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Old 12-21-2016, 02:31 AM   #1
jasonsack
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Default Handing Down DVC Membership to Family Member?

I do not have a DVC membership, but my Mom and Dad bought two separate PVB contracts direct from Disney last year. Both of the contracts are in my parent's names, even though the contracts were purchased for the enjoyment of our entire family which includes myself, my wife and our two girls.

On our Disney trip last month, it became apparent to my parents that one of the two contracts should have been purchased in my name along with my wife so that we could benefit from the DVC membership perks like my parents do. So my parents have requested paperwork to sign over one of the contracts into our names. Woo Hoo!

My question for you MOs out there is can anyone confirm if a contract originally purchased direct from Disney that has been handed down (not sold) to a family member without transferring money still be considered a direct purchase contract?

I'm curious to know if I should entertain possibly purchasing a small direct contract from Disney once the transfer is complete or will I be good to go once I receive the contract in my name.

Thanks in advance. I've been reading MO posts for many months now, but finally had a reason to post something myself.
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Old 12-21-2016, 03:02 AM   #2
JaneBanks
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Since it is being transferred between family, and no money is changing hands, it will retain its original perks.
I am in the process of doing this with my parents, who are transferring their SSR contract to myself and my husband. There is a title transfer fee, but the papers DVC sends will spell things out for you.
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Old 12-21-2016, 09:00 AM   #3
John2247
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I think that Disney also retains the right of ROFR even though no money has changed hands.

John
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Old 12-21-2016, 12:07 PM   #4
tink711
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Quote:
Originally Posted by John2247 View Post
I think that Disney also retains the right of ROFR even though no money has changed hands.

John
I think it does have to go through ROFR as a formality, but it's just a formality. There would be no purpose in trying to take it because the original owners could just back out of the gift the same way a seller can always back out of the sale. The only purpose I could ever see would in DVC even trying to exercise ROFR in this situation is maybe if there was someone very undesirable that they did not want to have ownership in the Club. I am sure that somewhere in all those documents are clauses on things that could cause someone to get kicked out and they probably want to have a way to prevent that person from getting back in via a back door.
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Old 12-21-2016, 02:32 PM   #5
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Quote:
Originally Posted by jasonsack View Post
I do not have a DVC membership, but my Mom and Dad bought two separate PVB contracts direct from Disney last year. Both of the contracts are in my parent's names, even though the contracts were purchased for the enjoyment of our entire family which includes myself, my wife and our two girls.

On our Disney trip last month, it became apparent to my parents that one of the two contracts should have been purchased in my name along with my wife so that we could benefit from the DVC membership perks like my parents do. So my parents have requested paperwork to sign over one of the contracts into our names. Woo Hoo!

My question for you MOs out there is can anyone confirm if a contract originally purchased direct from Disney that has been handed down (not sold) to a family member without transferring money still be considered a direct purchase contract?

I'm curious to know if I should entertain possibly purchasing a small direct contract from Disney once the transfer is complete or will I be good to go once I receive the contract in my name.

Thanks in advance. I've been reading MO posts for many months now, but finally had a reason to post something myself.
Welcome to MOs!!

I see no reason that you should purchase a small direct contract once your parents have signed over a contract in your name. Good for you, BTW! If you require more points in the future you should be able to buy resale and save a bundle.

We are planning to eventually sign over our contracts to our 3 daughters so have a passing interest in this thread. Please come back and let us know how it goes for you. Congratulations, your parents are very generous.
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Old 12-30-2016, 02:36 PM   #6
wgollub
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There is several ways of doing this consult members services. I just went through this and found my best way was to add the children to the deed .Which will require a new dead being recorder and about $750.00 dollars in fees to get it done.Disney will spell it all out and give you a couple of Title company's to do the transaction....All done by fax email & FedEx takes about 4 months........




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Old 12-30-2016, 03:18 PM   #7
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Quote:
Originally Posted by JaneBanks View Post
Since it is being transferred between family, and no money is changing hands, it will retain its original perks.
I am in the process of doing this with my parents, who are transferring their SSR contract to myself and my husband. There is a title transfer fee, but the papers DVC sends will spell things out for you.
Still it has to go thru ROFR.

I would first add the name then delete parents at a later date. I believe you can bypass ROFR and retain the perks this way.
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Old 12-30-2016, 03:35 PM   #8
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Disney allows the perks to remain with gratuitous transfers to family members so you'll be fine. No need to get fancy with it.

No need to worry about ROFR either unless someone is being an absolute ***hole.
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Old 04-18-2017, 10:11 PM   #9
jasonsack
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For those of you that were interested in a follow up with this thread...

The process took about 3.5 months from start to finish, but today I received a digital copy of my DVC membership card.

Just so you know... Transferring my parent's contract into my wife's and my name was quite easy. First you submit a couple simple forms about 3-4 pages total in length along with a copy of the deed to be transferred and $475 to the title company. Included in these forms is a request for Disney to waive their ROFR. About two weeks later the title company sends some more lengthy and detailed forms to be signed and notarized by both parties. After you send these forms back to the title company, the transfer process is started and it will go through ROFR, but it is just a formality since money does not change hands. A few weeks later we received notice from the title company that the transfer had been approved and the deed was recorded in public records. Five weeks after it was recorded, I received my member number from DVC.

We are thrilled and very thankful for this membership. And... we received our membership card just in time for the Star Wars Half-Marathon on Sunday.
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Old 04-18-2017, 10:14 PM   #10
tink711
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Quote:
Originally Posted by jasonsack View Post
For those of you that were interested in a follow up with this thread...

The process took about 3.5 months from start to finish, but today I received a digital copy of my DVC membership card.

Just so you know... Transferring my parent's contract into my wife's and my name was quite easy. First you submit a couple simple forms about 3-4 pages total in length along with a copy of the deed to be transferred and $475 to the title company. Included in these forms is a request for Disney to waive their ROFR. About two weeks later the title company sends some more lengthy and detailed forms to be signed and notarized by both parties. After you send these forms back to the title company, the transfer process is started and it will go through ROFR, but it is just a formality since money does not change hands. A few weeks later we received notice from the title company that the transfer had been approved and the deed was recorded in public records. Five weeks after it was recorded, I received my member number from DVC.

We are thrilled and very thankful for this membership. And... we received our membership card just in time for the Star Wars Half-Marathon on Sunday.
Great news!
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