Children Added to Deed

[Patrick Junior Member Find all posts View Profile Close Patrick]

I have been a BG owner for many years. My two children are now grown and I am contemplating adding them to the deed. Can some of you add your expertise on the pros and cons of adding a child(ren) to the deed?

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

I'd make darn sure they want your timeshares before adding them to your deed. In the event you can't pay your MF's while your alive (illness, financial meltdown or whatever), they'll be on the hook for any fee's associated with the timeshares. If they're name is already on the title, when you die, they won't have a choice about if they want the timeshare or not. It will be their's and all the obligations that go along with it will be theirs.

Things change over time. Today they might think they want your timeshares but, when they see the bills associated with those timeshares they might think twice. If their names already on the title, they're stuck with it and they'll be stuck with any problems getting rid of it as well.

Personally, I'd advise against it.

[dbwill Member Find all posts View Profile Close dbwill]

We put the deed in our trust, which we controll and will as long as we have the mental capacity

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Do not do it. They may not want the thing so why tie them up in something that they will get stuck paying for ?

[dbwill Member Find all posts View Profile Close dbwill]

I may have misunderstood but the children s names are not on the deed nor will they be unless they decide to transfer to themselves after our deaths.

Is there a difference between us disposing of the TS and the trustee doing it?

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

If you are talking about adding children to your Bluegreen Points ownership, that is a very easy thing to do. Just as it is an easy thing to do to remove them from the ownership. It's a $250 fee to add and delete names.

People on this thread bring up some good points about title to a timeshare. If you add them onto your ownership, they are part owner and therefore own the obligations should you fail to make your payments.

Today, at least, all Bluegreen points packages have some value. So, it's not hard to give it away. I pretty much guarantee that today, if you decided to give away your Bluegreen points that someone on this message board (including me) would pay the closing costs to take it off your hands.

There are some good benefits of including your children on your ownership. First, they can book reservations if you allow them to do so. More importantly, they can book their own bonus time which is a very nice feature to have.

It's up to you, but I personally have no problems putting my children's name on my ownerships when they become adults.

[VA_Traveller Senior Member Find all posts View Profile Close VA_Traveller]

Since its a deeded property, can it be willed to family members? If BG is around that long?

[crwisconsin Senior Member Find all posts View Profile Close crwisconsin]

Since its a deeded property, can it be willed to family members? If BG is around that long?

It can be willed. Also, if corporate BG went belly-up or was bought out, the Vacation Club would still exist and continue.

Charles

[GeoPatSK Senior Member Find all posts View Profile Close GeoPatSK]

Rather than putting a an adult child's name on the deed, consider dropping you or your wife's name from your RCI or II membership and adding the child's name. This way there is no need (or cost) for a guest cert.