Has anyone ever added someone to their deed?

[WildabouttheMouse2]

I would like to add my adult children to my deed, the recommendation from DVC is to go through a Title Company which is $475.00. Has anyone ever done this themselves and if so what are the steps to complete it? Is it hard to do?

 

[Sandisw]

Yes, I did it in the fall, I did use the Disney recommended company and it was easy,

There is also a company called LT transfers that does it for less and there is a thread about the process to do it yourself.

I will try to find and post link

 

[erionm]

See this thread for do-it-yourself steps: Step By Step - How to Add Names to an Existing Contract (Gratuitous Transfer)

There is also a company called LT Transfers that can do the paper work and their fees start at $150 per contract.

 

[WildabouttheMouse2]

Thanks Michael. I only have the 1 deed, so that is not bad at all. I just felt that $475.00 was too much.

 

[OKW Lover]

There was a very interesting thread about this subject a few months ago.
https://www.disboards.com/threads/experience-adding-person-to-deed.3793205/

 

[bumbershoot]

I’m another that used LT Transfers. Easy, fairly fast, and under half of what Disney’s recommended company charges. And for me I was adding me (I’d been the associate) and dropping my soon to be ex husband.

BUT. Please be sure you understand the liability of having them on the deed as owners. If any of them has a bankruptcy or nasty divorce, DVC is an asset that might become part of the court proceedings.

 

[mentos]

If you’re comfortable recording documents with the county registrar, it’s really easy. I’ve recorded death deeds and other items, all you need is a format to copy and to conform to their space requirements (usually posted online). $475 is horrendously overpriced IMO for a simple deed change.

the link above covers it all, all for about $50 (notary fees, postage, comptroller fees, etc...)

 

[jimaok]

I recommend lt transfers. It took exactly one month and $190.00 . I wouldn’t try it myself. They completed all the legal paperwork, mailing and correspondence between me, Disney and the recorder. I added my 2 DDs to our deed. They already have their blue cards.

 

[mentos]

BUT. Please be sure you understand the liability of having them on the deed as owners. If any of them has a bankruptcy or nasty divorce, DVC is an asset that might become part of the court proceedings.

Putting DVC into a trust would help with that, since the other person would be a beneficiary (and not an owner), it's generally shielded from litigation against them. However, if you are personally sued, creditors can liquidate the revocable trust as you are the trustee.

End result is the same though, you can pass on your DVC interest without probate when the time comes.

And on a side note: divorcing couples make a great source for resale contracts. Two of my contracts have come from divorcing couples.