Titling of Deed

[mkatsy]

Yeah, Florida Land trust and the Garn-St Germain Act, but none of those help you maintain Member Benefits. I would love to talk to someone, but you can't get anyone on the phone. When I called, a woman in Member Services acted like Administration is a Secret Department with 2 employees that no one can get in touch with. Once a person called me in response to an email, and when I mentioned anything about Beneficiary, she froze, and said nothing. The Beneficiary is not on the deed, so Disney doesn't care about the beneficiary. You can deed it anyway you want, BUT if Disney won't put you in the position of an officer of a company that is the Trustee, then you lose member benefits.

Just spoke with my DVC Cast Member, he hasn't heard of not being able to put into a corporation, and recommends calling Quality Assurance Team. The quality Assurance Team put me through to Vista Title, and she got me answers by texting another person.

Newer Rule:
You can't buy DIRECT if you have an LLC, corporation or Partnership. That limits you to Resale with that ownership structure.
(Still don't fully believe this)

Hmmm … that’s disappointing. I don’t really believe that either, but I’m not sure this is solvable without an attorney.

 

[mjmarshall1510]

Why not hold the deeds in a Florida land trust? Then NOBODY knows who you are. In Florida, there are no annual filing fees/requirements for a land trust.

In my experience, land trusts can be hard to unwind and clumsy to operate, especially if the trustee is not the best. You are at the mercy of their responsiveness, among other things. I have seen land trusts where the representatives of the trust refuse to use e-mail, don't return calls for weeks, act totally confused at the slightest request when you do talk to them, etc. Especially when it's something outside of their comfort zone, like I imagine DVC would be. There are good ones too, don't get me wrong. But, a Delaware LLC is just me, myself and I (but no one can see that), just really the same as if I owned the contract in my name individually, so I never need to rely on someone else. Anything that needs to get done gets done on my time with a few clicks of the mouse.

 

[Billychris]

Hmmm … that’s disappointing. I don’t really believe that either, but I’m not sure this is solvable without an attorney.

After the phone call from Vista, and putting all of the pieces she said together, I realized that Disney Limits Vista, and not the Owner from deeds having anything to do with corporations. She said Vista can not help with corporations, then she called me back to say that they no longer put corporations on deeds, BUT, if I do, then you can't buy Direct. That's because Vista only works with individuals and NOT corporations.

Final thoughts: Vista sucks with its limitations and presents them as Owner limitations, but they ARE Vista's limitations.
(Very annoying and deceptive)

All of my questions are solely about keeping Disney's Member Benefits, they are not about Legality. These contracts belong to me, I am legally allowed to move them into any form of estate planning that my structure allows. Disney can ONLY restrict my Member Benefits for a bunch of reasons, but they can't restrict how I move my deed into my estate planning.

 

[mkatsy]

After the phone call from Vista, and putting all of the pieces she said together, I realized that Disney Limits Vista, and not the Owner from deeds having anything to do with corporations. She said Vista can not help with corporations, then she called me back to say that they no longer put corporations on deeds, BUT, if I do, then you can't buy Direct. That's because Vista only works with individuals and NOT corporations.

Final thoughts: Vista sucks with its limitations and presents them as Owner limitations, but they ARE Vista's limitations.
(Very annoying and deceptive)

All of my questions are solely about keeping Disney's Member Benefits, they are not about Legality. These contracts belong to me, I am legally allowed to move them into any form of estate planning that my structure allows. Disney can ONLY restrict my Member Benefits for a bunch of reasons, but they can't restrict how I move my deed into my estate planning.

Ok, so what about buying direct in your name. After the deed is recorded and the points are loaded, then use an outside title company to gratuitous transfer the deed to the trust. The trustee will be the LLC who I assume you are an officer of. However, this won’t work if your main objective is privacy, because the transfer is public record. But … it will maintain the direct status of the points.

 

[Sandisw]

After the phone call from Vista, and putting all of the pieces she said together, I realized that Disney Limits Vista, and not the Owner from deeds having anything to do with corporations. She said Vista can not help with corporations, then she called me back to say that they no longer put corporations on deeds, BUT, if I do, then you can't buy Direct. That's because Vista only works with individuals and NOT corporations.

Final thoughts: Vista sucks with its limitations and presents them as Owner limitations, but they ARE Vista's limitations.
(Very annoying and deceptive)

All of my questions are solely about keeping Disney's Member Benefits, they are not about Legality. These contracts belong to me, I am legally allowed to move them into any form of estate planning that my structure allows. Disney can ONLY restrict my Member Benefits for a bunch of reasons, but they can't restrict how I move my deed into my estate planning.

