|09-16-2012, 03:09 PM||#1|
Join Date: Mar 2004
Location: Upstate New York
Adding a Name on Existing Contract
I've had so much helpful information provided to me over the years that I thought I would pass along my experience of adding a name to my existing contract.
I have a 56 point VWL contract with myeslf, DH, & DM as members. I would like to add my DB to the contract so that I can get him a DVC annual pass (now premium annual pass, Thanks Claire) at the discounted rate.
Note: No dues or monies are owed for this property.
#1) I contacted DVC by phone (7/20) and informed them that I would like to add DM name to my contract. They sent me a transfer request (7/23). I also confirmed that because we were adding a name my existing ressie would be safe.
#2) Faxed back the completed transfer request (7/24), they needed names and addresses of current members, contract # and legal description of property. (ie., 0.1392% interest in unit 7A of Disney's Villas at Wilderness Lodge) As well as how the names should appear on the new deed. I also needed signatures of DH & DM as they are on the current contract.
#3) Visited the Orange County Comptroller's web-site and printed out my current contract and a few others to get a feel for what is expected on the deed. Because I had just purchased this contract 2 years ago and had a title search done then, I didn't feel the need to pay any additional monies to have another title search done and I would re-write the deed myself.
#4) Received the Waiver of Right of First Refusal from DVC (7/26). Also got a Change Request form to complete and send in later...
#5) I created a new Warranty Deed, modeled after my existing deed updating the names and addresses exactly as they appeared on the Right of First Refusal (#4), which came from the transfer request (#2)... must be consistent. Had this notarized and witnessed at no cost in our town clerks office. I updated the price paid to $10 for the lunch my brother bought for me!
#6) Mailed in the following to OCC along with a check (8/13):
Warantee Deed - $18.50 2 pages
Waiver - $18.50 2 pages
Check is for $37.70, the additional $0.70 was for < $100 deed document fee.
#7) Waited... and discovered I didn't pay for the additional names... oops! Misunderstood that part.
On the Waiver there were 8 names... DVC then me, DH & DM as the Transferor... then me, DH, DM & DB as the Transferee. So that was an additional $4.
On the Deed there were 7 names... me, DH & DM... then me, DH, DM & DB. So an additional $3.
Re-mailed (8/26) everything with an additional $7 (OCC returned my $37.70 check). I also needed to send them a Documentary Stamp Tax Explanation Form... as to why the property was < $100.
#8) Received all the original filed paperwork back from OCC (8/30) with the necessary document stamps. I was checking daily the OCC web-site so I had an idea that it was coming in the mail.
#9) Mailed the following to DVC (9/10):
Warranty Deed - copy
Waiver - copy
Change of request form (from #4) - original
with signatures, addresses, phone #'s and copies of drivers license for all 4 of us.
I believe at this point we would also have to mail a check for any outstanding dues or balances owed on the contract.
#10) Wait for our new membership cards and prepare for our November trip!
Overall the process was pretty painless... it would have been much faster if my DM & DB didn't live 3 hours away. But folks at both DVC and OCC were super helpful. (Even though I didnt "get" the pay more for more then 4 names on a document... even if they were the same names repeated twice. )
So all in all the cost was under $50 to add a name and it only took 2 months. the things we do for our baby brothers....
DH Me Kenny Elliott Kyle (Oops, Kylee) Edgar
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