Deed transfer to relative---is it possible?

[Mic]

My husband and I have been discussing the idea of transferring our small VB contract to his sister, since she has been wanting to purchase DVC for a while, but cannot afford the 160-point buy-in minimum. Will DVC allow us to just "gift" the 50-point contract to her, and what would be the process? If we have to pay for a closing, we may wait until next year to give it to them instead of giving it to them this Christmas. I know they can't afford a closing of $400, and we really can't right now(with oldest daughter's college tuition due in a month and second daughter applying for colleges at $70 per application). I have tried calling MS, but no one ever picks up in that department, just voicemail boxes. Has anyone had experience doing this? Any help would be appreciated.

 

[blizzard]

If you are indeed "gifting" it - no payment involved, Disney will usually waive their ROFR. You will however have to pay all costs to transfer and register the deed into their name. You could do this on your own, however it would be easier to have a closing company or attorney prepare the documents. If you do the documents yourselves, there still are costs associated with filing them at the courthouse.

First step is to find out if MS will waive ROFR and look into deed transfer costs. (they may not want to waive it, since it is a small contract that is changing hands, although they usually will if no money is exchanged)

 

[Chuck S]

You will need to submit it for ROFR, stating that your are gifting it. It should be an automatic ROFR waiver. You will also need to draw up a new deed and have it recorded with the County that Vero is in (Indian River?). Since it is family to family, I doubt a full title search would be necessary, unless one of the parties wants it.

I am assuming any mortgage you may have against the VB contract with Disney is paid in full.

 

[Amy5000]

For the record, I think the closing costs will be less than $400. Contact one of the title cos. that does DVC transfers (I used timeshare title & more) and ask what it would cost for you to have them prepare the transfer docs.

Good luck. Amy

 

[CarolAnnC]

Also, you should be contacting Member Administration and not Member Services. Good luck!

 

[Jets fan]

Hi

We did this last year as my brother in law gifted my sister and I 270 points for OKW (we are based in the UK).

We contacted member services (Contract Administrator) who sent out forms to complete to my brother in law. We then had to get these notarised by an official person in the UK. We then needed a legal representative in the US (Time Share Closing Services in Orlando were absolutely brilliant) who registered them with the local authority, who in turn, authorised them and sent them back to Disney.

Was a very long process, probably because we are based in the UK, but ROFR never came into it as it was a gift. Think it cost us around $300.

Was a relatively painless process but just took ages. We now love OKW and vacation for two weeks there every two years.

 

[Mic]

Thanks to everyone for the help! I should have clarified that I did try to contact Member Administration---that is the department that never picks up! I listened to the choices of numbers to push, and could not figure out what number best described my question, so I turned to the folks here. Anyway, it makes perfect sense to me now to just hire a closing company like Timeshare Closing(they handled the closing for my only resale purchase) to make sure everything is done right. My dilemma now is to decide whether I can afford to pay for the closing and the maintenance fees within a month of each other. Do you think I would seem cheap to ask them to pay for the closing and/or the maintenance fees(if the closing takes place before January)? If we do not give it to SIL and BIL, we have decided to just sell the contract.

 

[Jets fan]

Hi

Sorry, just looked at our paperwork and we definately did have a ROFR from Disney.

 

[Dean]

In this situation you can do the closing yourself and get the cost down to aroun d$50. It might be a little more difficult and take a little longer, but in this case, that shouldn't matter. In this situation you might consider just adding her as an associate, she wouldn't have member status but you'd avoid this issue and keep more flexibility using the points. One thing is whether you are truly giving them to her. If you'd just giving her a deal or letting her pay later, you'd have to disclose that on ROFR and DVC would likely take it under ROFR. It's illegal in FL to put one thing on the contract and secretly agree to other terms.

 

[TLSnell1981]

Thanks to everyone for the help! I should have clarified that I did try to contact Member Administration---that is the department that never picks up! I listened to the choices of numbers to push, and could not figure out what number best described my question, so I turned to the folks here. Anyway, it makes perfect sense to me now to just hire a closing company like Timeshare Closing(they handled the closing for my only resale purchase) to make sure everything is done right. My dilemma now is to decide whether I can afford to pay for the closing and the maintenance fees within a month of each other. Do you think I would seem cheap to ask them to pay for the closing and/or the maintenance fees(if the closing takes place before January)? If we do not give it to SIL and BIL, we have decided to just sell the contract.

