No way to gift membership?

[Robbie Cottam]

Not asking them for advice, asking them for permission.

Mmm, like asking town for permission to sell your house?

what has been suggested here is a pretty typical estate planning tool.

 

[AnnaKristoff2013]

Mmm, like asking town for permission to sell your house?

what has been suggested here is a pretty typical estate planning tool.

Does your house come with Blue Card benefits?

 

[Robbie Cottam]

Does your house come with Blue Card benefits?

It really has nothing to do with the blue card, but

Here you go:

https://disneyvacationclub.disney.go.com/faq/contracts-deeds/change-name

To highlight, the question does not ask about family members, just adding or removing names on a deed.


Q: What is the process required to remove or add a name on my Disney Vacation Club deed, or change the title on the deed to my trust?

 

[Matty B13]

Also, I don't think DVC has the right to restrict a person who has a deed from adding someone to that deed, only the owner has that right. DVC might not like it, but I don't think they could do anything about it. And if an owner wants to be taken off of a deed, they can't stop that either. DVC would have to catch the owners with some proof of some money changing hands to deny the owners the change in the deed.

 

[Robbie Cottam]

Also, I don't think DVC has the right to restrict a person who has a deed from adding someone to that deed, only the owner has that right. DVC might not like it, but I don't think they could do anything about it. And if an owner wants to be taken off of a deed, they can't stop that either. DVC would have to catch the owners with some proof of some money changing hands to deny the owners the change in the deed.

All good points.....
Trying to get around ROFR by adding someone to a deed and then removing the original owner would require a level of trust that you simply aren't going to find in a commercial transaction.

 

[Sandisw]

Does your house come with Blue Card benefits?

I don't believe they can stop someone from adding another person as an owner to the deed. Once added, they have the rights to the membership. Now, there is certainly nothing to prevent DVD from saying a change in ownership to the membership, unless immedicate family members...and maybe this is the rule...voids the memberships membership extras requirements if they are not direct points...meaning contracts that were grandfatahered in to benefits.

 

[Robbie Cottam]

I don't believe they can stop someone from adding another person as an owner to the deed. Once added, they have the rights to the membership. Now, there is certainly nothing to prevent DVD from saying a change in ownership to the membership, unless immedicate family members...and maybe this is the rule...voids the memberships membership extras requirements if they are not direct points...meaning contracts that were grandfatahered in to benefits.

I think that Disney would be opening itself to more bad press.

Disney just had to disclose to the SEC that their bad business (cough) has had an impact on profits.

I would argue that seasoning the new owner / member, makes it really hard for Disney to remove privileges simply because the first owner was removed.

I honestly believe we are making a mountain here.

Disney publishes how to add and remove a member.

 

[Sandisw]

I think that Disney would be opening itself to more bad press.

Disney just had to disclose to the SEC that their bad business (cough) has had an impact on profits.

I would argue that seasoning the new owner / member, makes it really hard for Disney to remove privileges simply because the first owner was removed.

I honestly believe we are making a mountain here.

Disney publishes how to add and remove a member.

No more bad press than they received when they changed the membership extras program. My point is that even if a person is added, they don't have to allow that membership to retain membership extras if the contract was a grandfathered contract....unless it is immediate family.

No issue with adding or removing people from the deed...its just what is the process for a gratitutios transfer to non family members and are there any differences than with family members. Obviously, LT Transfers who does a lot of this says there is which is why one needs to talk to MA to find out.

 

[KAT4DISNEY]

Wait a second and go back to LT transfers as I don't think whomever you spoke to there is providing correct info.

It's a gratuitous transfer and I've never heard that there has to be a familial relationship to do that. If so they'd require you to provide the relationship and proof of the relationship. They do neither of those. Review this thread which provides the ownership change document that DVC was using just a couple of months ago.
https://www.disboards.com/threads/s...uitous-transfer.3701707/page-19#post-65014323

I'd call and talk to someone else at LT Transfers or do it myself. The instructions are easy to find.

 

[AstroBlasters]

A couple of things to consult with your tax advisor about:

1) If the asset is received via gift, instead of inherited, then it does not receive a cost basis step up at death. This could create a larger taxable event if the receiver of the gift sells.

2) The gift needs to be reported on someone’s tax returns (possible gift or generation skipping tax) if the gift is greater than $17,000 from a single transferor in 2023. Likely no taxes will be owed, but it needs to be reported.

 

[sethschroeder]

So say my Godmother adds me to the deed, are we able to go through the process to remove her after? Or just keep her on it?

