Re-Titling Question

[DMoss3377]

Hi everyone,

I won't go into great detail, but I need to advice/help. I recently concluded my divorce and as part of the settlement, I get to keep DVC. Now I need to get it re-titled into my name alone and take my EX off the title.

I'm not finding much assistance or help with this and when I spoke with DVC, they basically just sent me some info in the mail which I'm a little confused about.

I was wondering if anyone's done this before and if so, could you explain the process to me, what I need to do, any suggestions on attorney's to contact if I need to go through an attorney, etc?

Needless to say this has been a horrible experience for me and one of the only bright spots was having my EX agree to let me keep DVC, which was the least he could do. But now, I'm lost on what to do next to get this resolved.

Thanks for any help you can provide.

 

[RobDoc]

Yes, it can be retitled. All names on the deed, as it is now, will need to sign-off on any changes. I think any mortgage will also need to be paid off to make those changes. There will be costs incurred to make the change as the new deed will need to be recorded with the county.

I'm sure it can be done without an attorney, but it may be easier to have an attorney assist. You could also contact one of the closing agencies to see if they can help.

Timeshare Closing Services is a name that comes to mind- they are located in Orlando.

Good luck! Glad you got to keep DVC!

 

[disney-super-mom]

If the DVC is already paid off, all you'll need is a closing agent to redo the title paperwork. Your ex will have to sign paperwork also to relinquish his title (ownership) to the property.

If the DVC is not paid off, you will have to get new financing for the balance you owe. The new financing will then be used to pay off the original creditor, and you will then make payments to the new creditor. In other words, you'd basically be doing a refi. on the DVC. This will have to be done first, before you can go to a closing agent to redo the paperwork.

You shouldn't need an attorney for this as it has already been agreed to in the divorce proceedings in court. However, you will need to pay typical closing costs to do this which would most likey be a few hundered dollars.

Good luck with all this and I wish you all the best and happier times in the future!

 

[kadaten]

Um.....can't she just get her xDH to sign a quit-claim deed?

And she shouldn't have to refi. unless removing his name from the mortgage was part of the agreement. I know my mom never did refi. her house after she and dad divorced. He had to sign a quit claim deed relinquishing all his rights to the property. Mom is still paying on the original mortgage with both names listed.

The mortgage company will not remove a name without refinancing, and it's silly to refi and incur all those costs again just to remove his name. A name on the mortgage says he's (partially) responsible for the payments, NOT that he owns it. That's what the deed is for. Now if the courts compel you to do it, you must. But otherwise, it will continue to show on his credit record as a liability....but he cannot make you remove his name....only the courts can. And if you have to do that, I'd make him pay the closing costs!

 

[lark]

Can anyone really just quit claim a DVC property to anyone else? Seems like it would be a big loophole around ROFR.

 

[disney-super-mom]

If the DVC is already paid off, it maybe fairly easy and inexpensive for a closing agent to draw up the paperwork for your ex to sign to relinquish interest in the property, and then draw up a new deed in your name only. It most likely won't be as much as typical closing costs. It's possible that there's a way for him to "gift" it to you, but you'd have to speak to a closing agent about that. That should be the first thing you do. Call a closing agent, and they'll be able to tell you exactly what is the right course and easiest course to take for him to relinquish all ownership to you.

Most likely, if the DVC membership is not paid off, you will have to refi. Your ex. will not want to stay on the mortgage, and therefore be legally obligated to repay should you default on making payments, for a property he has no title to.

Again, I wish you all the best!

 

[disney-super-mom]

Can anyone really just quit claim a DVC property to anyone else? Seems like it would be a big loophole around ROFR.

I'd like to know this myself - Great question!

 

[DMoss3377]

Thank you for all the responses. I was so worried I'd have to go through more attorney's to get this handled and this has been such a nightmare to begin with, I just want to move on with my life and start making new happy memories.

The mortgage is paid off, so it's just a matter of re-titling the deed. Do you think I need to contact a closing agent in Orlando or could one where I live in Virginia or another state be able to do it?

WebmasterDoc, thanks for the suggested closing agency to contact. If anyone knows of anyone else, please let me know.

I'm trying to get this taken care of quickly, as he will be moving out of state soon with his new family, so if he needs to sign something it'll be easier done now then after they move.

Thanks again!

 

[debbie in Seattle]

I'm sort of in the same situation. Who would you guys recommend? Does it have to be someone in Florida or in my own home state? I'm assuming it's just a notarized signature that's needed.

 

[Dean]

Can anyone really just quit claim a DVC property to anyone else? Seems like it would be a big loophole around ROFR.

Even with a quit claim deed you will need a ROFR waiver from DVC. It should not be difficult to do and you can do it yourself for the recording fees. If you must have someone else do it, Timeshare Transfers will do so for $250. Even for a new warranty deed, you can do it yourself easily using the old deed. No need for title insurance in this situation, and frankly with DVC, it's almost never needed. Email me directly and I can give you some additional info, fax numbers, etc.

 

[kadaten]

Even with a quit claim deed you will need a ROFR waiver from DVC. It should not be difficult to do and you can do it yourself for the recording fees. If you must have someone else do it, Timeshare Transfers will do so for $250. Even for a new warranty deed, you can do it yourself easily using the old deed. No need for title insurance in this situation, and frankly with DVC, it's almost never needed. Email me directly and I can give you some additional info, fax numbers, etc.

Yay, Dean! I knew someone would come through with an easier way!
Woo hoo!

And to the OP--Good luck getting everything done and settled.

 

[AJR]

I posted this a while back I'm not sure if it is still on this thread. So here we go.
Your DVC can be changed with out hiring a professional. You will need to take the following steps.

1. Mortage satisifcation letter from Disney
2. Send right of first refusal letter to Disney, explain that it is a court order I sent copy of divorce decree cover page and page that showed only DVC information.
3. You should get you ROFR letter in 1 to 2 weeks.
4. Go to Staples or any office supply store and get a quit claim deed for FL. Fill out quit claim deed and have the completed deed notorized. This can be done in your home state.
5. Download FL taxation department DR219 and complete.
6. Send ROFR letter, quit claim deed, and DR219 to Orange County Comptroller. You must send a check for $18.50 per page to be recorded ( price last year).
7. Send change of membership letter and fee to DVC for changing the member names. It was $100.00, but I had heard that fee has changed.

DVC and Orange Co Comptroller will tell you to hire a FL realestate attorney, however it can all be done on your own for about $50.00.
Hope this helps. If you have any questions post them or PM me.

 

[AJR]

I bumped the divorce and DVC contracts back up. The thread was from August 2005, it has lots of helpful information.

 

[DMoss3377]

Thanks everyone...sounds like it won't be so bad wrapping this up after all. You've all been a huge help!

 

[barb45]

Hi everyone - I'm bumping this up and adding a bit. I'm going through this right now and just hate to face any more work but I guess I have to. We had an amicable split (he bought me out of the house and gave me the DVC - and that's it - just like that). It's a very difficult time. I'm just wondering if I could just leave his name on it and I could just carry on without him??? There is no mortgage on it. Also I'm Canadian so some of this seems pretty confusing to me. I guess I just want to settle down (between moving twice in 2 months- first to an apartment and in 2 weeks to a house) and working 50 hours a week, I'm exhausted! Is it possible to download these staples/office max forms from the internet? Thanks everyone.

 

[AJR]

I'm not sure if staples has down loads available, but you probably could just order them online and have them shipped to you. If you have any questions just PM me.