Purchasing today - couple of questions

[Merylj]

I think we should purchasing 150 pts at SSR today but I have a couple of questions.
DD who is 19 is one person we expect to get use out of this so can she be named as an owner along with me and DH?
We are getting 2006 points backdated, our use year will be Nov so what dues should we be paying.
Thanks, my brain is in such a tangle - I can`t think straight!

 

[rahrah]

Owning property in joint with anyone other than your spouse is not a good idea. In most cases it is a terrible idea. There are no real advantages to putting a childs name on the deed. It does however raise all sorts of questions about who pays for what, who gets tax deductions, who gets control, and all sorts of issues arround selling.

Issues of marriage and divorce can make things really nasty. I know that no one wants to think about it, but imagine DD marries DSIL whom you cannot stand, and they then get a divorce. Your DVC goes into the mix. DSIL hates you because you never liked him, and uses the DVC to take revenge.

 

[BlakeNJ]

I think we should purchasing 150 pts at SSR today but I have a couple of questions.
DD who is 19 is one person we expect to get use out of this so can she be named as an owner along with me and DH?
We are getting 2006 points backdated, our use year will be Nov so what dues should we be paying.
Thanks, my brain is in such a tangle - I can`t think straight!

As far as 2006 dues, they will be prorated. We bought in Dec. 2006 with Oct. 2006 points. Since we "received" the points in December, we payed the prorated price of the dues from our purchase date, Dec. 23 to Dec. 31. We also bought 150 points at SSR and our dues for 2006 were around $12 or so. I am not sure how this will work for you since you are buying after Dec. 31 2006. I suggest you call your guide before you sign on the dotted line.

As far as putting your DD on the deed. I don't see the reason why. There is not need for the purpose of inhertiance and she isn't splitting the cost or dues with you, is she? It would seem like a large responsibility for a 19 yo if that was the case.

Best of luck and WELCOME HOME!

 

[dianeschlicht]

Instead of listing DD as an owner, put her on as an associate. We did that for both of our adult kids, and they are able to make their own reservations that way.

 

[DisDaydreamer]

I'll bet Daine's response covers what you want to accomplish.

One other reason not to put DD on deed.... If you all "kick the bucket" and she decides to sell the property then she will have pay any capital gains taxes based on the original purchase price, whereas, if she inherits the property, the original purchase price will be based on the market value at the time it was inherited.

 

[Merylj]

Thanks for the great advice.
Have put DD`s name down as an associate