Adding adult sons to our DVC contracts

[LVSWL]

Starting to think that it might be a good idea to add our adult sons to our DVC contracts. We have 4 contracts. Looking for any advice or info regarding this process. Thanks so much!

 

[bumbershoot]

Think long and hard about this.

If they get married in the future, and then divorced, the Dvc you all own together could become part of a property settlement. If one of them has a bankruptcy, same deal.

Having a blue membership card and cheaper APs probably isn’t worth the “what if’s”.

My son is the most awesome dude and I’d do anything for him, but I doubt I’ll add him to my Dvc when he’s grown.

 

[jerseygal]

We have 2 grown sons. When we purchased we specifically bought 2 equal point contracts. There is specific reference to the contracts in our wills and each son will receive one equal contract. We are not adding them as members.

 

[jerseyduke]

DVC is deeded real estate. It is just like your house. Would you make your son an owner of your house?

I am not saying do not do it, but, as a PP said, think long and hard.

Sounds like you have a great relationship, but, WHAT IF you become estranged? Now you cant sell it if he wont sign off on it. And even though you paid for it 100% you might have no recourse to get him off of the deed in such a situation.
What if he gets married? Declares bankruptcy?

So many things could go wrong to benefit so little.

Not saying do not do it, but put some serious thought into the idea.

 

[com_op_2000]

What DW and I did:
Bought a separate contract with DDs names on that one contract.
This way they get full benefits and the original contracts we have are outside of anything bad happening in the future.
Sure it opens a 2nd membership number but that is what 5 minutes of extra thinking about which contract to use when booking.

 

[LVSWL]

It's a lot to think about. We are in no hurry to do anything so we can weigh the pros and cons. Thanks so much for all of your imput!