Shared Contract?

[Chili327]

Was wondering about going in on a contract with friends.. I think I've asked in the past, but not sure I understood DVC as well back then.

So I'm kind of just clarifying... I have my own contracts, and if I wanted to go in on one with friends (people i always travel with for Disney trips), if we bought one in both their name and mine, it would be completely separate from my others, & so would anything we wanted to add-on? the "shared" contract/membership becomes its own and even if they wanted to add-on they wouldn't add-on to the shared, it would be a new membership? and technically it wouldn't be an "add-on" it would be new (my terminology might be wonky, but if you get what I'm asking. lol)

 

[aceshigh73]

Just like how fences make for good neighbors, separate contracts make for lasting friendships...

 

[Chili327]

Just like how fences make for good neighbors, separate contracts make for lasting friendships...

Yea, I'm fully aware of that kind of stuff, but this isn't an issue (which is why I explained we have been traveling together for 25+ years). We would always be sharing points on trips anyway. It would just be for sleep around points for both of us. \m/

 

[aceshigh73]

Yea, I'm fully aware of that kind of stuff, but this isn't an issue (which is why I explained we have been traveling together for 25+ years). We would always be sharing points on trips anyway. It would just be for sleep around points for both of us. \m/

I know why you would want to do it. And i even had an idea in my head while we were shopping for contracts to buy one with my sisters family and we'd get this whole big contract and we'd pull points from it and go on vacation and everything would be hunky dory. Then I realized thats a terrible idea and to keep things separate. **** happens, things happen, life happens, lawyers happen... Good luck with whatever you decide!!!!

 

[Sunnyore]

Was wondering about going in on a contract with friends.. I think I've asked in the past, but not sure I understood DVC as well back then.

So I'm kind of just clarifying... I have my own contracts, and if I wanted to go in on one with friends (people i always travel with for Disney trips), if we bought one in both their name and mine, it would be completely separate from my others, & so would anything we wanted to add-on? the "shared" contract/membership becomes its own and even if they wanted to add-on they wouldn't add-on to the shared, it would be a new membership? and technically it wouldn't be an "add-on" it would be new (my terminology might be wonky, but if you get what I'm asking. lol)

Yes it sounds like you understand it.

 

[Sandisw]

You got it. Contracts must be titled the same UY and have the same owners to go into a membership. Any change to either of those creates a new membership.

Now, once an owner, one is eligible for member pricing in terms of incentives, but if they want to have more contracts on their own, it wouod need to be a new membership and be for an amount at the minimum level if going direct

 

[Chili327]

I know why you would want to do it. And i even had an idea in my head while we were shopping for contracts to buy one with my sisters family and we'd get this whole big contract and we'd pull points from it and go on vacation and everything would be hunky dory. Then I realized thats a terrible idea and to keep things separate. **** happens, things happen, life happens, lawyers happen... Good luck with whatever you decide!!!!

Oh god no... I'd never share it with family. That's crazy talk. lol
I definitely get that **** happens, but i feel pretty good about it with people that I've traveled with for 25 years, but as you said I may be sorry I did it one day. If that was the case or it became an issue we could just sell it, or whatever other options made sense at the time.

 

[Chili327]

You got it. Contracts must be titled the same UY and have the same owners to go into a membership. Any change to either of those creates a new membership.

Now, once an owner, one is eligible for member pricing in terms of incentives, but if they want to have more contracts on their own, it would need to be a new membership and be for an amount at the minimum level if going direct

So we technically would be looking at 3 different types of membership. my solo, theirs solo & a shared one, and anything added on strays with the one being added on to. (makes sense).

What about usage, names on the contract don't matter as long as the name checking-in match whoever the stay was made for, even if one or the other, or neither of us?

Also about paying MF, is it better if one person just pays it & collects from the other or does Disney care what form of payment is made or if made in 2 payments from different people? (or is that an unknown because no one does this. lol)

 

[CarolynFH]

So we technically would be looking at 3 different types of membership. my solo, theirs solo & a shared one, and anything added on strays with the one being added on to. (makes sense).

Exactly.

What about usage, names on the contract don't matter as long as the name checking-in match whoever the stay was made for, even if one or the other, or neither of us?

You’ve got it, an owner can name anyone as primary guest and additional guests. Does not have to be an owner.

Also about paying MF, is it better if one person just pays it & collects from the other or does Disney care what form of payment is made or if made in 2 payments from different people? (or is that an unknown because no one does this. lol)

Anyone who can log on to the member website for a given contract can make a dues payment online. Monthly autopay would be set up as a draft from an individual’s bank account, so whose account that was would be up to y’all.

 

[DonMacGregor]

@RoseGold must be taking the day off...

 

[Chili327]

@RoseGold must be taking the day off...

Is she the expert, or did i break a rule? lol

 

[aceshigh73]

Is she the expert, or did i break a rule? lol

@RoseGold doesnt mince words...

