question for the experts

DVCindyf

Earning My Ears
Joined
Jan 4, 2018
We are just back from another wonderful DVC vacation at OKW resort!
We have owned 150 points since 2000. Our daughter is now 23 and considering purchasing
some points. Here is our question: Does it make more sense for her to buy her own contract
or does it make more sense to buy points to add to our contract and add her on as an owner to our current contract? Any thoughts, experience, etc will be appreciated!
Thanks so much!
 
Last edited:
We are just back from another wonderful DVC vacation at OKW resort!
We have owned 150 points since 2000. Our daughter is now 23 and considering purchasing
some points. Here is our question: Does it make more sense for her to buy her own contract
or does it make more sense to buy points to add to our contract and add her on as an owner to our current contract? Any thoughts, experience, etc will be appreciated!
Thanks so much!
If she gets her own contract, she will not qualify for DVC member benefits unless she purchases direct. However, in order to add to your contract and add her as an owner, you will want to add her first and then purchase the additional points. To do otherwise would mean having to submit paperwork on two different contracts to have the deeds redone.

Some things to consider:
  • OKW expires in 2042. If you were to purchase resale points at another resort with a later expiration, those points would not qualify for member benefits when the OKW contract expires.
  • A 2042 expiration date doesn't give a 23 year-old a lot of time to enjoy her purchase.
  • Some OKW owners extended their contracts to 2057 when the offer was made but many did not. There's a huge question mark as to what will happen in the 15 years between those two expirations.
  • OKW points which are purchased direct now will expire in 2057.
  • If she gets her own contract, she can choose a UY and resort that suits her preferences.
  • If you add on to your membership and change the ownership to include her, she has all the rights and responsibilities that go along with owning ALL of the points in that membership. She pays all the dues if you cannot. You pay the dues on the contract she bought if she doesn't. She can use your points if she desires.
  • If you have other children, how would they feel about her being "given" ownership of your DVC? OTOH, if she is an only child, adding her to your deed now will circumvent going to probate upon your demise should you predecease the contract expiration.
 
One additional concern to adding her to your contract... If she encounters financial difficulty, and declares personal bankruptcy, your contract (now with her name on it as a co-owner) becomes part of her assets, subject to sale.

In this case, I'd have her purchase her own contract directly. Perhaps align her use year and resort with yours, in order to collectively pool your points. You could do a once per year transfer of the current points into her account (or visa-versa) in order to make a reservation needing a larger number of points than either of you individually have.
 
We are just back from another wonderful DVC vacation at OKW resort!
We have owned 150 points since 2000. Our daughter is now 23 and considering purchasing
some points. Here is our question: Does it make more sense for her to buy her own contract
or does it make more sense to buy points to add to our contract and add her on as an owner to our current contract? Any thoughts, experience, etc will be appreciated!
Thanks so much!

In my experience here at The Timeshare Store, Inc.® is that in the future you will wish she had her own contract. That way you can do whatever you want with your contract and she can do whatever she wants with her contract. Of course, you may think you will never sell or she will never sell but when that time comes (5, 10 or 20 years from now) it will be easier if everyone has their own deed.
 


We are just back from another wonderful DVC vacation at OKW resort!
We have owned 150 points since 2000. Our daughter is now 23 and considering purchasing
some points. Here is our question: Does it make more sense for her to buy her own contract
or does it make more sense to buy points to add to our contract and add her on as an owner to our current contract? Any thoughts, experience, etc will be appreciated!
Thanks so much!
I'm not sure what you're planning to add but one thing that might be the best for many would be to add her to your current contract and then either she or you (or both) buy a completely separate contract, maybe a different UY. In part it depends on the volume. I always want to caution about the risks of having a young adult on the deed since any divorce or financial issues could affect the contract. And for those looking at college, it is an asset that should be listed on FAFSA. One of my considerations in making this recommendation was the relatively small size of the current contract.
 

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