Question Re: names on contract and buying

[lionqueen]

Hi. I am a current DVC member that bought back in 2001 so I have been grandfathered in from all the new rules with buying resale contracts. If I bought another resale contract today and added my son's name onto that contract would that contract be grandfathered in (since I am grandfathered with the previous contract) or would that contract fall under the new rules since there is a new name on it? Hope that makes sense. Thanks!!

 

[BillPA]

The new contract would fall under the new rules.

 

[_auroraborealis_]

The new contract would fall under the new rules.

And will no matter whose names are on it. Points are qualified or not.

 

[Deb & Bill]

Changing names on a contract makes it a new contract. If you added your son to your other contracts and then bought the new one, it would be the same member number as long as it was the same UY. Or you buy the contract with just your name and go back and add your son to all the contracts. But if he is only on one, it's a different member ID and the new rules apply.

No matter what you do, the new rules apply to the new resale.

 

[lionqueen]

Changing names on a contract makes it a new contract. If you added your son to your other contracts and then bought the new one, it would be the same member number as long as it was the same UY. Or you buy the contract with just your name and go back and add your son to all the contracts. But if he is only on one, it's a different member ID and the new rules apply.

No matter what you do, the new rules apply to the new resale.

so if I add my son onto my current contract and bought a resale and deeded it with my son and my name on it then would he get the benefits from the original contract?

 

[Deb & Bill]

so if I add my son onto my current contract and bought a resale and deeded it with my son and my name on it then would he get the benefits from the original contract?

Yes, he should be grandfathered in on the original contracts that he was added to. But he would need to be added to all your contracts. You won't be able to just add him to one of the contracts if you have more than one. Different names mean different member numbers. A new number might mean not grandfathered.

 

[lionqueen]

Yes, he should be grandfathered in on the original contracts that he was added to. But he would need to be added to all your contracts. You won't be able to just add him to one of the contracts if you have more than one. Different names mean different member numbers. A new number might mean not grandfathered.

Thanks. I only have one contract. so it sounds like your reply might work for us.