Change of name (due to marriage) and trust name on contract

[pixiedustforever]

Has anyone else changed their name on the contract (due to marriage) and/or put their ownership in the name of a family trust?

DH and I just had our trust papers drawn up. The attorney said we should have the DVC re-titled to show the family trust name. My maiden name is still on the DVC paperwork.

Just wondered what the cost might be and how long it will take.

Pixiedust to you!

Pixiedustforever

 

[Lew]

We placed our DVC memberships into our revocable trusts a few years ago. If I recall correctly, we were charged $75 per contract to make the changes.

DVC will require proper wording from your attorney. To ensure the name of your trust does not appear on your membership cards, reservations, etc, you might want to consider wording such as "John and Jane Doe, trustees of the John Doe revocable trust..."

Your attorney can best advise you on this.

 

[Doctor P]

We placed our DVC memberships into our revocable trusts a few years ago. If I recall correctly, we were charged $75 per contract to make the changes.

DVC will require proper wording from your attorney. To ensure the name of your trust does not appear on your membership cards, reservations, etc, you might want to consider wording such as "John and Jane Doe, trustees of the John Doe revocable trust..."

Your attorney can best advise you on this.

Though it shouldn't be a problem, they will actually have to waive ROFR as well.

 

[Lew]

Though it shouldn't be a problem, they will actually have to waive ROFR as well.

ROFR shouldn't be a consideration; it wasn't with us. It's just a change of wording on the deed...not a transfer of ownership.

 

[Doctor P]

ROFR shouldn't be a consideration; it wasn't with us. It's just a change of wording on the deed...not a transfer of ownership.

Not true. If it is going into trust it is generally considered a change of ownership (otherwise there is no sense to the trust!). Indeed, in most states the transaction requires a real estate closing (they show up all the time in our local real estate closings). I know that you have experience with this, but I suspect from previous posts on this topic that Disney did actually do a perfunctory waiver of ROFR (this has been reported by several people in the past). It may depend on your state and it may depend on the type of trust, but generally it is considered a sale.

 

[Dean]

My understanding that these are in between issues including gifting to a family member, removing a name for divorce or transferring to a trust. Technically they are change of ownership and go through ROFR which DVC gives automatically in this situation. So you are both right to a degree.