Purchasing a second contract and gratuitous transfer questions

[FSUSammy]

I have 2 questions...want to make sure I understand things correctly before we do anything

1) My current AKV contract was bought resale before they change the perk benefits so I have a blue card. I purchased this before I was married so now we are working on getting my husband added to the deed so that he can have his own card. Since we are married would he still get the blue card? Or would we have to buy direct points for him to get this benefit?

2) We are looking to get another contract with both of our names at a different resort (either PVB or BLT). Is it correct thinking that if the use year is the same we'd be able to see the points from both contracts when we log in, if they are different it would be considered a new membership and we'd have to transfer between contracts? Does that mean we'd have 2 membership cards, one that is blue and one that isn't?

 

[thanxfornoticin]

I can answer part of question 2 for certain. If you purchase a BLT resale contract (as an example of one of your options) with the same use-year as you AKV contract, you would see both contracts in your points portfolio. You could use the AKV contract to book rooms 7-11 months out at AKV. You could use the BLT contract to book rooms 7-11 months out at BLT. At 7 months, you could use points from either contract to book at any DVC resort.

I don't know the answer regarding the purchase of a resale with a different use-year - sorry. We have multiple contracts, but all with the same use-year, so I have no experience with the transfer process.

I do expect that if you are adding a spouse to your existing deed, on a contract that has the grand-fathered 'blue card', your husband should share the same benefits you do.

 

[CarolMN]

I have 2 questions...want to make sure I understand things correctly before we do anything

1) My current AKV contract was bought resale before they change the perk benefits so I have a blue card. I purchased this before I was married so now we are working on getting my husband added to the deed so that he can have his own card. Since we are married would he still get the blue card? Or would we have to buy direct points for him to get this benefit?

If you add him to the deed as an owner, he will get a blue card and associated perks.

2) We are looking to get another contract with both of our names at a different resort (either PVB or BLT). Is it correct thinking that if the use year is the same we'd be able to see the points from both contracts when we log in, if they are different it would be considered a new membership and we'd have to transfer between contracts? Does that mean we'd have 2 membership cards, one that is blue and one that isn't?

Don't do that until after you finish adding your husband to the original deed. Then buy the other contract and make sure to title it exactly the same as your current contract (after you add your husband). If you get the same use year (resort doesn't matter), the new contract will be added to your membership and it will be easy to use both contracts together at 7 months. Both contract will show under the same membership and your same login. Be sure to tell your broker (or guide if you go direct) that you want to add the new contract to your existing membership.

If you buy a different use year, you will have two separate memberships, even if you buy the same resort. As far as the member website goes, both memberships will show up in the same log in account , but you will have to book as though the memberships belonged to two different people. It can be done, but using the "work arounds" can be a hassle, depending on how you want to use the points.

 

[EatMoreVeg]

I can probably add a bit more to the above. If you title your new contract AND have the same UY as your AKV contract, then both contracts would be under the same membership number.

If you get a different UY (regardless of how the contract is titled), your second contract would be under another membership number, and yes, you would essentially have two memberships (one white card, one blue card). To use points collectively at the 7-month mark, you would need to transfer points from one membership to the other.

If you re-title your AKV contract to include your husband, he should be eligible for blue card perks. You don't need to buy additional eligible points for him.

 

[FSUSammy]

Follow up question....I have my AKV financed with Monera. In searching through threads here it sounds like Monera insists that everyone on the loan is on the deed and vice versa. Will this be an issue???

 

[supersnoop]

Follow up question....I have my AKV financed with Monera. In searching through threads here it sounds like Monera insists that everyone on the loan is on the deed and vice versa. Will this be an issue???

If it's a mortgage or otherwise secured by the property, then you can't add someone to the deed without also adding them to the loan. They hold an undivided interest in the property and you can give it, or a portion of it, to someone else without their permission.

If, on the other had, it's a personal loan with no security, then you can do whatever you want with the property.

 

[FSUSammy]

If it's a mortgage or otherwise secured by the property, then you can't add someone to the deed without also adding them to the loan. They hold an undivided interest in the property and you can give it, or a portion of it, to someone else without their permission.

If, on the other had, it's a personal loan with no security, then you can do whatever you want with the property.

Thank you! That's exactly what I needed to know.

I went ahead and emailed LTTransfers to confirm since our current home only has myself on the mortgage and both my husband and myself on the deed so I know it's possible to do it this way, just not sure if it's possible for this purpose.