DVC Divorce Question

[Baileymouse]

It is with a heavy heart that I have to ask about this.

We bought into OKW in 98. There are four of us on the deed - Mom, her now-ex husband (after 31 years!), me and my DH. As part of the divorce she is supposed to buy his quarter. He tried getting half, but luckily we're the "other half" on the deed.

How the heck do we have him legally removed? Will we need a lawyer? The bill isn't paid off yet - it was a 10 year deal.

 

[randytenn]

I don't know if a Quit Claim Deed would work on this, or not.

Sounds like a job for the divorce attorney.

 

[tigger2esq]

get a lawyer!!!! the "deal" (of her buying out his 1/4) should be part of the settlement agreement for the divorce. Getting his name off the deed will require the FOUR of you executing a new deed to the three remaining parties. If his name is also on the loan--you MAY need to refinance. MANY mortgage/loan co's will not just let someone out of a mortgage/loan after a divorce. (they want to make sure they get their $$!). but like I said before---have your mom Get a lawyer to make sure she covers all her bases and you protect your interest in DVC!!!!!!!

 

[Chuck S]

Well, it wouldn't hurt to contact your DVC Salesperson/guide and/or member accounting to ask basic questions. I'm guessing you will need an attorney at some point, but at least they should be able to answer some basic questions on how to get started and the preceedure regarding the loan.

 

[disneyberry]

sorry to hear the news!

i'm pretty sure you have to pay off the loan first before changing the deed.
but it's possible that you can refinance it.
have you already contacted DVC about this?
i'm sure they can advise you on the procedure.
talk to Membership Administration.

good luck.

 

[pirateeast]

Odds are till the loan is payed off you will not be able to take his name off the deed. Best thing to do is get a lawyer, pay off the loan, then see about having a new deed filed witch will cost refiling fees. But make sure you talk to a lawyer and DVC, it will save you trouble in the long run.

 

[TheRustyScupper]

OK, so I don't know Florida law.
However, I have seen this in three other states.

1) Agreement to transfer ownership is written into divorce papers.
2) New full owner(s) take divorce papers to bank and refinance.
3) Title company takes over and closes with new owner(s).
4) If no loan & lien, title company can close without bank step.
5) There will be fees for new closing (DVC finance would waive?)
6) It is not a hard process, but there are a few bucks involved.
7) Sometimes closing can be as much as $450-$550.


* NOTE: I do not pretend to be a lawyer, nor do I give this as legal advice. This is only observation from three occurrences of folks I know.

* PS: Quit Claim Deeds are not valid in all states. They used to be very popular as a method to transfer real estate to the surviving spouse in the case of death, but several states even stopped this practice.

 

[Aimfred]

Unfortuantely, I have been through this myself, and know the answer. In my case, I was the unlucky party who lost the ownership.

First, my ex-husband had to have the loan refinanced in his name only. He got a home equity loan on our, excuse me, now his, house. Then he had to send the new loan info to Disney and a letter with it, asking to have my member privileges revoked. You also have to have the deed redone, by a lawyer. In our case, we came to realize that the deed had been originally issued in his name only, even though the loan was in both names, so we did not have to do this part. It is my understanding that you must submit everything to Disney, just like a resale, explaining the situation, and why you are buying that person out. You then must wait for them to approve the transaction.

It was really stinky for me to lose my DVC membership, especially since I was the person who wanted to join in the first place, and had to talk him into it. I did not even get any cash out of the deal, but was allowed one years points to use on my own. I really got hosed financially in my divorce. I basically just gave him everything, to avoid a long court battle that I didn't have the money to pay for. Now I'm back in good shape finacially, and am currently in the process of buying a resale at BCV! Yeah me!

I'm very sorry that your family has to deal with this pain and difficulty.

 

[MikeSquared]

Someone also stated in another thread that in order to add the name of a spouse to the deed it would have to go through the ROFR process before the new deed would be official. Not that Disney could purchase it since it's not being sold, but the new deed would have to be ROFR approved just as all others do before it could be officially recorded.

 

[anniet]

Originally posted by Aimfred
Now I'm back in good shape finacially, and am currently in the process of buying a resale at BCV! Yeah me!

Yeah you Aimfred!

Baileymouse, I'm so sorry you all have to go through all this. It makes me realize why our guide said "That is the best decision" When DBF insisted that DVC be put in my name only. I didn't understand why he would say that at the time, but now I keep thinking that he must have seen instances where breakups caused problems with DVC ownership. I hope it all goes smoothly for you and that once it's all settled you can relax on a DVC vacation!

 

[InstImpres]

Originally posted by MikeSquared
Someone also stated in another thread that in order to add the name of a spouse to the deed it would have to go through the ROFR process before the new deed would be official. Not that Disney could purchase it since it's not being sold, but the new deed would have to be ROFR approved just as all others do before it could be officially recorded.

I was the one who stated this. MS has been very helpful, but yes you do need to do ROFR and a new deed. My attorney was smart enough to have me get DVC but him do all the paperwork and pay the associated fees.

MS was also kind enough to make a note to contact me if anyone besides myself (ie my x) trys to make ressie now. Technically he can as he is still the member (and they would have to allow him to) but they would at least give me the heads up call. Also, my address is the one on file and there is a note about not changing it without a call.

Sandy

 

[Dean]

Originally posted by InstImpres
I was the one who stated this. MS has been very helpful, but yes you do need to do ROFR and a new deed. My attorney was smart enough to have me get DVC but him do all the paperwork and pay the associated fees.

MS was also kind enough to make a note to contact me if anyone besides myself (ie my x) trys to make ressie now. Technically he can as he is still the member (and they would have to allow him to) but they would at least give me the heads up call. Also, my address is the one on file and there is a note about not changing it without a call.

Sandy

I'm curious. If you got possesion of DVC and got a new deed, how can your ex have anything to do with it?

 

[Shelly S]

In addition to any lawyer fees (mine were about $300), disney charges an administrative fee of $100 to get things changed over. In my situation I was awarded the DVC membership which is paid for, but it took several months to switch the membership to my name only.

 

[InstImpres]

Originally posted by Dean
I'm curious. If you got possesion of DVC and got a new deed, how can your ex have anything to do with it?

Although it has been ordered by the court, it has not been executed by my x-DH. This as pointed out can take a few months. Although, yes if he made a ressie, I could take him to court it just would be pennywise and pound foolish. I thought it was great that MS was sensitive to this.

Sandy

 

[Cruelladeville]

If there is a divorce, and a balance is still owing, you must pay off the balance, sell, or refinance before you can alter the deed in any way. I recently received a fax from accounting on that very question. Generally, banks don't want to give you a loan for a timeshare unless you are going the home equity route. We elected to continue paying on the loan, which works only if the divorced spouse is honorable--and doesn't have the member number!

And, also as stated above, you can't add a spouse to a deed unless you go thru ROFR AFTER the loan is paid. DH had been omitted from one of our contracts thru an oversight, and DD is divorcing her spouse, so we are aware of both parts of this question. Divorce is very hard for everyone involved, I'm sorry to say.