Gifting a DVC to our adult son/daughter-in-law question

a742246

And, and, and I caught a fish this big!
Joined
Feb 5, 2008
We are planning to gift one of our DVC contracts to our son and daughter-in-law.

Can we do most/all of this ourselves?
I believe MS can send us the paperwork that we fill out and send back.
But after DVC OK's the gift and transfer, who does the recording of the deed with the county?

We have a reservation in November which our son and daughter-in-law is using. Can we gift that contract to them before the reservation is complete?

I know they will retain all the benefits that the contract has to offer, we purchased this in 2008.

Thank you in advance.
Wayne
 
Check out this thread: Step By Step - How to Add Names to an Existing Contract (Gratuitous Transfer)

While this thread is about adding someone, it can also be used to change who the owners are.
Grantor(s): are those giving the contract (original owners)
Grantee(s): are those receiving the contract (new owners)

Also, this thread is specific to the DVC Resorts located at WDW.

As for the upcoming reservation, that would be cancelled if the ownership transfer is completed prior to the reservations check out date.
 
You don't want to go through DVC to add a name as they will charge a significant amount to record the deed. Contact the County office. Fill out a quit claim deed and for about $30 they will file it for you.
 
You don't want to go through DVC to add a name as they will charge a significant amount to record the deed. Contact the County office. Fill out a quit claim deed and for about $30 they will file it for you.
There's a little more to it than filling out a quit claim deed - Disney has to waive their Right of First Refusal and has to create a new account for the new owners, but they do all of that at no charge. The thread Michael linked in his post above outlines the process that people can follow to do it themselves, but some owners would prefer to hire a knowledgeable firm to handle the paperwork. Disney will refer them to a company that does charge a significant fee, but there are other companies whose charges are more reasonable than the one Disney recommends.
 


There's a little more to it than filling out a quit claim deed - Disney has to waive their Right of First Refusal and has to create a new account for the new owners, but they do all of that at no charge. The thread Michael linked in his post above outlines the process that people can follow to do it themselves, but some owners would prefer to hire a knowledgeable firm to handle the paperwork. Disney will refer them to a company that does charge a significant fee, but there are other companies whose charges are more reasonable than the one Disney recommends.

Actually Disney was going to refer me to a company that was going to charge me hundreds to put a name on a title.

The County told me what to do, filed the quit claim deed and they processed it, sent copies to DVC admin and we were all done.
 
Actually Disney was going to refer me to a company that was going to charge me hundreds to put a name on a title.

The County told me what to do, filed the quit claim deed and they processed it, sent copies to DVC admin and we were all done.
Yes, you did it like the thread linked in Michael’s post. Not everyone is comfortable doing it themselves.
 
Yes, you did it like the thread linked in Michael’s post. Not everyone is comfortable doing it themselves.

When the title company DVC sent me to said it was between $3-500 to change the names, I refused to spend that much just to add on a name. Call me cheap. And then the county gave me specific instructions. They actually told me to get the deed at Staples, fill it out and send it in along with other paperwork and a check. Very easy. Used the money I saved to buy my wife two new tires for Christmas.

On Christmas morning, she then said, "OK that's nice but what am I really getting for Christmas?"
 


Yeah, the company Disney refers people to is way expensive. For people who aren’t comfortable or don’t have the time to do it themselves, LT Transfers is much more reasonable.
 
When the title company DVC sent me to said it was between $3-500 to change the names, I refused to spend that much just to add on a name. Call me cheap. And then the county gave me specific instructions. They actually told me to get the deed at Staples, fill it out and send it in along with other paperwork and a check. Very easy. Used the money I saved to buy my wife two new tires for Christmas.

On Christmas morning, she then said, "OK that's nice but what am I really getting for Christmas?"

In your case though you were adding someone but staying an owner and not giving to someone

I think it is a little different when you are no longer going to be owners because it then has to go through the ROFR process..

Not that one can not do it themselves, but from what I understood the process is slightly different.
 
In your case though you were adding someone but staying an owner and not giving to someone

I think it is a little different when you are no longer going to be owners because it then has to go through the ROFR process..

