Retitling the deeds?

[psimon]

My parents want to add my wife and I to their deeds. I talked to DVC and they sent me paperwork to do it through them. The 3 contracts, through Disney, will cost $500.

Is there a simpler CHEAPER way?

All help would be greatly appreciated....

---Paul in Southern NJ

 

[a742246]

My parents want to add my wife and I to their deeds. I talked to DVC and they sent me paperwork to do it through them. The 3 contracts, through Disney, will cost $500.

Is there a simpler CHEAPER way?

All help would be greatly appreciated....

---Paul in Southern NJ

I believe "Louisianadisneyfan" is doing something like this on his own.
If you do a search of this forum you can probably contact him.

 

[Dean]

It's easy to do yourself for around $100 or under. Email DVC MS and ask they forward the email to member admin who will reply and send you a number of attachments. One is a request to transfer. IF you really want to change all 3 deeds, ask they put them all on ONE ROFR letter. You'll then need that and a deed for each and have them recorded. Recording fee, last I checked is $10 for page 1 and $8.50 for each page after that but each new set is a new page. Likely $74 to record assuming each set (3 deeds and 1 ROFR) ends up 2 pages. I did 4 and using a Word template for quit claim deed specific for FL, was able to get them each down to 1 page each. Make sure you have 2 witnesses in addition to the notary. The notary can be a witness but must sign as a witness separate from the notary documentation itself. Once you have the deed recorded, there is another form to complete and send with a copy of the recorded deeds. Keep an eye on the website for Orange country and you can print them off a few weeks before you'll get them in the mail. IF you don't want to do it yourself, I know of a company that will do it for around $75 plus closing. If you need that, email me directly and I'll pull it out when I get home (we're in the airport returning from Aruba). I hope this helps.

 

[fdwang]

Woah, Can you explain that in simpler terms?

 

[jmhazlett]

I had to do something similar when I went through a divorce and had to get everything transferred into just my name. I wound up calling one of the timeshare brokers and got them to do the paperwork for me. I think it ended up costing me about $200 for three contracts and took about 4 weeks. You do have to pass the ROFR but in a simple transfer that is not a problem. The thing that took the longest was getting the new deed recorded.

 

[LouisianaDisneyFan]

I believe "Louisianadisneyfan" is doing something like this on his own.
If you do a search of this forum you can probably contact him.

Yep, LouisianaDisneyFan did it on her own. Hubby and I purchased contracts in anticipation of the graduation of each of our children from college. The original contracts were purchased in just my name to make the process even simpler.

I don't know about you and your parents with regard to taxes, whether the property is financed, etc.... so I can't tell you definitively what to do. But, I can share what I did *in our situation*. PLEASE NOTE: I AM NOT AN ATTORNEY AND THIS IS NOT LEGAL ADVICE. I AM SIMPLY SHARING INFORMATION ABOUT HOW I AM CHANGING THE TITLE OF ONE CONTRACT FROM ME TO OUR DAUGHTER.

I FAXed the completed request for Waiver of ROFR back to Disney and followed with a phone call to verify that it had been received via FAX. Disney does not charge to complete the Waiver of ROFR in this situation. It can take up to a month to get the Waiver back from Disney.

In the meantime, I prepared a Warranty Deed. As I purchased this particular contract through resale, I already had an easy-to-follow warranty deed to use as a guide. If I hadn't kept a copy of this, I could have simply pulled up the recorded deed on the Orange County Comptroller's website for reference. I replaced the seller's name for the Warranty Deed with my name as "Grantor" and replaced my name in the original with our daughter's name as "Grantee." I was careful with this because THE NEW TITLE MUST EXACTLY MATCH THE NAME YOU SUBMIT TO DISNEY FOR THE WAIVER OF ROFR. I also changed all address information on the Warranty Deed, as the recorded documents were to be returned to me this time... and of course the addresses of the Grantee and Grantor had now changed from the original document as well. I had to sign this Deed in front of a notary and two witnesses. In Louisiana, typical notary fees for a deed are $25.00. In most other states, this fee is significantly lower.

