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Post by nickys on May 13, 2023 11:07:20 GMT -5
Can anyone explain what an Associate Member on your deed can do and what it means? And the difference between that and adding someone as a joint owner?
Are the risks mitigated in some way, and what should we be considering in our decision?
Thanks!
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Post by dmkedm on May 13, 2023 11:51:35 GMT -5
An associate member can talk to MS--make reservations, change reservations, etc. However, an associate member has no legal rights (can't sell the contract, for example, and it wouldn't be marital property in case of a divorce or inheritable property in case of (God forbid) death....associate members also do not qualify for m'ship perks. My DS has been an associate member on my membership since I first bought in in 2006 and it's handy having him able to make his own reservations when he goes to WDW w/out me (which happens rarely)....hope this helps.
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Post by tomandrobin on May 13, 2023 14:20:31 GMT -5
"Purchaser" or "Additional Purchaser"
A Purchaser or Additional Purchaser is a person who is named on the deed of the real estate interest. Purchasers are also referred to as Disney Vacation Club Members. The Primary Purchaser is the first person named on the deed. While a reservation confirmation is normally mailed to the Primary Purchaser, any Disney Vacation Club Member may request to receive the reservation confirmation. All Purchasers have equal ownership rights and all Purchasers receive Membership Cards.
Additionally, all financial information pertaining to the ownership interest, including Annual Dues Statements and Form 1098 (reporting mortgage interest), will be mailed to the Primary Purchaser. To designate a different Primary Purchaser to receive the financial information mailings, a request must be submitted in writing to Member Administration and must be signed by all Purchasers.
"Associate"
An Associate is a person named by the Purchaser or Purchasers who is only authorized to make reservations using the Disney Vacation Club Member's Home Resort Vacation Points. Associates do not receive Membership Cards and are not entitled to the benefits and privileges that are available to a Disney Vacation Club Member.
Unless authorized by the Member, Associates may not access financial information related to the Annual Dues and/or Loan pertaining to the Disney Vacation Club Member's real estate interest.
If you're a Member and you'd like to authorize Disney Vacation Club to discuss financial-related matters with an Associate on your account, please download and complete the Associate Member Financial Authorization Form. Completed forms should be faxed to (407) 938-4117, Disney Vacation Club, Attention: Member Accounting. Or, the completed form can be mailed to:
Disney Vacation Club
Attention: Member Accounting
1851 Community Drive
Lake Buena Vista, FL 32830
"Principal Contact"
The Principal Contact is the individual who will act on behalf of all Purchasers in case there is any disagreement among multiple Purchasers regarding the use of a real estate interest. The Principal Contact may be someone other than a Purchaser or Associate. A Principal Contact is not entitled to the benefits or privileges of Membership in the Disney Vacation Club unless he or she is also a Purchaser.
To designate a new Principal Contact, a request must be submitted in writing to Member Administration and must be signed by the current Principal Contact and all Purchasers.
In all disputes between or among Purchasers of a jointly-owned real estate interest, the Principal Contact's decision is final and will be binding upon all Purchasers and will be upheld by Disney Vacation Club Management Corp. unless Disney Vacation Club Management Corp. is required to comply with a binding court order or other binding legal process to the contrary.
"Corporate Member"
A "Corporate Member" is a corporation, LLC or partnership that purchases a real estate interest and is named on the deed.
"Officer"
An Officer is a person who has been authorized to execute the purchase documentation on behalf of a corporation, LLC or partnership that owns the real estate interest. An Officer is entitled to all benefits and privileges that are available to a Member and will receive a Membership Card. Officers may also access Annual Dues and/or Loan information and make payments on behalf of the Corporate Member.
"Affiliate"
An Affiliate is a person named by the Officer who is authorized to make reservations using the Corporate Member's Home Resort Vacation Points. All Affiliates must be an officer of the corporation, a member of the LLC or a partner of the partnership that owns the real estate interest. Affiliates are entitled to receive the benefits and privileges of a Member and are issued a Membership Card.
However, Affiliates may not access financial information related to the Annual Dues and/or Loan pertaining to the Corporate Member's real estate interest.
View / Pay Rights / Restrictions
Only Purchasers, Additional Purchasers and Officers may view or pay Annual Dues or Loan information. Affiliates and Associates are not privy to this information.
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Post by nickys on May 13, 2023 16:56:43 GMT -5
Thanks both of you. I’m assuming tomandrobin that those are some FAQs from the website somewhere, which I failed to find lol! I appreciate you posting them. |
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Post by tomandrobin on May 14, 2023 6:45:01 GMT -5
Thanks both of you. I’m assuming tomandrobin that those are some FAQs from the website somewhere, which I failed to find lol! I appreciate you posting them. Correct.... this is from the DVC website, direct from the source. |
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Post by Ludwig Von Chuck on May 15, 2023 6:50:13 GMT -5
Thanks both of you. I’m assuming tomandrobin that those are some FAQs from the website somewhere, which I failed to find lol! I appreciate you posting them. Correct.... this is from the DVC website, direct from the source. You didn't type it from memory. You're slipping  |
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