Adding a name to the deed?

[nightshaderose]

Does anyone know what the procedure is for adding a full-owner to a membership? The loan's been paid off already, and the person being added has been an associate on this membership for the entire time.


Thanks,
Elizabeth

 

[Dean]

Does anyone know what the procedure is for adding a full-owner to a membership? The loan's been paid off already, and the person being added has been an associate on this membership for the entire time.


Thanks,
Elizabeth

If it's paid off, it's really pretty simple. Here's a listing of the steps.

1. Contact DVC and get the transfer package. I'd do it by email so they'll send you the forms by email.
2. Compete the form for transfer and mail it back.
3. They'll send you a ROFR waiver automatically in this situation if there's no money changing hands.
4. You'll then need a deed and to record that and the ROFR with the country, easy for Orange County.
5. Once recorded, there will be another form to complete the transfer (in the packet referred to above) and a copy of the recorded deed that need to be sent to DVC.

Total Cost under $40 if you do it yourself and use a quit claim deed. The only real issue with doing so is that some have said that having a quit claim deed in the chain may make it difficult to get title insurance should you sell later. But frankly, title insurance is really a waste of money on most timeshares and esp DVC. It offers little additional protection at a very high cost comparatively.

 

[nightshaderose]

Thanks so much! This is going to be far less complex than I feared.

Elizabeth

 

[Dean]

Thanks so much! This is going to be far less complex than I feared.

Elizabeth

People try to make it complicated but it's really not. The big issue is getting a deed and it's really not that much of one either. Can get them at places like Staples or several off line options and specific to FL. There's also a FL specific Word Template floating around the internet. If one is uncomfortable with the process. I know there are at least 2 closing companies that will do the work for under $100, including deed prep, though I think both would charge extra for the ROFR, which is the easiest part anyway.