Once I received the completed Waiver of ROFR back from Disney, the packet included additional instructions. I sent the executed Deed and the executed Waiver of ROFR to the Orange County Comptroller's office to be recorded. I also included a personal check for the recording fees. At the time of this writing, the recording fees are: $18.50 for the 2-page Waiver, $18.50 for a 2-page Deed, and $0.70 deed documentation fee (THIS $0.70 FEE APPLIES ONLY TO GIFTS or a purchase price under $100... it is based on the amount of the purchase price). So, the total fees I paid to OCC were $37.70.

The packet from Disney also included a form for my daughter to sign that acknowledged this is a GIFT and not a purchase of the DVC contract. I FAXed it to her to sign and she mailed the signed original back to me.

Once the Deed and Waiver are recorded, the OCC will send the recorded originals back to me. I will make copies of these recorded documents and then send these copies along with the original signed gift acknowledgement AND A COPY OF MY DAUGHTER'S DRIVER'S LICENSE as the new owner to the DVC office (the address is in the packet Disney sent). I will also send a check for any remaining balance for the current UY MFs (MFs must be paid in full before a title can be changed). Disney will then change the title in their records and send our daughter a Welcome Home package.

The total cost to change the title to our daughter's name was
Notary fee: $25.00
Orange County Comptroller: $37.70
Mailing fees (I used USPS Priority with delivery confirmation to/from OCC and Disney): $17.25

HTH!
Evey =)

 

[psimon]

Yep, LouisianaDisneyFan did it on her own. Hubby and I purchased contracts in anticipation of the graduation of each of our children from college. The original contracts were purchased in just my name to make the process even simpler.

I don't know about you and your in-laws with regard to taxes, whether the property is financed, etc.... so I can't tell you definitively what to do. But, I can share what I did *in our situation*. PLEASE NOTE: I AM NOT AN ATTORNEY AND THIS IS NOT LEGAL ADVICE. I AM SIMPLY SHARING ANECDOTAL EVIDENCE OF HOW I AM CHANGING THE TITLE OF ONE CONTRACT FROM ME TO OUR DAUGHTER.

I FAXed the completed request for Waiver of ROFR back to Disney and followed with a phone call to verify that it had been received via FAX. Disney does not charge to complete the Waiver of ROFR in this situation. It can take up to a month to get the Waiver back from Disney.

In the meantime, I prepared a Warranty Deed. As I purchased this particular contract through resale, I already had an easy-to-follow warranty deed to use as a guide. If I hadn't kept a copy of this, I could have simply pulled up the recorded deed on the Orange County Comptroller's website for reference. I replaced the seller's name for the Warranty Deed with my name as "Grantor" and replaced my name in the original with our daughter's name as "Grantee." I was careful with this because THE NEW TITLE MUST EXACTLY MATCH THE NAME YOU SUBMIT TO DISNEY FOR THE WAIVER OF ROFR. I also changed all address information on the Warranty Deed, as the recorded documents were to be returned to me this time... and of course the addresses of the Grantee and Grantor had now changed from the original document as well. I had to sign this Deed in front of a notary and two witnesses. In Louisiana, typical notary fees for a deed are $25.00. In most other states, this fee is significantly lower.

Once I received the completed Waiver of ROFR back from Disney, the packet included additional instructions. I sent the executed Deed and the executed Waiver of ROFR to the Orange County Comptroller's office to be recorded. I also included a personal check for the recording fees. At the time of this writing, the recording fees are: $18.50 for the 2-page Waiver, $18.50 for a 2-page Deed, and $0.70 deed documentation fee (THIS $0.70 FEE APPLIES ONLY TO GIFTS... it is based on the amount of the purchase price). So, the total fees I paid to OCC were $37.70.

The packet from Disney also included a form for my daughter to sign that acknowledged this is a GIFT and not a purchase of the DVC contract. I FAXed it to her to sign and she mailed the signed original back to me.

