Changing ownership of DVC

[katied]

Our DVC ownership is owned in just my name (from pre-marriage). Is it possible to add DH to it to make it joint ownership? RIght now, DH is listed as an associate on it, but I would like to change to joint ownership if possible. Anyone have experience with this, or is it best to just call MS and ask?

 

[disneynutz]

Our DVC ownership is owned in just my name (from pre-marriage). Is it possible to add DH to it to make it joint ownership? RIght now, DH is listed as an associate on it, but I would like to change to joint ownership if possible. Anyone have experience with this, or is it best to just call MS and ask?

I would suggest that you call MS Administration. During the prompts they mention a "change of ownership".

Bill

 

[katied]

Thanks! I just called. It can be done, for a fee. $300 for the first property and $100 for each additional. Since it's deeded property, they need to change the title documents with the county, perform a title search and all those other things and keep title companies making money (and since this is Disney's own title company, keeping Disney making money). So I'll find out how badly DH wants to be on the title and if it's worth $500 to him.

 

[Dean]

You can do it yourself for under $50 for a single contract if you're willing to do a little work on your own. We did 4 contracts a year and a half ago for under $75.

 

[js]

What does it mean that your husband is listed as an Associate on the contract. Does that just mean you added him to your account so he can make changes to an existing reservation or make a reservation?

Dean, If I have one current contract for 300 points (and now thinking about getting another 100 with same U/Y) would it be best to keep as two seperate contracts if I eventually want to change names?
Is it not possible to evenally split the 300 points?
If I added my 100 points to the 300 and had a total of 400, could I split the contract 200 and 200 and put one child on each 200 (I have two children).
I guess I should have thought about this more when we purchased our points resale.
Thank you for any help.

 

[Cap]

Sorry - No. You can't split an existing contract in to smaller pieces. Only Disney can do that if they buy a contract back.

If you had purchased two 150 point contracts to total 300 points, then you could sell off one 150 point contract and keep the other one.

That is one of the reasons that small contracts sell -- in resale -- for a premium price / point over large contracts.

 

[js]

Sorry - No. You can't split an existing contract in to smaller pieces. Only Disney can do that if they buy a contract back.

If you had purchased two 150 point contracts to total 300 points, then you could sell off one 150 point contract and keep the other one.

That is one of the reasons that small contracts sell -- in resale -- for a premium price / point over large contracts.

Thank you.
If I purchase the 100 with same U/Y, can the 100 with same U/Y just be input with the existing 300 and be a 400 point contract?
Thank you.

 

[RobDoc]

Thank you.
If I purchase the 100 with same U/Y, can the 100 with same U/Y just be input with the existing 300 and be a 400 point contract?
Thank you.

Yes, if both contracts are purchased directly thru Disney it will appear as a seamless 400 point contract - but technically will still be two contracts which may be sold separately.

If the second contract (also with the same Use Year) is purchased via resale, it will need to be titled exactly the same and can be combined with the first - I'd let MS know of the purchase so they can combine both under one membership.

The contracts will appear with different suffixes xxx.001, xxx.002, xxx.003 but can easily be used to make reservations as if from one contract.

Enjoy!

 

[Dean]

What does it mean that your husband is listed as an Associate on the contract. Does that just mean you added him to your account so he can make changes to an existing reservation or make a reservation?

That is exactly what it means.

Thank you.
If I purchase the 100 with same U/Y, can the 100 with same U/Y just be input with the existing 300 and be a 400 point contract?
Thank you.

Yes assuming they are titled the same way exactly with the same UY as you stipulate. In most cases if you do an add on through DVC, this is the only option you'll have (same UY and title names). You can later change one or both or sell either one if you want. If you title them differently in any way either now or in the future, they will become a totally separate contract and the only way to combine points would be things like transfers or linking separate reservations.

 

[js]

Thank you Webmaster Doc and Dean.
My next add on contract for approximately 100 will be same U/Y and for same resort and definately through resale.
So, once I purchase:
The title will be the same as my current contract (with dh and my name).
It really will be two contracts but will "seem" like one when making bookings.
I should contact MS to inform them of this?
If I ever needed to sell (oh, I don't even like typing that), it really would be two separate contracts, one for 300 and one for 100.
When I want the kids added, I can do the legwork myself for much cheaper.
Does this all sound correct?
Thank you all very much.

 

[disneynutz]

If all of your contracts are titled the same, with the same UY, then your first contracted will be numbered 123456.000. Your second contract will be numbered 123456.001. The next one that you will buy before the end of 2010 will be 123456.002.

Bill

 

[js]

If all of your contracts are titled the same, with the same UY, then your first contracted will be numbered 123456.000. Your second contract will be numbered 123456.001. The next one that you will buy before the end of 2010 will be 123456.002.

