DVC Title Change to add family members

[alicia080979]

Can anyone help us with adding new names to a DVC contract/deed? Here is the situation:

My mother bought a small DVC contract in Sept. and now wants to add my husband and I to the contract. We have taken my mother on 12 WDW vacations since 2009 and she will likely be traveling with us from now on as well because she doesn't travel alone and we love having her with us. She will also be leaving it to us at some point anyways so she wants to do it now so we can get the member benefits as well and keep everything the same for the future. She realizes now she should have done it initially to make it easier but she didn't so we are trying to figure out the most cost effective way to do it now.

I'm an associate on her DVC account and called today for some info and they said they no longer do the Title Changes and you have to go through a Title Company. I talked to the Title Company they recommended today and she said we could go through them and it would be $475 plus recording fees or if we did it ourselves we just had to send it into Orange County with the fees.

My husband & I were planning on buying 100points in Nov/Dec so we would like to get this done before then so we can put the new contract in all 3 of our names and have everything match.

Is this something we can do ourselves? Am I missing something or can we save a ton of money by doing this ourselves? Anyone have any suggestions or any resources to walk me through this?

Thanks!

 

[Dean]

If you're willing to do a little work you can do it yourself for the recording fees, under $50. If you want someone else to do most of it, LT Transfers is the cheapest I've seen and the last price I saw for FL was $132 plus recording. I'd start by emailing DVC MS and ask them to send you the transfer info and paperwork, that way you know what you're up against. It's really not that big of a deal to do it yourself in this situation. Too bad she didn't up front. I too would agree with getting this completed before adding another otherwise they will be legally separate.

 

[alicia080979]

Thanks so much for the quick reply.
I'm definitely willing to do the work myself to save us the money although $132 isn't bad but ~$50 is better
$475 is WAY too much if it is something I can do myself. It is only a 50 point contract, SSR bought direct. $475 is almost 2 yrs MFs so I'd prefer to utilize my time and save the money. After I email MS and get the paperwork would you mind if I message you to have you walk me through it once I get that step completed?

 

[Dean]

For that situation you may be better off buying a larger contract and selling that one. The cost for LT transfers is the $132 plus the roughly $50 recording. Here's the process.

Get the initial transfer instructions and first form from DVC. Complete transfer form #1 and send it in. In this case you'll get an automatic ROFR AND you won't have any risk to existing reservations.
Once you get the ROFR (and transfer form #2) you'll need a FL template for a quit claim deed. Complete that leaving the blank space required by FL law (FL templates should make that easy) using the legal description from your current deed. Record the deed and ROFR along with the tax form you'll find on the Orange County website then send a copy of the recorded deed and Transfer form #2 to Disney. You can be getting your deed and other info ready while waiting on the ROFR from DVD. Don't forget the deed must be notarized and have TWO witnesses. The notary can also witness but have to sign separately in a witness spot.

 

[alicia080979]

Thank you! Sounds like something I am going to tackle myself.

Glad to know about the automatic ROFR because we do have existing reservations at AKL so good to known those are safe.