I don't think that seems cheap at all! If you think they can't afford it....I would discuss it with them on the front end. It might take a little out of the surprise, but I think they will be thrilled!

 

[Mic]

We have NEVER used these points for our own reservations. I purchased them to book a reservation for my SIL when she was a single mother with 2 young boys, and have continued to do so since 2002. Her preferred time to go to Disney is right after school is out(2nd week of June), as her boys spend the rest of their summer with their father in another state. Her stays always required more than 50 points, but now that she is remarried to a man with 2 kids, and they have an infant together(total of 5 kids), I am not in a position to give her more points than is required for a studio for 5 nights. My husband has demanded that I either sell this contract or give it to SIL as a gift, so she can add on however many points she needs for future stays herself. He knows I will give her enough points each year for a 2-bedroom if she asks, so he would like her to either have the contract herself or we sell it and tell her we no longer have points for her use. As far as adding her on as an associate member...not gonna happen as long as I am married to DH. I begged him to let me do this for my sister in February, and I understand why he said no. I need to stop playing travel agent to the extended family, and getting rid of this contract is the first step in doing so. Thanks again to everyone for the advice! I have decided to present the choice to SIL and BIL SUnday, and let them decide if they want it. If they cannot afford the maintenance fees(@$300 per year) and the closing costs, then we will just sell it. My SIL has already told me they would like to go to Disney in June, so we can discuss how to make that happen this weekend.

 

[AJR]

I posted this a while back.
Your DVC can be changed with out hiring a professional. You will need to take the following steps.

1. Mortage satisifcation letter from Disney if not already paid
2. Send right of first refusal letter to Disney, explain that it is a family transfer.
3. You should get you ROFR letter in 1 to 2 weeks.
4. Go to Staples or any office supply store and get a quit claim deed for FL. Fill out quit claim deed and have the completed deed notorized. This can be done in your home state.
5. Download FL taxation department DR219 and complete.
6. Send ROFR letter, quit claim deed, and DR219 to Orange County Comptroller or which ever county Vero is in. You must send a check for $18.50 per page to be recorded ( price in 2004 in Orange County).
7. Send change of membership letter and fee to DVC for changing the member names. It was $100.00, but I had heard that fee has changed.

DVC and Orange Co Comptroller will tell you to hire a FL realestate attorney, however it can all be done on your own for about $50.00.
Hope this helps.
You can find all my other posts in reference to doing this by doing an advanced search or clicking on my profile and viewing all posts by user, however I think many of my older ones have been deleted. I have helped a few people change thier contracts in divorces or gifting thier deeds.

 

[kristinlynn]

AJR This is GREAT information. I'm in a similar situation and this is VERY helpful. One question. What happens after I send the ROFR letter, quit claim deed, and DR219 to Orange County Comptroller. You said I need to send change of membership letter to DVC. What should be included in the letter?

 

[littlestar]

I followed AJR's advice and we did a Quit Claim deed to give some BCV points to my parents. Total cost was around $48.00 with me typing/filing the Quit Claim deed and filing the DR219.

Thanks again, AJR.

 

[OlderMan]

....since this is Vero Beach, papers have to be handled through Indian River County NOT Orange County.....

FYI..........

 

[AJR]

AJR This is GREAT information. I'm in a similar situation and this is VERY helpful. One question. What happens after I send the ROFR letter, quit claim deed, and DR219 to Orange County Comptroller. You said I need to send change of membership letter to DVC. What should be included in the letter?

When the paper work is recorded at the county the new forms replace the old forms just like recording a sold house deed with the county.
My membership letter had the reason for the membership change and it contained my membership number and personal information.

It is quite simple do to as long as you call each party ahead of time to find out what exactally they want in the documents. However during your conversation with them they will advise you to consult a FL attorney.

 

[kristinlynn]

Great. one more question - how did you find the parcel ID number?

 

[AJR]

Great. one more question - how did you find the parcel ID number?

The ID number will be on original deed or you can find it on Orange County Comptroller website. Search under your name and parcel ID will come up.