Retitling a large Deed

ars13

Mouseketeer
Joined
Aug 5, 2019
Hello all,
I’m looking for advice on retitling our DVC deed.

Last year my wife and I decided to jump into DVC. When we told our family everyone else got excited and wanted to join too. We ended up buying around 800 point between 5 different “families.” The incentive was good and so we all went on the same deed. We knew that we would one day want to retitle onto different deeds.

It honestly has been working out well, everyone just uses their own contacts. However, I don’t have any reservations coming up so I thought it would be a good time to remove my contract. Also there is the added bonus that i would be able to transfer points to the other “families” for when we stay together on a trip (rather than just one family paying for the whole stay).

Does anyone have any advice on the process or can recommend an agent/facilitator.

Anything is appreciated!
 
Sorry Just to clarify because I didn’t explicitly say it. We bought 5 separate contracts on one deed, one contract for each family. I’m looking to remove my contract from the deed onto a new deed.
 
So you have 5 joint deeds and one joint membership. Wow, messy. Yes, I would want out of that ASAP before I got dragged into someone's divorce/bankruptcy/lawsuit.

The service recommended her often is LT Transfers. I've never used them, but the boards seem pleased.
 


It sounds like you bought 5 contracts with all the same owners to keep in one membership, but each family controls their own contract.

If that is what you did, then what you want is to change the title of your families contract to just you and remove the other owners.

It’s a simple process but the other owners have to agree to do it. You can not change the title without their approval/signature just like they can’t remove you without your approval.

If the other family members are in agreement, you simply contact MA and ask them that you want to remove owners from your contract. They will refer you to. Title agency to handle it.

You can also go through other agencies..some is LT transfers. There is a way to do it yourself but given how many families, it might be worth it to use someone.

Once the contract is in your own name, it will create a new membership with just you.

But, you will still be a legal owner of those other contracts.

For you to come off all of the others, you need to retitle each contract which will take more work.
 


You could probably also use the gratuitous transfer process. Since you are only changing names and not exchanging money.
 
You could probably also use the gratuitous transfer process. Since you are only changing names and not exchanging money.

That is really the same thing as changing the deed but as you say, without exchanging money.
 
This is exactly what we did
Then at this point, you need to talk to the others and all agree on how to proceed.

But as I said, everyone will have to be part of the process in order to change it up.

Going through a company will cost money so be sure that you all discuss that as well.

Hopefully, everyone is on board with what you want to do!

Good luck!
 
Then at this point, you need to talk to the others and all agree on how to proceed.

But as I said, everyone will have to be part of the process in order to change it up.

Going through a company will cost money so be sure that you all discuss that as well.

Hopefully, everyone is on board with what you want to do!

Good luck!
The gratuitous transfer process, you do all the work yourselves and is much cheaper than going through a lawyer, title company, or Transfer agent.

Agree with Sandisw completely. Make sure all parties involved agree and are on the same page.
 
The gratuitous transfer process, you do all the work yourselves and is much cheaper than going through a lawyer, title company, or Transfer agent.

Agree with Sandisw completely. Make sure all parties involved agree and are on the same page.

Whether you use a company or not, it’s considered a gratuitous transfer when no money changes hand. It has nothing to do with doing it on your own.

When I added my kids to my SSR deed, even though I went through First American, all the paperwork via DVC indicated I was doing a gratuitous transfer.

Doing it on your own is definitely cheaper but it’s still the same thing.
 
Doing it on your own is definitely cheaper but it’s still the same thing.
What is the process of doing it ourselves? If it’s just a couple of forms found on the internet I’d do that.

Yea, we are going to have to decide together how to proceed but I was hoping it’s just a bunch of docusigns for everyone to sign
 
What is the process of doing it ourselves? If it’s just a couple of forms found on the internet I’d do that.

Yea, we are going to have to decide together how to proceed but I was hoping it’s just a bunch of docusigns for everyone to sign

It may require signatures to be notarized because you are removing them as owners so they need to sign off on that…which is why you can’t do it without every owner agreeing.

When we added our adult kids, they didn’t need to have the signature notarized but my DH and I did because we were changing from just us as owners, to all 5 of us.

There is a thread here that explains it and I’ll see if I can find it. But it is not something done via Docusign.

ETA. Here it is. It talks about how to add names, but process would be similar as you are removing them from a contract and having yourself removed from the other contracts. But you’d need to do it for each one.

Thread 'Step By Step - How to Add Names to an Existing Contract (Gratuitous Transfer)'
https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/
 
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It may require signatures to be notarized because you are removing them as owners so they need to sign off on that…which is why you can’t do it without every owner agreeing.

When we added our adult kids, they didn’t need to have the signature notarized but my DH and I did because we were changing from just us as owners, to all 5 of us.

There is a thread here that explains it and I’ll see if I can find it. But it is not something done via Docusign.

ETA. Here it is. It talks about how to add names, but process would be similar as you are removing them from a contract and having yourself removed from the other contracts. But you’d need to do it for each one.

Thread 'Step By Step - How to Add Names to an Existing Contract (Gratuitous Transfer)'
https://www.disboards.com/threads/s...xisting-contract-gratuitous-transfer.3701707/
We just added our 18 yr old to our deed and updated our one of our daughter’s name since she’s now married. We used LT Transfers (around $250) and all existing owner signatues required a notary.

You do not have to go through ROFR any longer, so you can skip to step 2 in the referenced thread from Sandisw.

We submitted our notarized forms 1st week in June and it took about 2 months for oir son to be notified with his club id from Disney. We just received his “Welcome Home” letter from Disney today, 20 months after our original purchase. 🤣 I was concerned DH has purchased a small add on and he doesn't have add-on-itis like I do,
 
However, I don’t have any reservations coming up so I thought it would be a good time to remove my contract.
Here's the thing; you aren't just removing your contract. You need to retitle one contract into just your own name, and you need to retitle everyone else's contracts to remove your name. That means EVERYONE needs to retitle each deed. You might as well split them all up at the same time.
 
Whether you use a company or not, it’s considered a gratuitous transfer when no money changes hand. It has nothing to do with doing it on your own.

When I added my kids to my SSR deed, even though I went through First American, all the paperwork via DVC indicated I was doing a gratuitous transfer.

Doing it on your own is definitely cheaper but it’s still the same thing.

That was the point I was making. It can be done cheap without paying someone to do the work.

I wasn't implying that gratuitous transfer was anything else than that.
 
That was the point I was making. It can be done cheap without paying someone to do the work.

I wasn't implying that gratuitous transfer was anything else than that.

I misunderstood. I thought you were indicating that when you do it yourself it’s considered a gratuitous one and when you hire someone it’s not.

Retitling the deed absent if sale no matter how done is what makes it gratuitous!!

I think in OPs case with so many deeds needing to be done, it might be wise to hire someone vs trying to do 5 of them on your own.
 
What is the process of doing it ourselves? If it’s just a couple of forms found on the internet I’d do that.

Yea, we are going to have to decide together how to proceed but I was hoping it’s just a bunch of docusigns for everyone to sign

You need to prepare a new notarized deed with updated grantors and grantees.
Prepare Property Transfer Information Form from Controllers Office.
Send Deed, Form and money to Orange County Controller
Once recorded, send a copy of the recorded deed and a prepared copy of DVC New Owner Information Form to Member Administration.

Wait for you account to be updated.

Last reports say it takes about a month-ish for the whole process.
 

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