Once the Deed and Waiver are recorded, the OCC will send the recorded originals back to me. I will make copies of these recorded documents and then send these copies along with the original signed gift acknowledgement AND A COPY OF MY DAUGHTER'S DRIVER'S LICENSE as the new owner to the DVC office (the address is in the packet Disney sent). I will also send a check for any remaining balance for the current UY MFs (MFs must be paid in full before a title can be changed). Disney will then change the title in their records and send our daughter a Welcome Home package.

The total cost to change the title to our daughter's name was
Notary fee: $25.00
Orange County Comptroller: $37.70
Mailing fees (I used USPS Priority with delivery confirmation to OCC, Disney and daughter): $17.25

HTH!
Evey =)

Thank you for the step by step. I appreciate it.

In our case

1. There is no lien. It is completely paid for.
2. The points are in three pieces.

I realize you are not an expert are a DVC employee but maybe you know...

Can I do all 3 contracts on one ROFR?

Is it really that easy to copy the existing deed? I have copies of the deed from OCC. Since they are in PDF format, do I just create them word for word in Word (sorry for that clumsy sentence )?

Thanks...


---Paul in Southern NJ

 

[LouisianaDisneyFan]

Thank you for the step by step. I appreciate it.

In our case

1. There is no lien. It is completely paid for.
2. The points are in three pieces.

I realize you are not an expert are a DVC employee but maybe you know...

Can I do all 3 contracts on one ROFR?

Is it really that easy to copy the existing deed? I have copies of the deed from OCC. Since they are in PDF format, do I just create them word for word in Word (sorry for that clumsy sentence )?

Thanks...


---Paul in Southern NJ

The form that Disney sent to me for the request for Waiver of ROFR has space for two properties already on the form. I'm assuming they sent you the exact same form. I would think you could retype this form to include all three properties rather than just two. That would save you recording fees with Orange County, because you would have two pages to record for all three contracts rather than three separate Waivers (6 pages) to file. OCC charges based on the number of pages you have to record.

It was definitely easy for me to just copy the Warranty Deed from my purchase. It had the correct legal description for each property and was worded appropriately. If I had not originally obtained title insurance with my purchase, I'm not sure I would have been comfortable with all of the language in the Warranty Deed. If I had not purchased title insurance with my purchase, I probably would have used a Quit Claim Deed to transfer the title instead of a Warranty Deed. My only question mark when preparing the deed was the section that listed "$10.00" as the compensation for my original purchase. Certainly, I paid a lot more than $10.00 originally, and the Deed Documentation Tax I paid for my original purchase was correctly paid based on the actual sales price. So, it was a little confusing what I should put on the new Deed for our daughter. I called a few attorney friends and asked why the original Deed had "$10.00" listed versus the true amount we paid. I also looked at a lot of other recorded deeds on the OCC site and back at a Quit Claim deed we had been provided for a former timeshare that we gifted back to the developer. They all had "$10.00" listed as the compensation amount... even the Quit Claims! So, I also called the OCC and asked the clerk why it seemed like EVERY deed I pulled up on their site listed the same thing... $10.00 compensation. Apparently, this is standard practice now for Deeds. I went ahead and called back to DVC to make sure that if our Deed said $10.00, they wouldn't suddenly say that it wasn't a true gift (afterall, $10.00 is not $0.00) and the CM confirmed for me that filing with a listed compensation of $10.00 on the deed was standard and accepted practice and would not result in the transfer being denied by Disney.

HTH!
Evey =)

 

[LouisianaDisneyFan]

P.S. - I also looked at a lot of websites that offer advice on preparing your own Warranty Deeds, and they all also recommended using "$10.00" as the compensation listed on the deed for transfers that are actually gifts. Weirdness!

 

[Dean]

I realize you are not an expert are a DVC employee but maybe you know...

Can I do all 3 contracts on one ROFR?

Is it really that easy to copy the existing deed? I have copies of the deed from OCC. Since they are in PDF format, do I just create them word for word in Word (sorry for that clumsy sentence )?

Thanks...


