Quitclaim Deed

[nangosix]

Hi All! Looking for just a little advice. I am looking to see if anyone has done a quitclaim deed through a legal plan they purchased through work such as the Hyatt or MetLife plan? If you have, do you know the name of the lawyer you used? I’m just hoping to save some time and money this way. Thanks!!

 

[RoseGold]

DVC contracts are worth money. Why on earth would you quitclaim it?

Just sell it, or you (or recipient) can pay a little money to gratuitously transfer it.

 

[supersnoop]

Quitclaim deeds, in my experience, cause problems. They muddy the waters when trying to determine clear title. Please don't.

 

[Bruggok]

If you are simply trying to transfer ownership to a family member for a token amount, if it's an Orange county FL DVC, somewhere here there is a thread describing how to DIY low cost. Sorry I can't find it at the moment.

 

[CarolynFH]

For the thread about transferring ownership to a family member, click here: Gratuitous transfers

 

[Yinn]

Hi All! Looking for just a little advice. I am looking to see if anyone has done a quitclaim deed through a legal plan they purchased through work such as the Hyatt or MetLife plan? If you have, do you know the name of the lawyer you used? I’m just hoping to save some time and money this way. Thanks!!

I'm assuming what you really want is a greatuitous transfer as @CarolynFH stated. You won't have to go through MetLife or Hyatt for that.

But just in case you're not and you're just trying to dump a dvc contract, I would be willing to save you some money. I will take the DVC contract off your hands, free of charge. I'll pay all legal and closing fees. Just trying to help a fellow disboard member out...

(No way it passes ROFR, which means Disney will reclaim it from you for free)

 

[castle1]

Aren't quitclaim deeds required by DVC involving divorces?

 

[nangosix]

Aren't quitclaim deeds required by DVC involving divorces?

Yes they are required for divorces. I had a quitclaim deed done in the past when I got divorced. However, I have since bought direct and am listed single on the title. I’m getting remarried and we are also in the process of buying a couple of resale contracts. We want my fiancé to be listed on the direct deed so that we get direct benefits for him as well and so all the the contracts go under the same membership. It’s simply to add him to the deed.

 

[nangosix]

I'm assuming what you really want is a greatuitous transfer as @CarolynFH stated. You won't have to go through MetLife or Hyatt for that.

But just in case you're not and you're just trying to dump a dvc contract, I would be willing to save you some money. I will take the DVC contract off your hands, free of charge. I'll pay all legal and closing fees. Just trying to help a fellow disboard member out...

(No way it passes ROFR, which means Disney will reclaim it from you for free)

Definitely not dumping my contract. I’m adding my fiancé to the deed so that with the other contracts we are currently purchasing can go under the same membership. It’s that simple. Just a name change to the deed. I’m not giving this contract away. I’m just adding a name.

 

[nangosix]

DVC contracts are worth money. Why on earth would you quitclaim it?

Just sell it, or you (or recipient) can pay a little money to gratuitously transfer it.

I’m not getting rid of the contract. I’m adding a name. To do a name change on the deed, you have to have the deed redrawn. It’s not a gratuitous transfer. It’s adding a member so he will be on the direct deed as well and once our direct benefits return he is also eligible. Additionally we are in the process of buying multiple contracts and want everything under one membership number.

 

[nangosix]

Perhaps I am supposed to do the gratuitous transfer ... I thought that either way the quitclaim had to be done to add the name . It shows on a quitclaim that there is $0 being paid and just re-titles the deed. I have emailed member administration again so I should have a response in about two weeks, . But this is the definition:

 

[Sandisw]

I added my adult children and wanted it done so that the RIV contract I was buying would be in the same membership.

We did a gratuitous transfer. I used a company Disney recommended but cheaper ways to do it! The thread above is a good way. The company www.ltttansfers.com has gotten good reviews.

I would also contract or out on the née resales that you are changing ownership in your current membership so they don’t create née ones if the ownership hasn’t yet been done.

They did that for me. As soon as the SSR contract was recorded and MA notified, they added RIV.

ETA: The gratuitous transfer is what allowed all benefits to transfer. I am not sure if it is the same for a quitclaim.

 

[Yinn]

Perhaps I am supposed to do the gratuitous transfer ... I thought that either way the quitclaim had to be done to add the name . It shows on a quitclaim that there is $0 being paid and just re-titles the deed. I have emailed member administration again so I should have a response in about two weeks, . But this is the definition:
View attachment 565278

This might help, but you might have to wait until your fiancee is your husband.

https://disneyvacationclub.disney.g...gespecific/eng/faq/LTRTRANSRevised9-23-15.pdf

 

[RoseGold]

We want my fiancé to be listed on the direct deed so that we get direct benefits for him as well and so all the the contracts go under the same membership.

I would either wait until the marriage or put the contract under a corporate entity or trust. There are many options, and I would care about your exit strategy as well.

This is a five figure, multi-state real estate transaction, and you are using words you do not understand. It is time to talk to a local lawyer before you do this.

 

[Dyefrog]

This brings up an interesting point. I plan on buying DVC solely however, eventually it will pass on to my children. Should I or can I add them on the deed now and avoid complications at probate after my passing?

 

[Yinn]

This brings up an interesting point. I plan on buying DVC solely however, eventually it will pass on to my children. Should I or can I add them on the deed now and avoid complications at probate after my passing?

If your children are minors, they can't be added to your deed. If they are not, you can add them now to avoid any future complications. However if you add multiple children, you may still run into complications if they are not on the same page as they will be equal owners and all have the same access you do.

 

[CarolynFH]

Perhaps I am supposed to do the gratuitous transfer ... I thought that either way the quitclaim had to be done to add the name . It shows on a quitclaim that there is $0 being paid and just re-titles the deed. I have emailed member administration again so I should have a response in about two weeks, . But this is the definition:
View attachment 565278

I agree with others that a gratuitous transfer may be what you need to do - but I'm not certain, given that your fiancé is not yet a "family member." You might want to wait until after the wedding, because that changes the relationship and may make it easier to change the deed.

I also can endorse LT Transfers - they handled some complicated timeshare transfers for my family, involving non-DVC timeshares, efficiently and at very reasonable cost.

 

[RoseGold]

This brings up an interesting point. I plan on buying DVC solely however, eventually it will pass on to my children. Should I or can I add them on the deed now and avoid complications at probate after my passing?

A lot of people do this with trusts, and there are other structures to do this as well. I would never own real estate with someone I am not married to, especially outside my home state.

 

[Jodi Gross at DVCRM]

Perhaps I am supposed to do the gratuitous transfer ... I thought that either way the quitclaim had to be done to add the name . It shows on a quitclaim that there is $0 being paid and just re-titles the deed. I have emailed member administration again so I should have a response in about two weeks, . But this is the definition:
View attachment 565278

If you are currently in the process of buying other contracts, I would recommend having the title company that is doing your closing handle adding your fiancé to the deed they should do it for less if they are handling others at the same time.

 

[nangosix]

If you are currently in the process of buying other contracts, I would recommend having the title company that is doing your closing handle adding your fiancé to the deed they should do it for less if they are handling others at the same time.

Thank you. It turns out that my legal plan will cover this so the Attorney is putting the paperwork together for us.