Owning DVC - Who can I purchase with?

[MARY-IN-OH]

My DH could care less about owning DVC. If...no!! Wait, I mean..When I purchase DVC, can it be jointly owned by myself and someone else? (Like my sister?).

If not, and I own it by myself, can anyone be my beneficiary? Not sure my kids would want it either, but I know my sister would. It's weird stuff to think about but she's a lot younger than I am, and loves Disney as much as I do.

thanks
mary

 

[chalee94]

My DH could care less about owning DVC. If...no!! Wait, I mean..When I purchase DVC, can it be jointly owned by myself and someone else? (Like my sister?).

i'm pretty sure you can do this, but it's generally not a good idea. it might work better if you each bought smaller resale contracts...if possible. if she's a lot younger, you could also buy a larger contract and travel with her with no problem. but if you own jointly and she runs into financial trouble, the DVC could be sold to pay her debts.

If not, and I own it by myself, can anyone be my beneficiary?

you could absolutely will the contract to your sister.

 

[dianeschlicht]

You would need to check with Florida laws before proceeding. Here in Minnesota, any real estate title owned either in part or in whole by a married person must also have the signature of their spouse, even if the spouse has no monetary or legal interest in it. I'm not sure why that is, but it might also hold true for timeshare properties, and Florida law may be different than here in Minnesota, so I'd probably check it out before you do that.

 

[MARY-IN-OH]

She is 11 yrs younger than me, (I'm 44). I would have to make sure she understands what the costs are (as in maintenance fees that do go up), and that is all she would really have for expenses besides the usual costs of a disney vacation like park tickets and food, right?.

If something happened to me, and she did not want the contract, I would trust her the most to take care of selling the contract quickly and properly, so leaving it to her would be best (at this time in our lives). I'm not planning to get a large contract, just a smaller 100-120 point contract.

So it sounds like it would probably be good enough to just make her the beneficiary of the contract, not sure what benefit there would be to joint owning it with her (?)

Hopefully, we'll be so old we won't care what happens to the contract! She'll be 90 and I'll be 101 when she is pushing me thru MK in my wheelchair, anyhow!
mary

 

[chalee94]

She is 11 yrs younger than me, (I'm 44). I would have to make sure she understands what the costs are (as in maintenance fees that do go up), and that is all she would really have for expenses besides the usual costs of a disney vacation like park tickets and food, right?.

correct.

If something happened to me, and she did not want the contract, I would trust her the most to take care of selling the contract quickly and properly, so leaving it to her would be best (at this time in our lives). I'm not planning to get a large contract, just a smaller 100-120 point contract.

just give her the info for the timeshare store or something and she'll be set.

So it sounds like it would probably be good enough to just make her the beneficiary of the contract, not sure what benefit there would be to joint owning it with her (?)

she'd have her own membership card, but it wouldn't really matter (i don't think) if you are planning to go with her.

 

[MARY-IN-OH]

If we own the contract jointly, and she has her own member card, she could get the Annual Pass discount, right? Or, is that a "same household" benefit?

thanks
mary

 

[CarolMN]

If we own the contract jointly, and she has her own member card, she could get the Annual Pass discount, right? Or, is that a "same household" benefit?

thanks
mary

If You and your sister own the contract jointly, she would be entitled to the same member benefits as you are. That includes the annual pass discount. Both your household and hers would qualify for the discount, assuming the members meet the other qualifications.

 

[helenk]

I live in PA and I was able to leave my husband off the deed as he has no interest in Disney or DVC. When I bought my points I put my 2 adult children on the deed.

 

[HayGan]

Hi Mary

Our DVC is owned jointly by my parents and myself. DH's name is not listed. I would check with your DVC guide to make sure that there is no problems with it due to your Ohio residency. If you need a reference for a great guide let me know! (I knew from our previous chats that you would end up looking at DVC!!!)

If you have any other questions, feel free to ask or pm me