---Paul in Southern NJ

They can do all 3 contracts on one ROFR, I did 4. Originally they sent me 4 separate ones, 2 pages each, but with the recording costs I asked if they could condense them to one page each but instead they combined them all into one of 2 pages, even better. You could copy the deed info if you wanted and do your own Warranty deed if you want, however, I was uncomfortable with that option because IMO it generates more legal risk in case something isn't perfect. The only issue with a quit claim is that I've been told most title companies won't recognize a quit claim deed but since it's my opinion that buying title insurance is a waste in ALMOST all timeshare situations, that didn't bother me in the least.

I would save the mailing and just do it regular mail since the chance of it getting lost is small and the worse is you'd have to print them out again and resign them. They will mail it back to you regular mail. Also, you should be able to get notary for free in the US at most CU, banks and often at places of work. I also wouldn't put a dollar amount on it if it's a gift or simply a name change. The reason for the $10, which is what DVC does, is to reduce recording fees, not because having a value is better. If there is no money changing hands, I'd put $0.00, which is what I did. Technically putting a dollar amount on it moves it from automatic ROFR to a sale and DVC could take the stance that they have ROFR at $10, technically they would be correct though I doubt they'd be so strict in such a situation.

Orange Country FAQ on Deed's

 

[Malaguti Ball Clan]

Woah, Can you explain that in simpler terms?

Yeah, as in "whats Dean doing returning from Aruba" must be nice

 

[Dean]

Woah, Can you explain that in simpler terms?

Sorry, don't know what you want.

Yeah, as in "whats Dean doing returning from Aruba" must be nice

The reality is that there isn't enough time and money for all I want to do and my partner would have hired a hitman had I stayed.

 

[LouisianaDisneyFan]

I would save the mailing and just do it regular mail since the chance of it getting lost is small and the worse is you'd have to print them out again and resign them. They will mail it back to you regular mail. Also, you should be able to get notary for free in the US at most CU, banks and often at places of work. I also wouldn't put a dollar amount on it if it's a gift or simply a name change. The reason for the $10, which is what DVC does, is to reduce recording fees, not because having a value is better. If there is no money changing hands, I'd put $0.00, which is what I did. Technically putting a dollar amount on it moves it from automatic ROFR to a sale and DVC could take the stance that they have ROFR at $10, technically they would be correct though I doubt they'd be so strict in such a situation.

Orange Country FAQ on Deed's

On the $10 issue, I don't know the actual reason why this is now "standard"... but it's not to reduce recording fees. If you look back at your recorded documents from direct purchases, the Deed Doc Tax that is listed in the top corner by OCC does indeed match the OCC sliding scale for tax due on the actual purchase price. On my recorded deed for 160 BLT points, the compensation listed in the deed by Disney was $10.00 and the Deed Doc Tax that was paid to OCC was $134.40. If the tax had been paid only for a price of $10.00, then the Deed Doc Tax reflected on the recorded document would have been $0.70.

 

[Dean]

On the $10 issue, I don't know the actual reason why this is now "standard"... but it's not to reduce recording fees. If you look back at your recorded documents from direct purchases, the Deed Doc Tax that is listed in the top corner by OCC does indeed match the OCC sliding scale for tax due on the actual purchase price. On my recorded deed for 160 BLT points, the compensation listed in the deed by Disney was $10.00 and the Deed Doc Tax that was paid to OCC was $134.40. If the tax had been paid only for a price of $10.00, then the Deed Doc Tax reflected on the recorded document would have been $0.70.

I can't think of any reason and as I said, it technically voids the ROFR conditions.

 

[LouisianaDisneyFan]

I can't think of any reason and as I said, it technically voids the ROFR conditions.

So, the question was driving me a little nuts... and I've been Googling trying to find an answer. I couldn't find a specific answer to why $10.00 (which seems so arbitrary) was chosen, but I did find a better discussion of what must be included in the verbage...

http://books.google.com/books?id=w5...d conveyance in florida consideration&f=false

This is from Florida Real Estate: Principles, Practices, and License Laws...

The deed must state that consideration was given by the grantee to the grantor. The consideration can be either of the following:

*Valuable consideration - money or its equivalent

*Good consideration - one not expressed in monetary terms, such as love and affection

In Florida, the actual amount of consideration does not need to be stated. Often, a nominal amount is stated, such as, "One dollar and other good and valuable consideration."

