Co Owners of Contract

[dvcdisney]

If my husband and I are considered co-owners of a contract, is it difficult to remove one from the contract? What needs to be done?

 

[Chuck S]

If the contract is still financed, it is doubtful a change can be made. Once the contract is paid off, you will need to submit the transaction, even if no $ changes hands, to DVC to waive the right of first refusal. You'll then need to fill out new deeds and file them in whatever state and county the resort is located in. For WDW DVC resorts, it is Orange County, FL.

 

[dvcdisney]

Thanks for the info.

Yes, it is complete paid off. I just didn't know if it's a matter of simply requesting a change with MS (and a signed authorization/agreement) or it needs to go through a lawyer.

 

[Chuck S]

You can likely draw up a quit claim deed yourself. If this is an estate or divorce, I would just have the attorney handling it draw it up.

 

[bookswin]

If the contract is still financed, it is doubtful a change can be made. Once the contract is paid off, you will need to submit the transaction, even if no $ changes hands, to DVC to waive the right of first refusal. You'll then need to fill out new deeds and file them in whatever state and county the resort is located in. For WDW DVC resorts, it is Orange County, FL.

Chuck:

If a husband wants to gift his interest in a paid off contract to his wife, what dollar figure does Disney use for ROFR ?

Does it differ if it's a gift to a child, relative, or friend?

 

[Chuck S]

They normally just waive the ROFR for gifted points, estates and divorces.

 

[dvcdisney]

You can likely draw up a quit claim deed yourself. If this is an estate or divorce, I would just have the attorney handling it draw it up.

It's not because of a divorce or anything like that. Long story, it's a matter of convenience.

I'll give MS a call and find out the simplest way to do this. Thanks.