Shared Contract?

[Where'sPiglet?]

I would get your own contracts and alternate years for whose contract you use.

 

[Chili327]

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.

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.

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


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

Holy crap, I can’t reply to all. lol

Here is the deal…
1. It would be (for example) the 200 Aulani subsidized contract. So great way for us to have SAP.
2. All of my contracts are and will be willed to their kids (my god daughters)
3. I appreciate everyone’s concerns, but worse case scenario, if the **** hits the fan, we sell it.
4. It’s just a thought (for now) I haven’t even finalized my 2nd contract yet, so I’m just thinking out loud on how it would work for the future.

 

[intamin]

Holy crap, I can’t reply to all. lol

Here is the deal…
1. It would be (for example) the 200 Aulani subsidized contract. So great way for us to have SAP.
2. All of my contracts are and will be willed to their kids (my god daughters)
3. I appreciate everyone’s concerns, but worse case scenario, if the **** hits the fan, we sell it.
4. It’s just a thought (for now) I haven’t even finalized my 2nd contract yet, so I’m just thinking out loud on how it would work for the future.

As long as you're aware of all the repercussions then obviously the decision is yours to make. It seems like you have an amazing relationship with these friends and are fortunate to have them in your life. Regardless of what you end up choosing I hope everything works out in the end.

 

[Sandisw]

Holy crap, I can’t reply to all. lol

Here is the deal…
1. It would be (for example) the 200 Aulani subsidized contract. So great way for us to have SAP.
2. All of my contracts are and will be willed to their kids (my god daughters)
3. I appreciate everyone’s concerns, but worse case scenario, if the **** hits the fan, we sell it.
4. It’s just a thought (for now) I haven’t even finalized my 2nd contract yet, so I’m just thinking out loud on how it would work for the future.

Just one last comment…if owned jointly, both have to agree to sell…neither of you can sell without the other agreeing.

 

[RoseGold]

I'm here, whew.

Don't do this. To pull from last time I posted this, this is a shared asset in another state, maybe another country. One of your joint owners can get sued, go to prison, stop paying the dues, steal all the points, file for bankruptcy, die, go missing for years, have a nasty divorce, I can keep going. You can get tangled up in all of this over a timeshare. Heck, just probating this thing with a normal death in the family can be complicated, as you can see on these boards. Add a bunch of other people/heirs, and what a mess.

There's no "just sell it" in any of these scenarios.

Oh, and this is Hawaii, so you have the Hawaii tax and all of that. Hope you're ready to handle of that in Hawaii and Hawaii probate, and maybe pay capital gains tax in Hawaii?

If you must do this, you absolutely need legal advice, as business partners buying an asset in Hawaii, and you need to be prepared to probate and for a bunch of nasty scenarios, which can and have happened in DVC.

Even buying as an LLC with complicated ownership structure can drag you into nasty lawsuits and divorces and bankruptcies and Medicaid clawbacks, and I can keep going.

The most common cause for (forced) bankruptcy in the US is medical bills. This has nothing to do with whether these people are nice folks. You can be nice folks at the Dolphin, or with one person buying DVC and everyone else renting points from that person. This thread was a fun one: https://www.disboards.com/threads/k...-but-ex-is-now-filing-for-bankruptcy.3894488/

 

[Chili327]

I'm here, whew.

Don't do this. To pull from last time I posted this, this is a shared asset in another state, maybe another country. One of your joint owners can get sued, go to prison, stop paying the dues, steal all the points, file for bankruptcy, die, go missing for years, have a nasty divorce, I can keep going. You can get tangled up in all of this over a timeshare. Heck, just probating this thing with a normal death in the family can be complicated, as you can see on these boards. Add a bunch of other people/heirs, and what a mess.

There's no "just sell it" in any of these scenarios.

Oh, and this is Hawaii, so you have the Hawaii tax and all of that. Hope you're ready to handle of that in Hawaii and Hawaii probate, and maybe pay capital gains tax in Hawaii?

If you must do this, you absolutely need legal advice, as business partners buying an asset in Hawaii, and you need to be prepared to probate and for a bunch of nasty scenarios, which can and have happened in DVC.

Even buying as an LLC with complicated ownership structure can drag you into nasty lawsuits and divorces and bankruptcies and Medicaid clawbacks, and I can keep going.

The most common cause for (forced) bankruptcy in the US is medical bills. This has nothing to do with whether these people are nice folks. You can be nice folks at the Dolphin, or with one person buying DVC and everyone else renting points from that person. This thread was a fun one: https://www.disboards.com/threads/k...-but-ex-is-now-filing-for-bankruptcy.3894488/

We were waiting for you.