HTH!
Evey =)

 

[a742246]

Yep, LouisianaDisneyFan did it on her own. Hubby and I purchased contracts in anticipation of the graduation of each of our children from college. The original contracts were purchased in just my name to make the process even simpler.

I don't know about you and your parents with regard to taxes, whether the property is financed, etc.... so I can't tell you definitively what to do. But, I can share what I did *in our situation*. PLEASE NOTE: I AM NOT AN ATTORNEY AND THIS IS NOT LEGAL ADVICE. I AM SIMPLY SHARING INFORMATION ABOUT HOW I AM CHANGING THE TITLE OF ONE CONTRACT FROM ME TO OUR DAUGHTER.

I FAXed the completed request for Waiver of ROFR back to Disney and followed with a phone call to verify that it had been received via FAX. Disney does not charge to complete the Waiver of ROFR in this situation. It can take up to a month to get the Waiver back from Disney.

In the meantime, I prepared a Warranty Deed. As I purchased this particular contract through resale, I already had an easy-to-follow warranty deed to use as a guide. If I hadn't kept a copy of this, I could have simply pulled up the recorded deed on the Orange County Comptroller's website for reference. I replaced the seller's name for the Warranty Deed with my name as "Grantor" and replaced my name in the original with our daughter's name as "Grantee." I was careful with this because THE NEW TITLE MUST EXACTLY MATCH THE NAME YOU SUBMIT TO DISNEY FOR THE WAIVER OF ROFR. I also changed all address information on the Warranty Deed, as the recorded documents were to be returned to me this time... and of course the addresses of the Grantee and Grantor had now changed from the original document as well. I had to sign this Deed in front of a notary and two witnesses. In Louisiana, typical notary fees for a deed are $25.00. In most other states, this fee is significantly lower.

Once I received the completed Waiver of ROFR back from Disney, the packet included additional instructions. I sent the executed Deed and the executed Waiver of ROFR to the Orange County Comptroller's office to be recorded. I also included a personal check for the recording fees. At the time of this writing, the recording fees are: $18.50 for the 2-page Waiver, $18.50 for a 2-page Deed, and $0.70 deed documentation fee (THIS $0.70 FEE APPLIES ONLY TO GIFTS or a purchase price under $100... it is based on the amount of the purchase price). So, the total fees I paid to OCC were $37.70.

The packet from Disney also included a form for my daughter to sign that acknowledged this is a GIFT and not a purchase of the DVC contract. I FAXed it to her to sign and she mailed the signed original back to me.

Once the Deed and Waiver are recorded, the OCC will send the recorded originals back to me. I will make copies of these recorded documents and then send these copies along with the original signed gift acknowledgement AND A COPY OF MY DAUGHTER'S DRIVER'S LICENSE as the new owner to the DVC office (the address is in the packet Disney sent). I will also send a check for any remaining balance for the current UY MFs (MFs must be paid in full before a title can be changed). Disney will then change the title in their records and send our daughter a Welcome Home package.

The total cost to change the title to our daughter's name was
Notary fee: $25.00
Orange County Comptroller: $37.70
Mailing fees (I used USPS Priority with delivery confirmation to/from OCC and Disney): $17.25

HTH!
Evey =)

I knew you would give an excellent description on how to change the deeds.
Sorry for addressing you as a him. Good job!

 

[LouisianaDisneyFan]

Sorry for addressing you as a him. Good job!

No problem! I'm happy to help!

 

[dmancuso]

Can't legalzoom help?

 

[Dean]

Can't legalzoom help?

All they really can provide is the forms. A better but similar choice would be the Timesharing Today resale packet.

 

[LouisianaDisneyFan]

All they really can provide is the forms. A better but similar choice would be the Timesharing Today resale packet.

I agree. TSS and a few of the other resellers offer this service. Also, Disney DVC now offers this service for a fee as well. If you want help (for a fee) with the paperwork, I believe these alternatives are much better than what is offered at legalzoom.