How to change the way title is held

hichicha

Earning My Ears
Joined
May 17, 2016
Messages
68
I just had an offer accepted on a Polynesian contract and it has the same use year as my existing VGC contract. I've read on here that they should be titled the same. My husband and I live in California and our grant deed for VGC states that we, husband and wife, hold title in tenants in entirety. However, I just googled this and this isn't a valid way to hold title in California. I'm wondering if we should file a corrective deed or if we have to go through a full change of title through DVC or LT Transfers. Thanks.
 
As to titling the same so you can use them together and have them both under the same membership number, the key is having the same named owners on the deed and thus one can be tenancy in the entirety and the other merely joint tenancy. Your Florida property will come with tenancy in the entirety, unless you request otherwise, and you need not change the California deed immediately to accomplish having the single member number for reservation purposes.

However, if your VGC deed actually is entitled as tenancy in the entirety, then something went wrong in the sale process and Disney, if it was the seller and controlled the closing, may be screwing up royally in California, a community property state where tenancy in the entirety is not recognized, and what needs to be on the deed is controlled by the state where the property is, regardless of where the owners live or purchase.

A probable result, if you make no change is that ultimately your deed will be treated as one of joint tenancy with right of survivorship, which is permitted in California. However, I personally would not take the risk of some mess being created later because of the wrong deed. Also, I would not just change the deed myself. I would instead return to Disney, if it sold you the property, or the broker if resale, and the closing title company, which likely prepared the deed, to get it corrected, which may require going through the full process of a deed change, i.e., whoever made the error should likely pay any costs.
 
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