Retitle the deed to a Trust

[milachy]

Has anyone tried to retitle their deed into a trust?

Just wondering if it is something I can do or if it has been done before.

 

[Dean]

It can be done but you'll need a new deed, new recording and possibly the $100 DVC transfer as well. I also think you'll have to go through the process of ROFR. Quite a lot of work and cost.

 

[Mojomanny]

Retitling should not be a problem. It should be no more difficult than retitling any of your other real estate assets.

There should be no need for ROFR since you are not selling.

(I am a financial planner and congratulate you for getting your Estate Plan in order!)

 

[CarolMN]

Originally posted by Mojomanny
Retitling should not be a problem. It should be no more difficult than retitling any of your other real estate assets.

There should be no need for ROFR since you are not selling.

(I am a financial planner and congratulate you for getting your Estate Plan in order!)

We are just about done with this process (retitling assets into a trust). We did need to get a ROFR waiver for our DVC contract, but it wasn't a problem. And we did have severla fees to pay - can't remember right now how much and for what. I do remember that some of them were for Orange County. I didn't consider it all that costly though, because I was comparing it to the cost of probate. Transferring property via probate in a state you didn't live in is costly!

Best wishes -

 

[milachy]

Thak you for the replies... Does anyone know the aprox cost of retitling the deed? Is it that costly going into probate in another state?

P.S. I am getting excited...My first trip to SSR is on Friday..

 

[Jay-Jay]

I am a paralegal in SC. This is not legal advice.

Florida has an extremely simplified probate process if all someone owns is real estate (timeshare or other form of ownership). My office is currently handling an Estate here in SC where the decedent owned a lot in Florida.We got a Florida attorney to handle everything in Florida from beginning to end (including recording fees, transfer taxes, and the required newspaper ad) for $950.00. A DVC transfer would have the extra $100 transfer fee, but around a thousand dollars, at least right now, is what it would cost to transfer your DVC contract if you died. The fees went up dramatically around July 1st. Prior to that, the attorney says he would have done it for $700.00. Just FYI.

 

[Dean]

Originally posted by milachy
Thak you for the replies... Does anyone know the aprox cost of retitling the deed? Is it that costly going into probate in another state?

P.S. I am getting excited...My first trip to SSR is on Friday..

Costs should be around $30-40 for recording. In addition, there may be the cost of the new deed, likely around $100. And the other issue is whether DVC will charge a transfer fee, if so, another $100. That assumes you do all the rest of the work yourself including getting the ROFR, sending to the county to record, etc.

 

[rinkwide]

Boy, am I glad we put ours in the trust in the first place.

 

[milachy]

Originally posted by Jay-Jay
I am a paralegal in SC. This is not legal advice.

Florida has an extremely simplified probate process if all someone owns is real estate (timeshare or other form of ownership). My office is currently handling an Estate here in SC where the decedent owned a lot in Florida.We got a Florida attorney to handle everything in Florida from beginning to end (including recording fees, transfer taxes, and the required newspaper ad) for $950.00. A DVC transfer would have the extra $100 transfer fee, but around a thousand dollars, at least right now, is what it would cost to transfer your DVC contract if you died. The fees went up dramatically around July 1st. Prior to that, the attorney says he would have done it for $700.00. Just FYI.

Thank you for your reply, and disclaimer.

 

[milachy]

Originally posted by rinkwide
Boy, am I glad we put ours in the trust in the first place.

So you, as trustee of the trust, make the reservations?

Not to be grim but when you become the decedent how will your points work?I mean lets say you have 300 pts and have 4 children do they have to request use of the points from the contingency trustee?Or is it divided some other way via the trust.

I am young (32) and just looking to get all my things in order so that things will be hopefully less complicated later on in life.

thanks in advance,
michael

 

[DVC Grandpa]

I have a similar question using the example above… If you have everything in a trust but only one contract, I believe I have read that the contract cannot be split and the minimum contract is 150 points.

My wife and I have all of my points in our name with one of our kids as an Associate Member. He can administer things until the will ca be executed.

 

[rinkwide]

Originally posted by milachy
...lets say you have 300 pts and have 4 children...

Well, in my case it's 500pts, an only child and a 20 minute procedure at the urologist. Things are real simple.

Sorry.

 

[milachy]

No I dont have 4 children although that would be nice!I only have a 4 year old who wants to ask Santa for a baby brother for x-mas.Geez that will be fun explaining that



I need to find a nice girl before having any more....

I was wondering b/c I have 3 siblings and my parents have 300 pts..