Title Question

[DM3MD]

We are current owners who are wrapping up a resale add-on... I know in order for it to be added to our current membership account, it needs to be titled the same. The deed was recorded today and for the most part, it looks good... same names, same address, all listed as joint tenants with rights of survivorship... however, I noticed that the add-on also lists that we are married (which is true, but it's not listed on the other contracts). Does anybody know if this will present an issue? Should I contact MS/MA ahead of time to make sure things go smoothly? Thanks in advance!

 

[disneynutz]

Shouldn't be an issue for DVC but it may be an issue for your estate plan. I would contact the closing company for an explanation of the different forms of taking title.

Bill

 

[miTnosnhoJ]

We are current owners who are wrapping up a resale add-on... I know in order for it to be added to our current membership account, it needs to be titled the same. The deed was recorded today and for the most part, it looks good... same names, same address, all listed as joint tenants with rights of survivorship... however, I noticed that the add-on also lists that we are married (which is true, but it's not listed on the other contracts). Does anybody know if this will present an issue? Should I contact MS/MA ahead of time to make sure things go smoothly? Thanks in advance!

Florida has a category of ownership called Tenants by the entirety. You can tell if you are in this category because your deed will say something like Mr. and Mrs. Nosnhoj, Husband and Wife. This category is only for married couples and is better than Joint Tenants with Rights of Survivorship in certain circumstances. If you have more people on the deed than just husband and wife, then the best you can do is JTWROS.
If Disney will accept all these different wordings and put them in the same contract for you, then there is no real need to change them. If Disney makes you get a separate membership because of the different titling, then it is worth changing. But I am not a lawyer.

A Florida tenancy by the entirety (also called tenancy by the entireties or estate by entirety) is a special form of joint ownership that is available only to a married couple. A tenancy by the entirety treats the husband and spouse as a unit.

 

[Wakey]

Tenant in common means both halves of the property are divisible. So wife died and can leave her half to sister for example. Joint tenant means survivor automatically inherits the other half, and it can only be sold as a whole.
At least this is what it means in the UK.
Most married couples prefer a joint tenancy of any property for simplicity.
Back to OPs original question, I'd call them.

 

[miTnosnhoJ]

Tenant in common means both halves of the property are divisible. So wife died and can leave her half to sister for example. Joint tenant means survivor automatically inherits the other half, and it can only be sold as a whole.
At least this is what it means in the UK.
Most married couples prefer a joint tenancy of any property for simplicity.
Back to OPs original question, I'd call them.

I have corrected my post. I should have said Tenants by the entirety. Shouldn’t have done that from memory.