Divorcing and need advice.

[jdbruce]

Hello. I’m currently in the process of divorcing my husband. I am asking for the DVC contract in the settlement. Can anyone here tell me what I would need to present to my attorney as far as paperwork goes? Sorry if this isn’t the right forum.

 

[justadreamaway77]

A copy of your deed?

 

[RoseGold]

This is deeded real estate. You have to change the title legally. You can find your deed here (for WDW): https://www.occompt.com/services/records-search/

Lots of people here have used LT Transfers.

DVC is easy to value. Lots of it changes hands all the time. The sales prices are all public information. I would pull the SALES, and not the listings to value it as part of the divorce, since you want it. Your lawyer might not be used to timeshares being worth anything, so you might have to prove this is a five figure asset. I would also be open to cashing it out and rebuying the resort YOU want. I think the resale market is bananas right now.

Hawaii is more difficult. If you have Aulani, there's a whole different process.

 

[MinniesYooHoo]

Sorry. Maybe I should've given more specifics. We bought resale in 2015. 300 points at BWV for $79pp. The loan isn't paid off yet. I have been paying for it myself since 2018. We financed through Monera and I've printed all I can from my account, but was wondering if there is anything I can print from my DVC account itself? I tried calling member services, only to discover that these questions are handled through Member Administration and they do not take calls. Only option is to email, and I have not received a response.

 

[Sandisw]

Sorry. Maybe I should've given more specifics. We bought resale in 2015. 300 points at BWV for $79pp. The loan isn't paid off yet. I have been paying for it myself since 2018. We financed through Monera and I've printed all I can from my account, but was wondering if there is anything I can print from my DVC account itself? I tried calling member services, only to discover that these questions are handled through Member Administration and they do not take calls. Only option is to email, and I have not received a response.

I think the copy of the deed as well as financial statements for loans and dues would be it

Once it’s agreed upon for you becoming sole owner, then you have to go through the process of changing title which, as mentioned, many have had good luck with LT Transfers.

 

[MinniesYooHoo]

I think the copy of the deed as well as financial statements for loans and dues would be it

Once it’s agreed upon for you becoming sole owner, then you have to go through the process of changing title which, as mentioned, many have had good luck with LT Transfers.

I do understand that the title needs to change once its all said and done. So DVC would be able to help me print a copy of the deed? Or is it simply the mortgage agreement from Monera that I need to supply?

 

[DonMacGregor]

Like any real estate asset, there are two things you need to do: 1. As is being discussed, you need to have your spouse's name removed from the title. Usually done through a Quitclaim Deed.

2. (and this may or may not apply), you indicated that the contract is financed (through Monera), so you'll need to have your spouse's name removed from the loan as well. In a normal real estate situation, that would require refinancing the loan in only your name and using only your income. I would not imagine your spouse wanting to be liable on a loan for an asset he no longer has an interest in.

The latter is the more entailed.

 

[DonMacGregor]

I do understand that the title needs to change once its all said and done. So DVC would be able to help me print a copy of the deed? Or is it simply the mortgage agreement from Monera that I need to supply?

You can get a copy of the deed from the county. You don't need DVC to do anything.

ETA: Let me be more specific. You don't need DVC to do anything in the process of transferring legal ownership. You WILL need DVC to change all the information in their system as far as legal owner of the contract, etc.

 

[MinniesYooHoo]

You can get a copy of the deed from the county. You don't need DVC to do anything.

ETA: Let me be more specific. You don't need DVC to do anything in the process of transferring legal ownership. You WILL need DVC to change all the information in their system as far as legal owner of the contract, etc.

OK. Perfect. Thank you.

 

[RoseGold]

Changing the financing is complicated, like any real estate loan. You either refinance or use other assets to pay it off and get him off the loan. I know I would insist on getting off that loan to avoid being foreclosed. It's not a bad time to sell, if these options are expensive or not possible.

The contract has a known value which is part of the assets. You should be able to easily calculate that and use that value in the division of the assets.

DVC doesn't care what your legal ownership is. You follow the process through the title company, like any other real estate, and then they handle it once that part is done. You can find your deed here (for WDW): https://www.occompt.com/services/records-search/

As long as you are both on the title, he has equal power to you to use/cancel trips. There have been stories about exes canceling trips, and we know how that goes with DVC.

I'd send an email to the board sponsor to get an estimate of what you could get for your contract and the commission rate. That's a very good estimate of what your contract is worth. You can see your points in your membership.

 

[DonMacGregor]

DVC doesn't care what your legal ownership is. You follow the process through the title company, like any other real estate, and then they handle it once that part is done. You can find your deed here (for WDW): https://www.occompt.com/services/records-search/

One possible point of clarification: you don't necessarily need a title company as there is no title search required or title insurance when transferring properties between spouses. Most counties have a real simple form that can be filled out and notarized by the transferring parties, then filed with a nominal fee.

 

[RoseGold]

One possible point of clarification: you don't necessarily need a title company as there is no title search required or title insurance when transferring properties between spouses. Most counties have a real simple form that can be filled out and notarized by the transferring parties, then filed with a nominal fee.

Maybe. The title has a lien from the financing and Florida has several ways even married people can hold title. This could be quite complicated.

I'd definitely be using someone local to iron this out, or selling. Selling is an elegant solution also.

 

[corpcomp]

Hello. I’m currently in the process of divorcing my husband. I am asking for the DVC contract in the settlement. Can anyone here tell me what I would need to present to my attorney as far as paperwork goes? Sorry if this isn’t the right forum.

Very sorry for your situation. Hope it all works out.