mum transferring dvc to me?

[toots82]

Hi everyone,

so, my mum has points at BLT, its all paid for, no loans or anything on it. Hubby and I were discussing buying DVC, I said to mum we could see if its possible to get same use year as her (we always go together, in the past my brother and his daughter have come too but he's said he doubts he'll go again) So, mum said I'll just give you mine. She's on her own so probably wouldn't go alone plus even if it were my name on it she's still be coming with us. Hubby and I would still add points on through resale or Disney so we could go more often (to avoid borrowing as we'd still need 2 bedroom if mum were with us as my kids getting bigger). Obviously we would pay my mum but it would just be set up between us. So can she put my name on it or sign it over to me without it being classed as resale? Sorry if that's all jumbled

 

[disneynutz]

Contact Disney Administration to find out what docs they require. You will have some fees and you need to file a new need Deed with the county clerk.

Bill

 

[toots82]

thank you

 

[Dean]

Hi everyone,

so, my mum has points at BLT, its all paid for, no loans or anything on it. Hubby and I were discussing buying DVC, I said to mum we could see if its possible to get same use year as her (we always go together, in the past my brother and his daughter have come too but he's said he doubts he'll go again) So, mum said I'll just give you mine. She's on her own so probably wouldn't go alone plus even if it were my name on it she's still be coming with us. Hubby and I would still add points on through resale or Disney so we could go more often (to avoid borrowing as we'd still need 2 bedroom if mum were with us as my kids getting bigger). Obviously we would pay my mum but it would just be set up between us. So can she put my name on it or sign it over to me without it being classed as resale? Sorry if that's all jumbled

You'll have to change the deed. If you do it through Disney, I believe it's done up to $500. If you'll always go together you could just get her to add you as associates. Otherwise you could get the deed changed much cheaper than $500, as little as around $50 if you did it all yourself, maybe $130 if you got LTtransfers to do it. If you do decide to change the deed you might consider adding your names and keeping your mom's just in case. Or you could be added as an associate and then buy the add on yourself, the only downside would be the ease of combining points. IF you decide to change the current deed, I'd do that first before you do the add on then do it exactly the same as the first title.

 

[lawgator]

Hi everyone,

so, my mum has points at BLT, its all paid for, no loans or anything on it. Hubby and I were discussing buying DVC, I said to mum we could see if its possible to get same use year as her (we always go together, in the past my brother and his daughter have come too but he's said he doubts he'll go again) So, mum said I'll just give you mine. She's on her own so probably wouldn't go alone plus even if it were my name on it she's still be coming with us. Hubby and I would still add points on through resale or Disney so we could go more often (to avoid borrowing as we'd still need 2 bedroom if mum were with us as my kids getting bigger). Obviously we would pay my mum but it would just be set up between us. So can she put my name on it or sign it over to me without it being classed as resale? Sorry if that's all jumbled

I went through this process this year with 6 of my mother's contracts when she wanted to add my sisters and me after my Dad passed. You will need to get a "request to transfer" form from Disney and have your Mom sign and submit that first. Then you will go through the process where Disney takes 30 days to review it for their "waiver of right of first refusal". You have to do this even if it is a transfer within the family. If your Mom gifts you the contract and deed then there will be no problem with Disney approving the transfer. If you pay her money for it, then Disney can and may exercise their waiver of right of first refusal and consider it a resale. It will not be considered a resale if it is a gratuitous transfer and you will have all the benefits that a person who buys direct from Disney has (things like being able to use points for the Disney Collection).
After Disney gives you your waiver of right of first refusal you need, as others have said, to file a new deed (and pay the required filing fees) and after that submit a copy of the recorded deed and copy of the waiver of right of first refusal to Disney for them to change their membership records. There is a thread on the Dis boards from those of us who have done this ourselves, but if you aren't comfortable with that, you should use an attorney. I don't know your family situation, but since it is from your Mom to you, you might be able to forego purchasing title insurance which should save you some money, too. Good luck.

 

[Dean]

I went through this process this year with 6 of my mother's contracts when she wanted to add my sisters and me after my Dad passed. You will need to get a "request to transfer" form from Disney and have your Mom sign and submit that first. Then you will go through the process where Disney takes 30 days to review it for their "waiver of right of first refusal". You have to do this even if it is a transfer within the family. If your Mom gifts you the contract and deed then there will be no problem with Disney approving the transfer. If you pay her money for it, then Disney can and may exercise their waiver of right of first refusal and consider it a resale. It will not be considered a resale if it is a gratuitous transfer and you will have all the benefits that a person who buys direct from Disney has (things like being able to use points for the Disney Collection).
After Disney gives you your waiver of right of first refusal you need, as others have said, to file a new deed (and pay the required filing fees) and after that submit a copy of the recorded deed and copy of the waiver of right of first refusal to Disney for them to change their membership records. There is a thread on the Dis boards from those of us who have done this ourselves, but if you aren't comfortable with that, you should use an attorney. I don't know your family situation, but since it is from your Mom to you, you might be able to forego purchasing title insurance which should save you some money, too. Good luck.

IMO title insurance is rarely a good option for DVC resale. Certainly in this situation if it were bought retail by her mother, there is zero need for it.

 

[toots82]

I went through this process this year with 6 of my mother's contracts when she wanted to add my sisters and me after my Dad passed. You will need to get a "request to transfer" form from Disney and have your Mom sign and submit that first. Then you will go through the process where Disney takes 30 days to review it for their "waiver of right of first refusal". You have to do this even if it is a transfer within the family. If your Mom gifts you the contract and deed then there will be no problem with Disney approving the transfer. If you pay her money for it, then Disney can and may exercise their waiver of right of first refusal and consider it a resale. It will not be considered a resale if it is a gratuitous transfer and you will have all the benefits that a person who buys direct from Disney has (things like being able to use points for the Disney Collection).
After Disney gives you your waiver of right of first refusal you need, as others have said, to file a new deed (and pay the required filing fees) and after that submit a copy of the recorded deed and copy of the waiver of right of first refusal to Disney for them to change their membership records. There is a thread on the Dis boards from those of us who have done this ourselves, but if you aren't comfortable with that, you should use an attorney. I don't know your family situation, but since it is from your Mom to you, you might be able to forego purchasing title insurance which should save you some money, too. Good luck.

thank you

 

[toots82]

You'll have to change the deed. If you do it through Disney, I believe it's done up to $500. If you'll always go together you could just get her to add you as associates. Otherwise you could get the deed changed much cheaper than $500, as little as around $50 if you did it all yourself, maybe $130 if you got LTtransfers to do it. If you do decide to change the deed you might consider adding your names and keeping your mom's just in case. Or you could be added as an associate and then buy the add on yourself, the only downside would be the ease of combining points. IF you decide to change the current deed, I'd do that first before you do the add on then do it exactly the same as the first title.

thanks for all your help