Because membership extras are incidental benefits, that might play a role in who is eligible ones the owner is a corporation, LLC or trust?

They have always given them but no idea if they have to legally?

Did you look at the T and C of membership extras to see if it gives any insight?

One of the reasons they can restrict them from resale is because they are incidental and not part of the contract.

 

[VGCgroupie]

Newer Rule:
You can't buy DIRECT if you have an LLC, corporation or Partnership. That limits you to Resale with that ownership structure.


WOW. So when we thought DVC was taking some strides for commerical renting, it turns out they are just doing it to stop member benefits not to stop the renting. Commercial renters aren't buying direct w/ LLC they are buying foreclosures and resales. Absolutely ridiculous.

 

[Sandisw]

Newer Rule:
You can't buy DIRECT if you have an LLC, corporation or Partnership. That limits you to Resale with that ownership structure.


WOW. So when we thought DVC was taking some strides for commerical renting, it turns out they are just doing it to stop member benefits not to stop the renting. Commercial renters aren't buying direct w/ LLC they are buying foreclosures and resales. Absolutely ridiculous.

Except, think long term….resale is locked out of new resorts so over time, those businesses won’t be able to book as many resorts.

Sure, it might take time to get there but it’s a step in the right direction, isn’t it?

My guess…and this would be a legal question…is that they may not be able to legally prevent an owner from selling to whomever they want, including an LLC.

The contract doesn’t include any such stipulation when selling.

Now, it would be interesting to see if DVD decided to increase ROFR when the buyer is an LLC?

 

[VGCgroupie]

Except, think long term….resale is locked out of new resorts so over time, those businesses won’t be able to book as many resorts.

Sure, it might take time to get there but it’s a step in the right direction, isn’t it?

My guess…and this would be a legal question…is that they may not be able to legally prevent an owner from selling to whomever they want, including an LLC.

The contract doesn’t include any such stipulation when selling.

Now, it would be interesting to see if DVD decided to increase ROFR when the buyer is an LLC?

It will never fix VGC or BWV. which are important to me. I consider this one step forward 2 steps back. It will just make the situation at those 2 resorts even worse.

 

[Billychris]

Ok, so what about buying direct in your name. After the deed is recorded and the points are loaded, then use an outside title company to gratuitous transfer the deed to the trust. The trustee will be the LLC who I assume you are an officer of. However, this won’t work if your main objective is privacy, because the transfer is public record. But … it will maintain the direct status of the points.

Yes, I was only inquiring with Member Admin at the end of the summer to get the ball rolling, then hit some push back. That is my plan now, except that I will be recording the deeds myself using Simplifile. The Trustee is my dedicated Trust Company, LLC that I have control over. I am not doing this for anonymity, I just need it within my structure for perpetuity. That's the whole point, controlling, not owning.

I will be creating a test scenario by splitting a Member ID into 2, then see IF my sales rep has the ability to deed to an LLC as Trustee, if not then I have my answer, and that is fine as well.

I love my Direct status combined with Beyond, they keep adding to what they can do together. I bought 2 resale contracts this year, and hit more snags trying to do what I thought was simple things while on the phone with Member Services... (Nope that contract is resale)

 

[Billychris]

Newer Rule:
You can't buy DIRECT if you have an LLC, corporation or Partnership. That limits you to Resale with that ownership structure.


WOW. So when we thought DVC was taking some strides for commerical renting, it turns out they are just doing it to stop member benefits not to stop the renting. Commercial renters aren't buying direct w/ LLC they are buying foreclosures and resales. Absolutely ridiculous.

Really nice Signature stickers! Did you ave Ai build those?

 

[VGCgroupie]

Really nice Signature stickers! Did you ave Ai build those?

Thanks!! There is a new thread going and some are creating some super cool images with AI. Come on over!

https://www.disboards.com/threads/dvc-signature-images-and-tutorial.3977940/

 

[Billychris]

Because membership extras are incidental benefits, that might play a role in who is eligible ones the owner is a corporation, LLC or trust?

They have always given them but no idea if they have to legally?

Did you look at the T and C of membership extras to see if it gives any insight?

One of the reasons they can restrict them from resale is because they are incidental and not part of the contract.

I ran the collateral documents in the portal through Chat GPT yesterday to see if there were any restrictions for a Corporation buying or using Benefits in any way, and nothing that meant anything was there. I think you are either eligible for benefits or not regardless of Individual or Corporation ownership, but Disney is Certainly tightening the belt on resale. I like that buying Direct is becoming easier to justify.