Honestly if you are going to actively remove her then I would check the laws and check with an attorney/tax person as it could be viewed legally then as a gift or sale that you are trying to hide.

I would just have you added with right of survivorship. Which means when she passes you take ownership as the survivor. Check with an attorney/tax person but believe this will then also avoid any tax issues regarding a gift or what not as well.

 

[KAT4DISNEY]

They waive the ROFR process when it is between family members...but when not, you have to go through the full process.. I don't know for sure how this might play out, but worst case is that they may deem it not a valid transaction and not allow it? But, honestly, not really sure. I'd give a call to MA to get more details on how to handle.

Where are you getting this info from? I've never heard a gratuitous transfer is keyed to any relationship. It is more typically a relative as it's a little abnormal to gift something so large to a stranger, although that's not the case here, but I've never seen that there's any difference in the process.

IRS doesn't care either - just about the value of the gift amount to determine if a gift tax return is necessary or if it falls under the annual exclusion.

 

[AstroBlasters]

Where are you getting this info from? I've never heard a gratuitous transfer is keyed to any relationship. It is more typically a relative as it's a little abnormal to gift something so large to a stranger, although that's not the case here, but I've never seen that there's any difference in the process.

IRS doesn't care either - just about the value of the gift amount to determine if a gift tax return is necessary or if it falls under the annual exclusion.

You know who else would care… Medicaid if the assets are transferred within a certain number of years before passing….

 

[Sandisw]

Where are you getting this info from? I've never heard a gratuitous transfer is keyed to any relationship. It is more typically a relative as it's a little abnormal to gift something so large to a stranger, although that's not the case here, but I've never seen that there's any difference in the process.

IRS doesn't care either - just about the value of the gift amount to determine if a gift tax return is necessary or if it falls under the annual exclusion.

What I was told by MA when we were deciding whether to add the kids to all of our contracts, or just some of them...we added them only to the ones in our Aug UY.

They said that if we were to transfer the other ones to them...meaning removing our names...and just giving them to them...they would waive ROFR because they were our children.

They said if there was no relationship, then we would have to go through the ROFR process...but, since these were our children, it would be waived. But its also why I mentioned that the OP should check with MA for updates.

 

[KAT4DISNEY]

You know who else would care… Medicaid if the assets are transferred within a certain number of years before passing….

Yeah but we're DVC boards. The rest they can figure out.

 

[KAT4DISNEY]

What I was told by MA when we were deciding whether to add the kids to all of our contracts, or just some of them...we added them only to the ones in our Aug UY.

They said that if we were to transfer the other ones to them...meaning removing our names...and just giving them to them...they would waive ROFR because they were our children.

They said if there was no relationship, then we would have to go through the ROFR process...but, since these were our children, it would be waived. But its also why I mentioned that the OP should check with MA for updates.

Yeah, I don't think that's the way it works. There is no place they ask that question on the forms required.

 

[Sandisw]

Yeah, I don't think that's the way it works. There is no place they ask that question on the forms required.

Maybe not and since I have never done a transfer, only added (which I did have to list), I can't speak to it directly, but only relying the info that I was given.

 

[Bearval]

DVD isn't going to step in and take it for $0 when this is a gift. They are not allowed to use ROFR as a way to get back contracts for free.

They waive the ROFR process when it is between family members...but when not, you have to go through the full process.. I don't know for sure how this might play out, but worst case is that they may deem it not a valid transaction and not allow it? But, honestly, not really sure. I'd give a call to MA to get more details on how to handle.

One way to avoid this, though, is to have your godmother add you as a co-owner to the deed for now, with joint tenancy with right of survivorship. If you are already an owner, it would give you a second membership. If you would be a new owner, then its not a big deal

Then, at some time in the near future, file for another deed transfer to remove her as a co-owner.

This is the best course of action, I don't believe you can be stopped from adding anyone to a deed.

 

[princesscinderella]

Wait a second and go back to LT transfers as I don't think whomever you spoke to there is providing correct info.

It's a gratuitous transfer and I've never heard that there has to be a familial relationship to do that. If so they'd require you to provide the relationship and proof of the relationship. They do neither of those. Review this thread which provides the ownership change document that DVC was using just a couple of months ago.
https://www.disboards.com/threads/s...uitous-transfer.3701707/page-19#post-65014323

I'd call and talk to someone else at LT Transfers or do it myself. The instructions are easy to find.

This, it doesn’t matter that they are not related, it just matters that you certify that no money has changed hand in the gratuitous transfer.