should i put adult children on deed

bfdretired · #1 (**permalink**) 07-22-2008, 05:57 PM

I have been advised to put my children on my B/G deed. that way they can take advantage of some of the perks. MY fear has been controlling the point usage. We have 20,000 pts and being retired we use them. I would like to help my boys as much as possible but dont want to come up short. If you have any thoughts please advise. thanks john

Sister Syl · #2 (**permalink**) 07-22-2008, 07:23 PM

When we bought more points in March we added our two grown children on our deed so they could use bonus time. It has worked great. Next week our son and his family will be in Charleston for four nights. They will be able to use bonus nights and we don't have to be there to check them in.

It has worked for our family.
Sylvia

swirg53 · #3 (**permalink**) 07-23-2008, 12:40 AM

For an owner update with "kids" on the deed.....do all you have to be present or just the mom and dad?

GeoPatSK · #4 (**permalink**) 07-23-2008, 05:47 AM

As we purchased more TS we included our children on the deeds. I also removed my name from RCI, and listed my oldest daughter's. So now RCI is in my wife and daughter’s name. This way any one of us can use the resorts, qualify for owner amenities, and exchange with out purchasing guest certs.

funtime2 · #5 (**permalink**) 07-23-2008, 05:57 AM

Remember that ownership would also carry over if there should be a divorce.

common property that is aquired during marriage.

Sister Syl · #6 (**permalink**) 07-23-2008, 09:12 AM

Quote:

Originally Posted by swirg53

For an owner update with "kids" on the deed.....do all you have to be present or just the mom and dad?

We didn't have our kids with us but if I remember correctly, we gave them their social security numbers and information on them and then they gave us forms to take with us and get them to sign and have notarized and send back to them. Be sure and tell them before they write up your contract for new points that you want to do this. If you don't upgrade points you can add them for a fee. I think it now is $125. You would probably have to call and get them to mail you the forms if you do it that way.

Hope this helps.
Sylvia

spectacularone · #7 (**permalink**) 07-23-2008, 03:16 PM

We did the opposite and put my mom on the deed. That way her and dad can use the bonus time and other benefits. My parents aren't the type to call up and "steal" my points although I guess mom could technically do that.

We also wanted to have it set up in case something happens to us, she'd automatically inherit it. We have our house held in a similar way with her being the pay on death beneficiary.

1950bing · #8 (**permalink**) 07-23-2008, 04:39 PM

I would be very very careful about adding names to the deed. First of all, they may not want to be on the deed because of all problems t/s can create. ( increasing costs ) They are not for everyone.
When it is no longer wanted they will also get stuck in trying to get rid of the thing. Do you really want to do that to your kids?

Linda74 · #9 (**permalink**) 07-24-2008, 08:54 AM

We put our grown kids on our Mayan Palace deed. Interestingly, MP told us the kids had to be with us for an owners update but then our son was able to attend one without us....Go figure.
Our kids enjoy using our timeshares when we offer. We are in RCI points and can ususally give them each a week per year. We still control the account and they would never book vacations without our ok. They are also on the RCI membership so we don't have to pay for guest certificates. They aren't on our Florida or Australia units.

Mok · #10 (**permalink**) 07-29-2008, 02:18 PM

My parents put both my sister and I on their deed so we could use the bonus time whenever we had a chance. My wife and our kids have taken advantage of that only one time since doing so, but I'd like to think we could do that more in the future.

Basically they just required a form filled out, and then faxed to them. I can't say I've ever been to an owners meeting. I was asked to go to the one when we stayed with my family, but time didn't dictate that it actually happened, we just flat ran out of time for it.

I have /no/ problems getting "stuck" with the program once my parents can no longer take care of it. They've made the investment, and the yearly maintenance fees are perfectly fine to keep up for my sisters family and mine.

Another advantage is, my fathers sister's (my aunt) family also has BG and we take a yearly trip /somewhere/ (this year is Branson) and it is MUCH easier getting that large block of rooms (last year was 6 I think in total, this year I think is 9) when every room is someone on the account (deeded).