Selling points to a relative without using a reseller?

[Dennis the WDW Menace]

My BIL wants to buy into DVC and I thought I could sell him some of my points. Can I do this using a quiet claim deed without having to go through the cost of a reseller or title co. I know I will have to contact DVC concerning the details of the purchase to give them first right of refusal but do I need to go through a very expensive legal process because we have already come to terms on the price, costs, ect.

 

[Doctor P]

It's not clear from your post, so I apologize if you already know this: you will only be able to sell whole contracts (e.g., if you have a three hundred point contract you must sell the whole thing--it cannot be split up). I will defer answers to the other questions to some of the legal and real estate eagles on this board.

 

[Caskbill]

We purchased in 1993 and shortly after that my brother, who had previously wanted to buy DVC, but wouldn't have the time to use the minimum number of points each year, asked us to add on to our contract for him, so we did an 85 point contract add-on in our name, and basically my brother got to use those points (He paid for them). Trusting, wasn't he?

A few years later, when he was ready for more points, we checked with our advisor, and Disney actually did the transfer from our name to his. The only cost was the closing fees associated with the 'sale'. Disney handled everything internally just as if it were their sale. Because we were staying within the family, Disney waived it's right of first refusal.

The only other condition was that my brother also bought additional points so that his total then met Disney's newly established 150 point minimum.

Remember that the 85 point add-on was a separate contract originally, so it could be sold. If you have more than one contract, you could probably sell one of them. But if all your points are on one contract, I don't think you can split it up and sell only part of it.

 

[Dennis the WDW Menace]

Thank you for your replies. I appreicate the help. I will call MS and see what they can do. The contract that I am selling to my BIL is about 200 points so it will meet the min. contract.

 

[spruce]

DVC won't give you much help with doing a quit claim but the person I spoke with refered me to Orange County recorder of deeds. She explained the process. If Disney does it for you, you will need tittle insurane. Do it yourself and you won't need it...spruce