ROFR in a DIVORCE???

[ILoveMyDVC]

I have to say I was shocked when I discovered that Disney had ROFR over my request to have my ex-husband's name removed from the deed. I somehow missed this 11 years ago when I signed the contract. Can you imagine the outcry if Disney scooped up members' points under this circumstance?
Perhaps the paperwork is clear now but if it isn't, it should be spelled out very, very clearly that you could lose your membership should you need to remove someone's name from the deed.
I should add that no money changed hands - it was not a 'buyout' situation.

 

[Chuck S]

Generally, if no money changes hands, as in the case of divorce or death of a co-owner, Disney automatically waives the ROFR, you simply need to contact them and let them know what is going on so they can issue the specific waiver. Under our contracts, it still must be submitted, but I would be very surprised if Disney ever exercised ROFR in that type of situation.

 

[RobDoc]

In order for any DVC deed to be recorded, it must have the ROFR waiver included. In the case of a divorce, it has normally been a formality, but the legal requirement is still there in order for closing to take place.

We've never had a report on this forum of Disney ever exercising ROFR in a divorce situation.

 

[ILoveMyDVC]

Disney did indeed issue the ROFR but I was still shocked that I had to request it.
Now I just have to figure out how to get my ex not only to sign the document but with 2 witnesses and a notary without having to hire a SECOND attorney here to get a court order compelling him to do it.
Divorce...the gift that keeps on giving

 

[spiceycat]

so sorry you are going through this.

another good reason to kept the contracts in your name only. If your spouse wants one - they can buy their own....

 

[Cruelladeville]

You are fortuneate that the court allowed you to keep your contract. My DD was ordered to sell her's to satisfy that debt. I had been paying the dues and payments for two years prior to that, while she was waiting for a court date. In order for me to recover my money, I had to buy that contract. It was fortuneate for us that her former DH was not on the contract, so we avoided the problem with signatures. As her parent, ROFR was waived for us, and DVC even helped me with the paperwork. Thank goodness!

 

[Dean]

In order for any DVC deed to be recorded, it must have the ROFR waiver included. In the case of a divorce, it has normally been a formality, but the legal requirement is still there in order for closing to take place.

We've never had a report on this forum of Disney ever exercising ROFR in a divorce situation.

There's no actual requirement for the ROFR waiver to be recorded. Actually there's no requirement for DVC to give one if they pass on the ROFR. Simply that process has been the tradition, nothing more. It does make it simpler though.

 

[RobDoc]

There's no actual requirement for the ROFR waiver to be recorded. Actually there's no requirement for DVC to give one if they pass on the ROFR. Simply that process has been the tradition, nothing more. It does make it simpler though.

Are you suggesting that a deed can be recorded without first having passed ROFR?

I realize that ROFR is not part of the deed recorded with county, but am positive the deed cannot be recorded if the contract has not passed ROFR first (either by DVC purchasing the contract, DVC informing the seller they are passing or allowing the 30 days to expire).

 

[JimC]

ROFR language is often quite broad, however most ROFR holders make reasonable exceptions provided their ROFR continues after the exception is granted. Those exceptions generally are for intra-family transfers (death, divorce, gifts and the like).

 

[Dean]

Are you suggesting that a deed can be recorded without first having passed ROFR?

I realize that ROFR is not part of the deed recorded with county, but am positive the deed cannot be recorded if the contract has not passed ROFR first (either by DVC purchasing the contract, DVC informing the seller they are passing or allowing the 30 days to expire).

I'm saying that there is no legal requirement for one to have a ROFR waiver to close or record and certainly no requirement it be recorded. All one has to do is to alert DVC they are selling with at least 30 days warning prior to closing. Once that 30 days has passed, one can close as planned with or without ROFR in hand. Fortunately DVC choses to make it much more simple that just letting the time expire but that is different than the paperwork being a legal requirement.