Add Daughter as Owner on Deed

[CSpork]

My wife and I purchased direct at BLT back in 2009. We are looking at the best way to add our daughter to the contract to ease a transition later in Life. I know we can add her as an associate now and that will allow her to do the "basics". However, it will not allow her take advantage of membership as a "Blue Card", so looking at adding her to the Deed. Since we purchased direct, will she be able to take advantage of all benefits or will she fall under the new "Rules"?
Any Idea how much it will cost to add her to the Deed?
Thanks much!

 

[erionm]

If you add her to the existing deed, she will be entitled to the same benefits you currently get. The key is it has to be a gratuitous (free) transfer.

You can do the do and file the paperwork yourself for relatively little money (less than $50):
https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/
Or you can use a 3rd party firm like LT Transfers and their fees start at $150.

The firm recommended by DVC will charge $400 or more to do and file the paperwork.

 

[Sandisw]

I did this last year and did use the Disney one which cost me $475. But because I was buying direct with my adult kids, this contract needed to be changed first and they accomplished it in 2 weeks..

However, as mentioned, much less expensive ways to accomplish it. Just be aware that right now things are taking longer to get it all done.

 

[drusba]

As to any method of the above chosen, be sure to follow directions carefully. The process actually involves creating a new deed under which the two of you transfer via deed to both of you and your daughter. critical is that your names from the original deed must be the same on the new deed.

Your current deed likely reads that it is issued to the two of you as "husband and wife," which under Florida law creates "tenancy by the entirety" which applies only to married couples. Adding your daughter prevents that arrangement on the deed and instead the new deed should be issued to the three names as "joint tenants with right of survivorship" That language assures that if one owner dies, the remaining living owners retain the property as joint tenants with right of survivorship. It is only after the last named owner dies that the property would be subject to a probate proceeding.

 

[Disneypapa]

I added my son in 2011, following the death of my spouse. Do not recall who or how I did it, but it was an easy process to accomplish. Ours is the JTWROS.

 

[matheke]

If you add her to the existing deed, she will be entitled to the same benefits you currently get. The key is it has to be a gratuitous (free) transfer.

You can do the do and file the paperwork yourself for relatively little money (less than $50):
https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/
Or you can use a 3rd party firm like LT Transfers and their fees start at $150.

The firm recommended by DVC will charge $400 or more to do and file the paperwork.

Thank you so much for posting this. I never got the deeds for our Animal Kingdom purchase in 2015. Thanks to this I was able to get copies from the County website.

 

[makthompson]

I thought that when you pass away it automatically goes to your children, at least that is what we were told when we made our first purchase in 2004. What is the benefit of doing it now? I have a 21yo DD and 17ys DS . Any advise?

 

[Dean]

I've used LT transfers several times and had many other positive reports about them in transferring timeshares. They don't do escrow but that's not needed here. Their fee is plus other direct expenses, so around $200 total per contract. They do not do package deals if there are multiple contracts.

 

[HHISand]

I thought that when you pass away it automatically goes to your children, at least that is what we were told when we made our first purchase in 2004. What is the benefit of doing it now? I have a 21yo DD and 17ys DS . Any advise?

No, it doesn't happen automatically. If you do nothing, your children will have to go through a probate process even if you leave it to them in your Will. They could still get it, but it is messier. If your deed is for one of the locations in Disney World in Florida, that used to mean opening a separate probate proceeding in Florida if you lived in another state (that was true when I lived in Georgia but I moved from there almost 20 years ago so you should check to see if this is still true). Even if you don't have to open another probate proceeding in Florida, it would still go through probate in the state you lived in. Putting them on the deed with a joint title with right of survivorship avoids that process but also makes it where they have all the rights of ownership, not just the blue card. That means they can book reservations and if they get married and divorced, their ex-spouse could seek their ownership interest in the divorce proceedings. So, you should be sure you want to do this. If you do, I would recommend waiting until DS is 18 which is probably the age at which you could add him to the deed as well as your daughter.

 

[nancyhammel]

I've used LT transfers several times and had many other positive reports about them in transferring timeshares. They don't do escrow but that's not needed here. Their fee is plus other direct expenses, so around $200 total per contract. They do not do package deals if there are multiple contracts.

I need to email them to see if they do business in Colorado. Do you have an email for them or a phone number?

 

[Sandisw]

https://www.lttransfers.com/

 

[Dean]

I need to email them to see if they do business in Colorado. Do you have an email for them or a phone number?

I'm almost certain they do and CO is not one of the states where they list a higher fee. They even are able to do so in SC which is a state that requires filings by an attorney so I assume they have a liaison there.