Gratuitious transfers

[Daisyduck49]

What qualifies as a Gratuitous transfer? What are the rules for when this can be used? Thanks!

 

[dmunsil]

What qualifies as a Gratuitous transfer? What are the rules for when this can be used? Thanks!

A gratuitous transfer is a gift of a deed to someone else or a retitling to add or subtract an owner. Name changes of the existing owners are also considered gratuitous transfers, as near as I can tell.

You still need to get a waiver of the Right of First Refusal, but Disney grants that for gratuitous transfers as a matter of course. If the grantee is a completely different person or persons than the grantor, Disney will ask that the grantee(s) fill out an affidavit stating that they are not providing any compensation for the transfer. If all you're doing is adding another family member or a trust for estate planning purposes, I think that wouldn't need the affidavit. Disney will tell you what you need; the key is to fill out their waiver of ROFR form and send them the details of the transfer.

 

[dmunsil]

One other good resource on this (and a good choice for actually doing the filing and so forth) is Nancy Spohn at Timeshare Title and More. She used to work for DVC doing titling and administration back when they were opening and building OKW and Boardwalk. She will do any kind of gratuitous transfer (for a fee, obviously) and will know exactly what information and forms will be required. I don't have any connection to her company, but she was very helpful to me when I was trying to find out some information about how deeds are recorded.

http://timesharetitleandmore.com/

 

[Daisyduck49]

Thanks for the great info!

 

[iluvthsgam]

If you feel comfortable doing it, a gratuitous transfer can easily be done by yourself and save you about $400.

You need to get the paperwork to request a ROFR waiver from Disney.
Once you get the waiver, you draft a warranty or quit claim deed and file the new deed and ROFR waiver with the State of Florida, Orange County (for WDW properties). Once deed and waiver are filed send filed copies to Disney. This costs about $40 or so, depending on your individual circumstances. And it is not too difficult to do.

 

[Dean]

What qualifies as a Gratuitous transfer? What are the rules for when this can be used? Thanks!

There has to be no money changing hands for it to qualify under this approach. It would be illegal in FL (and all states I know of) to put it as a free transfer and make a deal outside of that process.

 

[Daisyduck49]

Thanks for the info - This would definitely not work for our situation.