Removing Name from Contract

[tigergrad]

A few years ago, I bought a small resale contract. I put it in mine and my 2 adult daughters' names. I would like to take my name off the contract and just let them be the owners. Can I do this?

 

[rcchello]

Yes, you can do this. There are options depending on the state your property is in.

Disney will handle it all for a fee. Simplest, but may not be the cheapest.

In Florida you can do all the paperwork yourself, with some fees to Orange County for recording the deed change.

There are lawyers and closing companies who will handle it for you.

Some states require a lawyer be involved in a closing.

 

[rowval]

Yes, you can do this. There are options depending on the state your property is in.

Disney will handle it all for a fee. Simplest, but may not be the cheapest.

In Florida you can do all the paperwork yourself, with some fees to Orange County for recording the deed change.

There are lawyers and closing companies who will handle it for you.

Some states require a lawyer be involved in a closing.

I want to add my kids name, how can i do this in Florida myself?

 

[rowval]

Reply for notification

 

[rcchello]

The following thread describes the process

http://www.disboards.com/showthread.php?t=2346564&highlight=quit+claim

 

[Nanajo1]

My dear Popgfd died last week. We were just talking about our next big family trip that morning. We had 7 contracts. Is this going to make removing his name and add our children's more difficult? I want to get my things in order. Can I follow the directions Dean listed? This is definitely the last thing I thought I would be doing. Thanks for any help

 

[supersnoop]

My dear Popgfd died last week. We were just talking about our next big family trip that morning. We had 7 contracts. Is this going to make removing his name and add our children's more difficult? I want to get my things in order. Can I follow the directions Dean listed? This is definitely the last thing I thought I would be doing. Thanks for any help

It depends how the deed was recorded, and how his wishes were documented. A deed can be recorded such that the ownership interest transfers to the other owners upon death, or the ownership interest may revert to the estate. Then the executor of the estate will distribute property as directed by the will.

 

[Dean]

My dear Popgfd died last week. We were just talking about our next big family trip that morning. We had 7 contracts. Is this going to make removing his name and add our children's more difficult? I want to get my things in order. Can I follow the directions Dean listed? This is definitely the last thing I thought I would be doing. Thanks for any help

I'm sorry for your loss. I'm not a lawyer and you'll need one in this situation. Technically the steps are the same but with a death, probate will have to be involved. It shouldn't prohibit usage if you are also listed but likely will hold up adding other names though the additions and removal should be able to be done at the same time. As long as there's a will and no drama, it shouldn't be too difficult. No matter who paid for his portion or what was promised, the will should determine who owns that portion and if not, it shouldn't be difficult to divide up. If there's no will, it's more complicated and falls back to the laws of the state in question.