deed name changes?

[reed]

I need to add two names to my DVC deed and take one off.
Has anyone done name changes, additions or deletions??
I think I need an attorney for this and I know Disney doesn't handle it.
Any suggestions?

 

[dianeschlicht]

You need to get a quit claim first, and I think you can do that on line. Not sure, but I think those are state specific, and might be county specific. It must be done in the county where the timeshare is, so I would reccomend getting it all set, and then taking it in to the registrar on your next trip.

 

[Wigit12]

TimeShare Closing will handle it for you. $150.
They just handled one for MIL very efficiently.
877-889-2373

 

[reed]

thanks a lot - I knew the boards would have good advice.

 

[Dean]

TimeShare Closing will handle it for you. $150.
They just handled one for MIL very efficiently.
877-889-2373

Did this include the almost $50 recording fees?

One will still need DVC's OK which they'll give automatically if there's no money changing hands. Plus if there is a loan, you need the written permission of the note holder.

 

[Lady V]

Hi-I have a question along the same lines...I got a divorce a year ago. In the divorce I got DVC. We had only bought it a year before so thre are still 9 years left to pay. I have been paying ever since even though his name is still listed as the main purchaser. He has no idea his name is even on it anymore though and he really doesn't care-he didn't really want it even when we bought it-I am definately the DISNEY nut!!! Anyways, when I spoke to member services about this all they said in order to take his name off I had to pay it in full. There was no way I could do that. But I really want it to just be in my name. IS this other company you have written of a way to take his name off of it? I hope so!!!

 

[Chuck S]

Hi-I have a question along the same lines...I got a divorce a year ago. In the divorce I got DVC. We had only bought it a year before so thre are still 9 years left to pay. I have been paying ever since even though his name is still listed as the main purchaser. He has no idea his name is even on it anymore though and he really doesn't care-he didn't really want it even when we bought it-I am definately the DISNEY nut!!! Anyways, when I spoke to member services about this all they said in order to take his name off I had to pay it in full. There was no way I could do that. But I really want it to just be in my name. IS this other company you have written of a way to take his name off of it? I hope so!!!

No, any note must be paid off before title can be transferred. An option may be for you to take out a loan from your bank, possibly a mortgage on your house, and pay off the Disney loan...thus clearing the DVC obligation, then you can transfer the deed.

 

[Doctor P]

Hi-I have a question along the same lines...I got a divorce a year ago. In the divorce I got DVC. We had only bought it a year before so thre are still 9 years left to pay. I have been paying ever since even though his name is still listed as the main purchaser. He has no idea his name is even on it anymore though and he really doesn't care-he didn't really want it even when we bought it-I am definately the DISNEY nut!!! Anyways, when I spoke to member services about this all they said in order to take his name off I had to pay it in full. There was no way I could do that. But I really want it to just be in my name. IS this other company you have written of a way to take his name off of it? I hope so!!!

I don't believe so. You must pay the mortgage in full before his name can be removed. If you could somehow refinance and pay off the mortgage, that would do the trick, too, I think.

 

[Dean]

Or you could get the permission of the note holder though unlikely they will give it. Remember this is still technically his property in spite of what your divorce decree says. If he gets in financial trouble, this will be counted as his asset. And he could call and make reservations, etc if he wanted.

 

[Lady V]

how depressing!! I would be so mad!!! and so sad to not have my points!!

 

[Doctor P]

Or you could get the permission of the note holder though unlikely they will give it.

Absolutely 100% correct. I'm assuming that the OP financed directly through Disney, in which case my understanding is that they are directly holding the note. Thus, DVD's answer would be the note holder's answer, and it is my understanding that they have historically been unwilling to give this waiver/permission. If the OP financed other than through Disney, then it is great advice to try to go to the note holder (if this is a home equity line and he is still on the home mortgage, though, this gets dicier).

 

[Dean]

Absolutely 100% correct. I'm assuming that the OP financed directly through Disney, in which case my understanding is that they are directly holding the note. Thus, DVD's answer would be the note holder's answer, and it is my understanding that they have historically been unwilling to give this waiver/permission. If the OP financed other than through Disney, then it is great advice to try to go to the note holder (if this is a home equity line and he is still on the home mortgage, though, this gets dicier).

Two thoughts. One is that I seem to recall DVC has started selling those notes to a third party at least part of the time. Second, even if DVC held the note, there would have to be a specific department/person/committee who gave any permission. But the end point would be the same, unlikely to happen.

Actually the best scenario in this situation would be to save up the money separately while making the minimum payments along the way OR to arrange a better finance deal though I'm uncomfortable with a second mortgage or home equity in this situation. Then do a formal "sale" where you used a closing company with title insurance. That way you could tie the act of paying it off to the transfer of the title. And the sooner the better in this situation.

 

[Lady V]

thank you all-I am a senior at the University of Tennessee and when I graduate I plan to possibly move and sell my house. (It is all mine-refinanced it under my name only a year ago). ( By the way, i am 32 so I didn't want anyone wondering how how old I was when I said I was graduating!! I used to perform professionally around the country so it took a while to finally get bak into school!!) anyways, that was an ADD moment!! S0, back to my original point, when I had the house appraised last year it was worth considerably more than I owed so I am *hoping* that when I sell it to pay off this DVC and most of , if not all, my student loans. So, then I can move on with my life completely!!

 

[Cruelladeville]

We are currently going thru this, giving a contract to our DD, and had planned to continue paying dues. We found out that we have to pay this year's dues in full before we transfer ownership, then we can arrange to pay next year's dues on a monthly basis. I think the $150 fee includes Disney's fees, since the closing company included a form for a new card with our paperwork. The good news is that the ROFR waiver only took a week to get back from Disney!