Not that one can not do it themselves, but from what I understood the process is slightly different.
Yes it is. But I was adding my DS because he turned 21, graduated Georgia Tech and moved out of state for his first job. Since he was no longer living at home, DVC would no longer consider him as family. He loves Disney, has been there about 20 times and I wanted him to have his own access to the contract and points as it will be his eventually. Does not know about the HOA fees though. That may shock him.
 
Yes it is. But I was adding my DS because he turned 21, graduated Georgia Tech and moved out of state for his first job. Since he was no longer living at home, DVC would no longer consider him as family. He loves Disney, has been there about 20 times and I wanted him to have his own access to the contract and points as it will be his eventually. Does not know about the HOA fees though. That may shock him.

Why we added our adult children as well. But, we did use First American and paid the high price as they got it done quickly as we were adding on direct at the same time and wanted the new contract with the kids as owners all in the same membership!

Mine do know about the dues but we have accounted for those to be paid for 10 years once DH and I are gone. Kids can decide what to do after that!
 
We thought about adding our adult kids to our contracts, but we don’t want them to be responsible for the dues. If I remember correctly our kids are listed as beneficiaries of our membership. Does that sound correct? It was over 21 years ago. I have to pull the deeds and refresh my memory. I want them to have the choice of not taking on our membership after we’ve gone. Until then we make the reservations in their name and let them make their plans from there. Besides, we’re not done using the membership. Hopefully we’re still around when BW expires!

Dee
 
We added our sons to our deeds (6) and recorded with Orange County. They now have their own log ins and membership cards. This allowed them to get the discounts available when they are traveling on their own at the resorts. Followed the method posted on these boards and also looked at a few examples that had recently gone through.
 
Just realize you gave them a legal interest in real estate. It's the same as putting them on the deed to your house. Any issues with debt or a failed marriage could result in a court battle over your DVC contract.
 
Just realize you gave them a legal interest in real estate. It's the same as putting them on the deed to your house. Any issues with debt or a failed marriage could result in a court battle over your DVC contract.

This is the reason we decided not to add our adult daughters to our contract. You just never know what may happen. I did wonder if we were to purchase a small add-on of 25-50 points and add an adult child on just the add-on if it would work for blue card benefits?
 
This is the reason we decided not to add our adult daughters to our contract. You just never know what may happen. I did wonder if we were to purchase a small add-on of 25-50 points and add an adult child on just the add-on if it would work for blue card benefits?
No. Having different people on a contract results in a new membership number so you'd need to meet the blue card requirement for the new membership for your adult child to get blue card benefits. However, adding the child to a membership that already has blue card perks expands those perks to the child.
 
No. Having different people on a contract results in a new membership number so you'd need to meet the blue card requirement for the new membership for your adult child to get blue card benefits. However, adding the child to a membership that already has blue card perks expands those perks to the child.

My son is not married so any property he owns cannot be taken by a spouse that eventually divorces him unless he puts her name on the DVC deed.
 
Very easy. Used the money I saved to buy my wife two new tires for Christmas.

On Christmas morning, she then said, "OK that's nice but what am I really getting for Christmas?"

This brought back a memory of a gift I received on Xmas Eve one time from hubby when I was young and feelings were much more fragile. I fought back tears because although the gift was given to me, it was essentially for him. He stayed quiet and let me suffer in silence.

Next morning there was a tiny package hanging on the tree. Jewelry. What a wife might expect and cherish. But the bad feeling from the previous night has never left.
 
My son is not married so any property he owns cannot be taken by a spouse that eventually divorces him unless he puts her name on the DVC deed.
Just make sure he never pays the maintenance fees on the contract. If he gets married and makes a single payment from comingled funds, it could be considered joint property.
 
Just realize you gave them a legal interest in real estate. It's the same as putting them on the deed to your house. Any issues with debt or a failed marriage could result in a court battle over your DVC contract.
THIS..... no one want to think the worst. BUT it is property . Bankruptcy , divorce, foreclosure can happen with your grand kids or that crazy daughter in law.
 

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