LaNina72
Mouseketeer
- Joined
- Mar 8, 2004
- Messages
- 273
The $475 would be for a full closing, it may or may not include a title search which you do not need. You also do not need the escrow. There are companies that will do it for less, often much less. However, all you need is 3 fairly simple steps. ROFR from DVD, deed prep and deed recording. The first is very easy, the second more simple than most would like to make it out and the last fairly simple as well. If you're comfortable with a quit claim deed, which may make getting title insurance on selling more difficult or not possible, I think it's all simple. I've since heard that OC has a new form to complete which also shouldn't be an issue in this situation as there is no money changing hands (they used to have a different form which they stopped about 4 years ago).
As for getting the deed completed, for a quit claim, all you need is a FL specific quit claim deed template, have it completed with the names and legal description then notarized for all signatures ("sellers" only go on the form) and have TWO witnesses one of which can be the notary but they must sign separately as a witness. If you want a warranty deed, you could use the current one as a template or get one of the services that will do deed only or simply use one of the cheaper closing services. My point about the deed was that if you have everything else ready (deed, other OC required forms, any fees and the process down), you would be ready to send it on for the next step when you get the ROFR back.
Do realize if you add your brother (I'm assuming he's at least 18), the ownership will become legally part his and his heir's. If he has any financial issues or passes away prior to the RTU ending, it could cause problems. I added my daughter to a 100 pt (actually 4 linked 25 pt) contract but not my larger one to try to balance the 2 issues. If you want him to have benefits, you might consider a 25 point add on and then do the transfer on that only. It would make it a separate contract but if you don't plan transfers routinely, it should not be a major issue.
Fantastic! It is pretty simple... I pulled the deed from my purchase as well as another deed to find out what needs to "change" and what stays the same. Dean you are right that the three steps you outline are much easier then originally thought.
As for adding my brother (he is over 18, no heirs), the existing contract is for 56 points and there are currently 3 other folks on it. I'm in the process of looking for a much larger BWV contract and thought it would be better for the reasons you outline to have him on the smaller contract rather then the larger contract.
But with your help it has made the process fairly stress free... but ask me again in a few weeks and I may have a different thought.