Ownership Q

[huey578]

Can there be 3or4 names on the DVC title?

 

[Thumper4me]

Huey,

Yes there can be multiple names on a DVC title.

 

[huey578]

Cool..thanks for the reply

 

[tjkraz]

Florida law won't allow anyone under the age of 18 to be listed on a property deed.

Also, bear in mind that DVC membership is actually deeded ownership of Florida real estate. I've heard of many situations where divorce, death or bankruptcy of one owner has impacted all of the listed owners. There are reported situations where a divorce court ordered the DVC contract liquidated due to divorce of one party listed on the deed. Bankruptcy could certainly lead to the same thing, and has the potential to adversely impact others listed on the deed (even if unintentionally.)

All listed parties will have the ability to make / change / cancel reservations. That could be a positive OR a negative depending upon the relationships involved.

Someone will have to be responsible for making the annual dues payments. Be careful of any handshake agreements among relatives or friends. What happens if one party does not live up to their end of the deal?

I know you didn't ask for that much detail and clearly I don't know anything about the circumstances, but I thought it worth pointing these things out. IMO, many joint ownership situations are just an invitation to trouble down the road. What if one party tires of visiting WDW? What if one party runs into financial trouble? What happens when someone dies? Joint ownership of a timeshare could just add unnecessary stress to the relationship.

If it's an option, consider buying smaller contracts owned independently by the parties or family units involved. You can always transfer points between those contracts to make large reservations for everyone, or just have certain people book certain nights and request that the reservations be "linked" together by DVC.