Changing Ownership - Transferring Membership within Family

[suncactus9]

Hi Board,

I was hoping somebody might be able to provide a bit of information to me. I am looking to transfer the ownership interest in my DVC membership from my wife and I to my parents.

I called Member Administration, and they were looking for nearly $500 to facilitate this transaction, but wouldn't I only need a Quit Claim Deed, which usually only costs roughly $10 to facilitate?

Has anybody done this before? What forms did you use? Thanks for your help in advance!!

 

[Dean]

Hi Board,

I was hoping somebody might be able to provide a bit of information to me. I am looking to transfer the ownership interest in my DVC membership from my wife and I to my parents.

I called Member Administration, and they were looking for nearly $500 to facilitate this transaction, but wouldn't I only need a Quit Claim Deed, which usually only costs roughly $10 to facilitate?

Has anybody done this before? What forms did you use? Thanks for your help in advance!!

You can do it yourself for recording fees, basically about $40 for a single contract. Just ask Member admin to email you the instructions. Fill out transfer form #1 and they'll give you ROFR & transfer form #2, then you'll record the ROFR along with the quit claim deed and the tax form you'll find on the Orange County website (this assumes it's a WDW based deed). Then return transfer form #2 and the recorded deed to DVC and they'll make the change. You need to not have a mortgage and there are 2 issues to be careful with. If it's a sale and not really a gift, it's illegal to put a different set of terms on the info sent to DVC. And if it's to avoid it counting for government issues (bankruptcy, public assistance, etc) there's normally a look back period, often 5 years and it can be criminal in some situations I'd talk to an attorney if relevant.

 

[deltanut]

I would consult with an attorney if you will do the transfer yourself. I am not an attorney, but did own a real estate title company and a Quit Claim deed was not a valid transfer document, especially with real property, when used alone. A Quit Claim deed, as advised by my staff attorney, is a document that in summation indicates that "I am not saying that I own any interest in the property, but if I do, then I transfer it to so and so."

Better to be safe than sorry, and to take that avenue that does not trigger the ROFR process.

 

[Dean]

I would consult with an attorney if you will do the transfer yourself. I am not an attorney, but did own a real estate title company and a Quit Claim deed was not a valid transfer document, especially with real property, when used alone. A Quit Claim deed, as advised by my staff attorney, is a document that in summation indicates that "I am not saying that I own any interest in the property, but if I do, then I transfer it to so and so."

Better to be safe than sorry, and to take that avenue that does not trigger the ROFR process.

A quit claim deed is what you say but it is a valid transfer document often used for DVC and even for true Real Estate when taking or adding a name such as in a divorce situation. Certainly it will work transferring DVC and DVC themselves even use them in some situations. The reasons to consult an attorney are not the transfer itself but certain situations that may lead up to it.