Newbie question about deed title

[EPCOT Terran]

Hi! (Potential) new member here. I’m looking at buying (direct) into Riviera for 300 points (2 contracts for 150 each) at $187/pt (before Magical Beginnings). I have not owned any points previously. I’m hoping to get some advice from others on the titling aspect of this. My wife and I want to take our kids (all over 18) sometimes and eventually our grandkids but eventually we’ll either sell or turn points over to our kids. I’m thinking about three different titling options:

• My name and my wife’s. If we want to turn it over to the kids someday, we can retitle it then. Only question is how difficult things will be if something happens to both of us (probate and such).
• My trust. I’m not quite sure how membership works when the deed is in the name of the trust, but I assume Disney deals with this all the time.
• Our names plus the kids. The benefit here is that everyone gets a blue card (I presume) but everyone is on the hook to either sell or keep paying the dues if something happens to us.

Are any of these options obviously better (or worse) than the others? Any advice from others that have gone down this road before is much appreciated!

 

[crvetter]

You can title into the trust. And all current trustees (not successor) will get a blue card it is pretty straight forward. You just have 1 form to fill out and get notarized along with sending the trust document in (or part of it).

The biggest suggestion would be to break the contract into the smallest components you can. I'm not sure what the minimum currently is but I think 100. Personally I'd do the 100 contract and maybe split the remaining into 50 or 75 contracts. Makes it easier to sell down the line (or set up inheritance easier). You don't need to maintain a single contract of 150 to qualify for blue card, just in aggregate you must maintain the 150.

 

[epcotprincess]

Hi! (Potential) new member here. I’m looking at buying (direct) into Riviera for 300 points (2 contracts for 150 each) at $187/pt (before Magical Beginnings). I have not owned any points previously. I’m hoping to get some advice from others on the titling aspect of this. My wife and I want to take our kids (all over 18) sometimes and eventually our grandkids but eventually we’ll either sell or turn points over to our kids. I’m thinking about three different titling options:

• My name and my wife’s. If we want to turn it over to the kids someday, we can retitle it then. Only question is how difficult things will be if something happens to both of us (probate and such).
• My trust. I’m not quite sure how membership works when the deed is in the name of the trust, but I assume Disney deals with this all the time.
• Our names plus the kids. The benefit here is that everyone gets a blue card (I presume) but everyone is on the hook to either sell or keep paying the dues if something happens to us.

Are any of these options obviously better (or worse) than the others? Any advice from others that have gone down this road before is much appreciated!

You may also want to consider your interest in buying APs at the discounted rate for DVC direct purchasers. If your kids might want to buy these for themselves or your grandkids, listing them on the deed would make them all eligible for everyone living at the same address as a listed deed holder.

I added my parents to our direct purchase deed to allow for them to receive this benefit and Membership Extras. I wish I would have done this from the start.

 

[EPCOT Terran]

You can title into the trust. And all current trustees (not successor) will get a blue card it is pretty straight forward. You just have 1 form to fill out and get notarized along with sending the trust document in (or part of it).

The biggest suggestion would be to break the contract into the smallest components you can. I'm not sure what the minimum currently is but I think 100. Personally I'd do the 100 contract and maybe split the remaining into 50 or 75 contracts. Makes it easier to sell down the line (or set up inheritance easier). You don't need to maintain a single contract of 150 to qualify for blue card, just in aggregate you must maintain the 150.

Thanks crvetter! I was thinking about splitting into 2 150-pt contracts so that if we split them between the kids they would retain the blue card (and to make it easier to sell than a 300). I can see how splitting it even more would make it easier to sell later. How much on top of other closing costs am I paying for each separate contract, around $250?

 

[EPCOT Terran]

You may also want to consider your interest in buying APs at the discounted rate for DVC direct purchasers. If your kids might want to buy these for themselves or your grandkids, listing them on the deed would make them all eligible for everyone living at the same address as a listed deed holder.

I added my parents to our direct purchase deed to allow for them to receive this benefit and Membership Extras. I wish I would have done this from the start.

Hello fellow EPCOT-ian! I'm from out of state so I've been getting the Incredi-pass. I'm considering downgrading to the Sorceror pass after buying in. Is that the discount you are referring to or is there a different discount for the Incredi-pass?

 

[Mmk121]

Smart to split up the contract. I personally would title with just spouses and make sure everything is clearly spelled out it your will / estate plan. The problem with adding adult children is if there is a divorce with their future spouse, then it can potentially get mixed up in that. When I was looking at splitting up my contract for a direct VDH purchase, the closing costs were $392.60 for the 150 point contract and $366.20 for the 50 point contract.

 

[Sandisw]

At this point, I would either title as husband and wife, or put into your trust, especially if using a trust allows you to add family members to be eligible for membership extras...

I would at least keep one contract at 150 because that allows you to sell the others down the line and still qualify for those extras. If they are smaller, and you want to sell (or even transfer title out of trust to one or more children), they lose the benefits if the contract is less than that.

 

[EPCOT Terran]

It sounds like the option of titling in all of our names is the loser so far. I'll ask my guide about how easy it is to add the kids if the deed is in the name of the trust.

Of course, this may all be moot if the 8-10 year resale window holds true for us. My wife and I are definitely more fans of Disney than our kids right now, but some of that is maybe just where we are in life. I travel for work to Orlando 2-3 times/year and we've gotten to where we've visited the parks enough that we like to ride a couple of rides but take it slower. I'm looking forward to some resort-only days after buying in! The kids are still remembering the days of being dragged from ride to ride to make sure we got our money's worth! Their opinions may change over time. If they don't and we get tired of visiting (I don't see it happening but you never know) then some resale will take care of the titling issues.

Thanks everyone. This is a big purchase for us (no doubt addonitis will get us later) and I just don't want to mess up right out of the gate on the titling aspect.

 

[PortlandFan]

You can also create a 2nd Trust (Ex: Smith Family Vacation Trust) that owns only the DVC properties, with your kids as Trustee as well as yourselves. Then everyone gets a blue card. Your other assets stay separate in your original trust. If one of your kids goes thru a messy divorce, that is still a potential issue depending on your state laws.

 

[EPCOT Terran]

You can also create a 2nd Trust (Ex: Smith Family Vacation Trust) that owns only the DVC properties, with your kids as Trustee as well as yourselves. Then everyone gets a blue card. Your other assets stay separate in your original trust. If one of your kids goes thru a messy divorce, that is still a potential issue depending on your state laws.

Interesting and never occurred to me. We went ahead and deeded in the name of the trust with just me and DW in it. We'll deal with the kids later, if they remain fans.

 

[WeIcomeHome]

$250 document fee per deed. With 300 points and no Favorite Weeks I'd go 100, 100, 50, 50. It allows 150 to each kid and should return more value than the 250/deed if you sell.

 

[EPCOT Terran]

$250 document fee per deed. With 300 points and no Favorite Weeks I'd go 100, 100, 50, 50. It allows 150 to each kid and should return more value than the 250/deed if you sell.

Well, I ended up at 302 points with two fixed weeks and a bonus 50-pointer to get to 302. I may look at another 50-pointer in the future to get to the point where I could split the points up and still get to 150 each.