Adding to contract

[Mickeys gal 52]

Dies anyone know if you're able to add you've grown children to your contract. Sometimes I think it would be easier if I had them on l mine.

 

[CarolynFH]

Yes, it’s called a gratuitous transfer, and DVC will waive its ROFR. You can pay a title company to handle it for you (my family used LT Transfers, www.lttransfers.com) or you can do it yourself. This thread was started several years ago but is still a good source of information about the process: https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/.

 

[jrr4885]

Does anyone know the cost?
Is ROFR ever a problem? Do they always waive it?

 

[jrr4885]

Yes, it’s called a gratuitous transfer, and DVC will waive its ROFR. You can pay a title company to handle it for you (my family used LT Transfers, www.lttransfers.com) or you can do it yourself. This thread was started several years ago but is still a good source of information about the process: https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/.

Do they always waive rofr? What price did you pay with LT Transfers?

 

[CarolynFH]

Do they always waive rofr? What price did you pay with LT Transfers?

I’m unaware of them not waiving ROFR if it’s a transfer to a family member (I’m not sure if only certain family members qualify) and no money is being paid.

You need to check with LT Transfers for current prices. I think we paid $250 for their services, plus there were various other costs related to the deeds we were transferring (they weren’t DVC).

 

[brinkley07]

You may add them to the deed along with you. It's just a simple change that any title company can help you perform. I've seen various pricing stated by others, but anywhere from 250-500 on average for the paperwork. Just remember if you add them and they have money issues, divorce, etc they now have your DVC as an asset.

 

[drusba]

Do they always waive rofr? What price did you pay with LT Transfers?

Yes, DVD always waives ROFR for any gratuitous transfer, including one to persons unrelated to the transferring owner. An ROFR cannot apply to transfers considered to be gifts. Nevertheless, DVD always provides an official waiver of ROFR in such situations because that is a public filing in the applicable government file for recording of real estate transfers, which prevents title companies dealing with a later transfer of the interests from questioning whether that prior transfer was proper.

 

[kandlsutton]

We added our son last year after he turned 18. We used LT Transfers and the total cost was around $250. I emaled Disney for an updated form (referenced in post 2 above), but was advised that it is no longer required. One submission of forms to Disney by LT Transfers and it took around 6 weeks last summer for the contract to be retitled and our had access to the account. Note that all existing owners on the deed are required to have signature notarized.

 

[cindy17]

You may add them to the deed along with you. It's just a simple change that any title company can help you perform. I've seen various pricing stated by others, but anywhere from 250-500 on average for the paperwork. Just remember if you add them and they have money issues, divorce, etc they now have your DVC as an asset.

We’re in the middle of adding my son onto our deed and it’s $200 using TRCS (karina Ottinger) who I learned about on these boards (trcsinc.com)