 

[Sandisw]

So we technically would be looking at 3 different types of membership. my solo, theirs solo & a shared one, and anything added on strays with the one being added on to. (makes sense).

What about usage, names on the contract don't matter as long as the name checking-in match whoever the stay was made for, even if one or the other, or neither of us?

Also about paying MF, is it better if one person just pays it & collects from the other or does Disney care what form of payment is made or if made in 2 payments from different people? (or is that an unknown because no one does this. lol)

To add to what Carol posted, what might work well for dues is that each of you pay half in January and not worrying about paying monthly. That is what I would due if going in with someone else who I was splitting costs with.

 

[Jwaire]

First of all, direct or resale? Financing or pay with cash? And how many points are we talking? It's one thing to split a $6000 BWV 50 pt resale contract with a close friend and it's another to split a 300 point $65,000+ VDH contract with a friend.

Why not just halve the points? If you need say 100 more points for both of you, just split it. You buy 50. They buy 50. You can sell it for more later down the line anyway.

This is a terrible idea for so many reasons. I don't care if you traveled together for years.

 

[Polychrome]

If you DO move forward with the joint contract, think about how you want the title / deed to be noted, whether right of survivorship vs tenants in common, etc. You could prove people wrong and everything might go terrific until one of you passes before the end date of the contract or before selling the contract. At that time, there could be some unhappiness with relatives that may inherit one half of the deed. I'm not sure, but as Jwaire mentioned, maybe each person purchasing half the amount of points would work. You could actually each buy at a different resort, in the same use year, then, depending on you trip needs and desires, you could do a once a year transfer to the other person's contract to cover the amount of points you need for the whole trip. This would also give you that 11 month booking ability at two resorts instead of one resort. Just an idea. The membership dues would be a bit different for two different resorts and that would be something you guys would have to decide how to handle. I would think just split the total amounts for years you guys share points and pay yourselves for years you don't end up sharing points.
Good luck !

FYI, I too, would vote as not a good idea to move forward with a joint contract with friends, but if you do so anyway, do think about how the title is noted about survivorship.

 

[AstroBlasters]

FWIW, I would strongly advise against doing this.

 

[Jwaire]

I'm not sure, but as Jwaire mentioned, maybe each person purchasing half the amount of points would work. You could actually each buy at a different resort, in the same use year, then, depending on you trip needs and desires, you could do a once a year transfer to the other person's contract to cover the amount of points you need for the whole trip. This would also give you that 11 month booking ability at two resorts instead of one resort. Just an idea.

That's a great idea. You could even borrow from each contract every other year.

 

[intamin]

FWIW, I would strongly advise against doing this.

Ditto. I don't understand why it would be so bad for each couple to have their own contract at different home resorts and then when you guys want to swap points between one another just do a transfer with member services. You're not really gaining that much more convenience in exchange for a lot of risk. It's not like you can't book the things you guys want together. The only perk you get from having everyone together on the contracts is everyone gets the perks which if you guys really travel together that often you'll have regardless and even if they don't get it, is it really worth a 5 cent cup of soda and AC?

It's messy enough with having all of your own family on a contract, it's even worse with people you're not related to. I'm usually free spirited with this stuff but this is a no from me dawg

@RoseGold must be taking the day off...

LOL that's exactly who I thought of. She would be going off if she was on here

 

[BruinEd03]

Oh god no... I'd never share it with family. That's crazy talk. lol
I definitely get that **** happens, but i feel pretty good about it with people that I've traveled with for 25 years, but as you said I may be sorry I did it one day. If that was the case or it became an issue we could just sell it, or whatever other options made sense at the time.

As others have mentioned there are so many things that could go wrong that goes beyond "traveling together" for 25 years.

*Spouses divorce and are required to sell - what happens?
*One family goes bankrupt and their assets are seized - what happens?
*One family wants to sell, but the other doesn't - what happens?
*One family passes away - what happens?
*One family pays the dues January 15. The other waits till the grace period is almost over - Do you want to be sweating it out and wondering how you ask them? Or do you want to be badgered by the other family on when you pay?
*One family can't make it one year - what happens?
*One family has a long term illness - what happens?
*One family retires and this is no longer in their plans - what happens?

What is the benefit of jointly owning the points together that can't be accomplished by separate points?

 

[Cyberc1978]

I see that many or at least some advising against doing this.

I'm not saying its good idea, not saying it's a bad one either.

Had it been me, I would list all the pro and cons of doing this. There are some great points here for the cons.

Then I would take all the cons and sit down together with the friends I'm buying with and have a talk about how to work around the cons BEFORE they become an issue.

Then put everything into a joint ownership agreement - don't know if that is binding after your dead? - without the agreement being a will

This is much like going into a relationship without being married. You should sit down, while your are still in love, and talk about what should happen with your assets if you do decide to breakup. Ie. What should happen to the house, car etc. If the down payment which was paid, you paid like 100% and your partner 0% then maybe you should have that much more than your partner.

There is no way to agree to this after a breakup and things potentially get messy.