Add Son to contracts

[paults]

My wife passed away on Easter this year and we are now finally ready to continue with DVC. I am still the owner of my DVC and want to add my son to it. He does not want me too sell it. He is single and we go all the time. We want to add him now just in case something happens to me. I am 76 and you never know.
What is the best way to approach this?

 

[mort1331]

sorry to hear of your loss.
https://www.disboards.com/threads/s...act-gratuitous-transfer.3701707/post-65652885
here is a thread that helped me add a spouse,,,should be the same for adding a child. Now if your late wife was on the contract there might be another step to take her off, but a quick call to member services should help.

 

[sndral]

So sorry for your loss.
Here’s another thread which may be helpful. https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/
I’ve read of folks doing all of the paperwork themselves, & of others who used title companies such as LT transfers to handle the paperwork.

My wife passed away on Easter this year and we are now finally ready to continue with DVC. I am still the owner of my DVC and want to add my son to it. He does not want me too sell it. He is single and we go all the time. We want to add him now just in case something happens to me. I am 76 and you never know.
What is the best way to approach this?

Was your wife also an owner on your DVC contracts? If so & assuming you haven’t yet changed your DVC deed to reflect the loss of your wife, I agree w/ @mort1331 that this will likely be a two step process, first to remove the wife’s name & then to add the son’s, so a bit more complicated.
Assuming you held title w/ your wife as tenants by the entirety - which is how many married couples choose to hold real property - there’s no need to go through probate in Florida since the property automatically goes to the surviving spouse, it just requires paperwork to reflect the change.
BTW, to avoid Florida probate in the future the new deed w/ your son can be held as joint tenants w/ the right of survivorship so that your son will inherit automatically w/ no need for probate.

 

[CarolynFH]

Sincere condolences on the loss of your wife.

We added DD to our contracts last year, anticipating the same reason. We had LT Transfers (www.lttransfers.com) handle it. They’re very efficient and cost-effective (just over $500 for two contracts, including filing fees). I think they can probably remove your wife and add your son at the same time. Or, as per previous posts, you can do it yourself, or you can have one of the title companies frequently mentioned on these forums take care of it.

 

[Sandisw]

Just adding condolences.

 

[paults]

thanks for all your condolences