Unusual Ownership/Transfer Question

[tedhowe]

Hi all.

I have an unusual ownership/transfer question and I was wondering if any of you had any ideas. I am planning to call my guide tomorrow to try to get some answers, but figured I'd ask here as well.

My wife and I are owners in common on our DVC membership (150 HHI points).

My parents own 320 points at OKW. For a variety of reasons, they have decided that the don't want to maintain the ownership any more, and since I was thinking about adding on, my parents have offered to transfer their membership to me and my brother via a quit claim deed (reading other threads I am fairly certain Disney normally waives ROFR in situations like this).

When my parents bought the OKW membership in 1993, it was with the intention of allowing vacations for themselves and my 5 adult brothers and sisters and myself. The only ones of the kids who have used the account at all are my wife and I and my brother and sister in law, so my parents decided to just pass along the membership to the two of us.

Here's my question:

Since I am already involved in a DVC membership with my wife - where the two of us are the members, am I able to be part of another membership with my brother where we would both be members?

I'm sure it's an unusual situation, but I was wondering if any of you have heard of something like this before.

Thanks,

Ted

 

[drusba]

Your having an ownership interest with your wife has no effect on whether your parents can transfer to your brother and you, which can be done. As it will be a gift (I am assuming that is what is contemplated), DVC will waive ROFR. It will be a contract completely seperate from the one you have with your wife and your brother and you will need to determine how to divide its use and DVC will likely want to bill only one home address for the dues.

 

[tedhowe]

Thanks, that's good to know.

We've already discussed the dues... we will probably set up a direct debit from DVC to one of our checking accounts for dues and then an automatic electronic payment from the other brother to hit a few days before the DVC payment does.

That detail at least is easy to take care of with online electronic banking these days.

 

[Dean]

Simply be aware this will be a totally separate membership unless you were to title it the same as your current one. Unless the original contract is multiple contracts together, you will not be able to split it up.