Why does it matter who is named on deeds?

[jacquellie]

I was going to buy DVC resale all by myself with my own money and then just take my husband and daughter on holiday without them knowing I’d bought a timeshare (I have my reasons!). But now I hear people talking about putting other people on the deeds as if it’s a problem not to. Would my DH and DD be at some sort of disadvantage to me If they weren’t named on the deeds? I should maybe add my daughter is only 8.

 

[siren0119]

I don't know how real estate works in the UK, but in the US if you purchase real estate (which is basically what you're buying when you buy DVC, the "real estate" is just a percentage of the resort), people named on the deed will have legal rights to the "property". Assuming you and your husband own a home together, you'd want to view your DVC ownership through the same lens. I don't believe children can be added to the DVC deeds until they are of legal age since it is a binding contract, but once she was old enough if her name is on the deed then if anything happened to you or your husband she would already have legal ownership of the timeshare contract without having to go through legal processes to take over.

 

[Dismrk155]

On our real estate contract, we had a lawyer dot the eyes and cross the tees to make sure the proper names we're on the deed.

 

[ORD2KOA]

IME, how it's deeded mostly has to with estate planning.
This could be worth reading, if only to be sure that you're aware of possible situations:
https://www.redweek.com/resources/articles/passing-on-your-timeshare

 

[MouseOfCards]

IME, how it's deeded mostly has to with estate planning.
This could be worth reading, if only to be sure that you're aware of possible situations:
https://www.redweek.com/resources/articles/passing-on-your-timeshare

Thanks for sharing this info.

 

[ORD2KOA]

That focused on trusts, which wasn't the question, but I thought it covered some of the main things to think about.

 

[Shelly F - Ohio]

If you want to buy a Gold Annual Pass they would not be able to get one because they are not listed.

 

[CarolMN]

If you want to buy a Gold Annual Pass they would not be able to get one because they are not listed.

As long as they are immediate family members and live at the same address as the owner, they are eligible to purchase the various DVC annual passes. Of course the owner needs to be a "blue card" owner to qualify for Membership Extras, which include the annual pass perk.