Bill

Thank you very much. I appreciate how you explained to me

 

[Dean]

Thank you Webmaster Doc and Dean.
My next add on contract for approximately 100 will be same U/Y and for same resort and definately through resale.
So, once I purchase:
The title will be the same as my current contract (with dh and my name).
It really will be two contracts but will "seem" like one when making bookings.
I should contact MS to inform them of this?
If I ever needed to sell (oh, I don't even like typing that), it really would be two separate contracts, one for 300 and one for 100.
When I want the kids added, I can do the legwork myself for much cheaper.
Does this all sound correct?
Thank you all very much.

I think you've summarized it all quite nicely. The only thing I'd add for resale is to put your membership info including the master contract number on the contract, make your broker aware and make sure they include your info on the transfer form when the deed is sent in. IF they fail to link the two contracts, DVC won't fix it later. I'd also contact DVC independently if I were you to let them know you wanted them linked.

 

[js]

I think you've summarized it all quite nicely. The only thing I'd add for resale is to put your membership info including the master contract number on the contract, make your broker aware and make sure they include your info on the transfer form when the deed is sent in. IF they fail to link the two contracts, DVC won't fix it later. I'd also contact DVC independently if I were you to let them know you wanted them linked.

Thank you. I will print out your information above.
Sorry, can I ask a few more questions so I know what I need done:

When I make the offer and it is accepted, I inform the broker that I also have another contract and want it "linked".
I give the broker my existing contract number?
I wait for Disney to see about ROFR. I wonder if having an existing contract makes a difference? Anyway,
When I get my paperwork from the broker, I must make sure that my master contract is listed on the paperwork/transfer form for the deed.
When do I contact MS about all this? After I send in the paperwork back to my broker?
Thank you VERY VERY much.

 

[Dean]

Thank you. I will print out your information above.
Sorry, can I ask a few more questions so I know what I need done:

When I make the offer and it is accepted, I inform the broker that I also have another contract and want it "linked".
I give the broker my existing contract number?
I wait for Disney to see about ROFR. I wonder if having an existing contract makes a difference? Anyway,
When I get my paperwork from the broker, I must make sure that my master contract is listed on the paperwork/transfer form for the deed.
When do I contact MS about all this? After I send in the paperwork back to my broker?
Thank you VERY VERY much.

If you buy from one of those that normally deal with DVC just tell them and they will do what needs to be done. Do remind them at critical steps such as for ROFR and at closing. I'd suggest you contact DVC personally after ROFR has cleared and again just before closing.

 

[js]

If you buy from one of those that normally deal with DVC just tell them and they will do what needs to be done. Do remind them at critical steps such as for ROFR and at closing. I'd suggest you contact DVC personally after ROFR has cleared and again just before closing.

Perfect! Thank you very much!

 

[katied]

You can do it yourself for under $50 for a single contract if you're willing to do a little work on your own. We did 4 contracts a year and a half ago for under $75.

Do you mind telling me how I would get started to do this myself? I'm happy to, and $500 is a lot of money to spend, so worth some time on my own.

Thank you!

 

[Dean]

Do you mind telling me how I would get started to do this myself? I'm happy to, and $500 is a lot of money to spend, so worth some time on my own.

Thank you!

Email me directly and I'll give you some info I've provided a couple of others including a FL specific template for a quit claim deed. Since the info I have directly from DVC is over a year old, you should also email and ask they email their current package back to you in case there have been any changes.

It's pretty simple as long as there's no loan and all existing parties are cooperative.

Fill out their transfer request form putting the new names including any old ones that are still be to be listed and send it to member admin.

Once you have ROFR, send that along with the new deed to Orange County (for WDW) including the correct fees.

Once you get the recorded deed back, send a copy along with the final transfer form to DVC. Last I heard they were contemplating a transfer fee (used to have one before), the paperwork from them should address it. You can even print the deed off the OC website saving the time waiting for it to come back which can be substantial.

One caveat is to make sure there are 2 witnesses on the deed. While the Notary can also act as a witness, the act of notarizing does not count as a witness. IF there are multiple contracts in question, there are a couple of other caveat's to saving a few dollars there as well.

 

[debdisneycruiser]

You can do it yourself for under $50 for a single contract if you're willing to do a little work on your own. We did 4 contracts a year and a half ago for under $75.

Dean....I am wanting to add my daughter as joint owner with myself and spouse. You mentioned that with a little work I could do it cheaper than going through Disney....could you state the details of how...what steps to take

 

[Dean]

Dean....I am wanting to add my daughter as joint owner with myself and spouse. You mentioned that with a little work I could do it cheaper than going through Disney....could you state the details of how...what steps to take

You should be able to do a single contract for around $30. Before you do anything, contact DVC and ask them to email you the packet of info including instructions and forms. Here's a summary of how to approach it.

Complete the "Request to transfer form" and send it to DVC Member Admin
Once you have the ROFR in hand, send that and the completed deed to the county along with the applicable fee. You can do the deed as a quit claim deed if you want or even a warranty deed on your own fairly easily.
Once you have a copy of the recorded deed, complete the transfer form and send that along with the deed copy back to member admin.

All of this assumes no loan, if there's a loan, you'll need the permission and cooperation of the lender to change the deed.