Private seller purchase

[chskover]

I maybe buying my friend's parents DVC. Where do I find the paperwork to submit to Disney for approval? Also, we are in Ohio, do we use a local title company or contact a Florida one?
Thanks

 

[GoofyDisneyDaddy]

I would suggest you contact one of the title companies that does lots of DVC resales, and they can give you an estimate for doing the whole process for you -- probably like $500.

 

[icc2515]

I maybe buying my friend's parents DVC

Just know if they are planning on giving you the "friends and family" discount, Disney is also entitled to that discount. They will take it on ROFR and they won't even take your friends parents out to dinner for the great deal they received. Best to look at the ROFR thread and see what the points are going for right now.

 

[Marionnette]

I maybe buying my friend's parents DVC. Where do I find the paperwork to submit to Disney for approval? Also, we are in Ohio, do we use a local title company or contact a Florida one?
Thanks

Your friend's parents would need to set a fair asking price for you and that would have to be submitted to DVC for ROFR (right of first refusal). It's possible that Disney would want to take the contract for the price that your friend's parents are asking. If DVC decides to take it, then you're out of the picture. If they don't take it, then it can go on to the title company or any real estate lawyer in FL to take care of recording the new deed and sending the transfer of title paperwork on to DVC.

 

[TexasChick123]

Throw in some weird stuff like a rug, piece of furniture, etc. for part of your purchase price. They won't take it then. Good luck!

 

[mustinjourney]

Throw in some weird stuff like a rug, piece of furniture, etc. for part of your purchase price. They won't take it then. Good luck!

Interesting thought. What if part of the sale is that the seller receives an autographed baseball from the OP (not the generic "buyer" -- but only from the specific person that is the OP)? Could DVC even "step into the shoes" of the purchaser at that point?

I'd have to think that wouldn't be allowed, as it would be a very easy work-around.

Does anyone know if the consideration for the contract has to be money for these transactions?

*ETA -- what I've found so far is that items that are inconsequential or unique can often be removed from the terms of the ROFR. The quote below is Georgia law -- but I suspect each state is similar.

A ROFR customarily provides, if exercised, the purchase or lease (as applicable) must be on the same terms and conditions as the third party offer triggering the ROFR. In other instances, the ROFR may provide that it must be on the exact terms and conditions. It may be more favorable to the ROFR holder if the exercise must only be on the same or equivalent economic terms. Some courts have held that certain terms of the third party offer may not need to be included in the terms of a ROFR acceptance if they are inconsequential or unique. For a further discussion of the cases in this area, see Exhibit F attached. If the ROFR acceptance is to be on the same terms and conditions as the third party offer, this places a burden on the grantor of the ROFR to determine whether the acceptance of the ROFR complies (i.e. is the acceptance on the same terms and conditions). If the grantor determines that it is, the third party offeree may challenge and file suit. If the grantor determines that the ROFR acceptance is not on the same terms and conditions and elects to sell to the third party offeree, the ROFR holder may challenge and initiate suit. Perhaps the grantor of the ROFR should be indemnified by the ROFR holder for any alleged improper exercise of the ROFR (absent gross negligence or willful misconduct of the grantor).

http://www.lewisrice.com/content/up...rst-Refusal-Rights-of-First-Offer-Revised.pdf

Exhibit F has various examples of "same terms and conditions."

If the literal matching of terms were required, a triggering offer could by offering some unique consideration such as existing trust deed notes, a bag of diamonds or a herd of Arabian horses, effectively defeat the lessee’s right of first refusal.” C. Robert Nattress & Associates v. CIDCO, 184 Ca.App.3d 55 (1986).

Of course -- the remedy in this situation is to sue Disney, which is unlikely to be worth the trouble.

 

[Dean]

Throw in some weird stuff like a rug, piece of furniture, etc. for part of your purchase price. They won't take it then. Good luck!

DVC will require a value and use that value or they simply will say no. I've been in this situation directly with DVC but for different reasons. We were trading timeshares and the payment was the other. DVC required a value for the other timeshare to make their decision, otherwise they just wouldn't consider it. In our case the real value was in line for both so there was no problem.

It is illegal in all states I am aware of to put one price when it's really another. I would consider doing it myself or I'd 'look at LT transfers where one should be able to get out for under $200 total. The member can get the transfer info directly from DVC but it may be on the members website now, I can't look right now.

 

[TexasChick123]

Interesting thought. What if part of the sale is that the seller receives an autographed baseball from the OP (not the generic "buyer" -- but only from the specific person that is the OP)? Could DVC even "step into the shoes" of the purchaser at that point?

I'd have to think that wouldn't be allowed, as it would be a very easy work-around.

Does anyone know if the consideration for the contract has to be money for these transactions?

*ETA -- what I've found so far is that items that are inconsequential or unique can often be removed from the terms of the ROFR. The quote below is Georgia law -- but I suspect each state is similar.



http://www.lewisrice.com/content/up...rst-Refusal-Rights-of-First-Offer-Revised.pdf

Exhibit F has various examples of "same terms and conditions."



Of course -- the remedy in this situation is to sue Disney, which is unlikely to be worth the trouble.

DVC will require a value and use that value or they simply will say no. I've been in this situation directly with DVC but for different reasons. We were trading timeshares and the payment was the other. DVC required a value for the other timeshare to make their decision, otherwise they just wouldn't consider it. In our case the real value was in line for both so there was no problem.

It is illegal in all states I am aware of to put one price when it's really another. I would consider doing it myself or I'd 'look at LT transfers where one should be able to get out for under $200 total. The member can get the transfer info directly from DVC but it may be on the members website now, I can't look right now.

Well there goes that theory.