth the perks. Of course with her being an owner creating a partnership, this could add other issues if she were to have financial issues.

Just checked and it would have to go back through ROFR to add her name even though we are in estoppel now. We are not doing that, so I guess two masters it is. Estopple is driving us crazy as it is. I couldn't imagine starting over.

 

[Dean]

Just checked and it would have to go back through ROFR to add her name even though we are in estoppel now. We are not doing that, so I guess two masters it is. Estopple is driving us crazy as it is. I couldn't imagine starting over.

Yes and no, it's an automatic stamp for this type of situation, it's just the process they use. You send in a transfer form, they send you back a waiver and second form, you get a deed recorded and send them a copy of the recorded deed along with the second transfer form, fairly simple. A lot easier than dealing with a separate master for 50 points.

 

[WallE71]

Yes and no, it's an automatic stamp for this type of situation, it's just the process they use. You send in a transfer form, they send you back a waiver and second form, you get a deed recorded and send them a copy of the recorded deed along with the second transfer form, fairly simple. A lot easier than dealing with a separate master for 50 points.

Is it easier to do that now or wait till we get a member number then add the second contract? And what are the other issues with having two masters as I am not worried about financial stability for either of us over a small contract. Booking would have to be done separately for a longer stay? Any problems with transferring points back and forth?

 

[Dean]

Is it easier to do that now or wait till we get a member number then add the second contract? And what are the other issues with having two masters as I am not worried about financial stability for either of us over a small contract. Booking would have to be done separately for a longer stay? Any problems with transferring points back and forth?

There are issues using a smaller contract in general. You can only transfer once a UY in this situation and you'd have to call to book as they will not currently show up online. Plus having too much banking borrowing as part of the plan increases risk dramatically. See if you can change the current contract before the deed is set, that'd be your best bet and you're cheapest option. Then do the add on afterwards.

 

[WallE71]

Has the website changed to make this easier now? I have had little problems switching back and forth and booking stays.