Transferring Contracts into a Trust

[forevercruising]

Hello, all!

I have read as many previous posts as I could find, but I'm wondering if any of you have recently gone through the process of transferring your DVC deed into a Living Trust. We are currently preparing a Revokable Living Trust and would appreciate the STEP-by-STEP list of things we need to do and who to contact to assist us in doing them!

Here is our situation: We own at SSR, for which we possess the deed (it is paid off). We also own at VGC, but are paying through Disney financing, so we are aware that, until that contract is paid off, we are unable to transfer the VGC contract into the trust. So, we are basically focusing on SSR only right now. We live on the West Coast, so we know essentially nothing about the Florida procedures.

Any reports, especially from those who have literally gone through the process we are beginning, would be much appreciated!

Thank you, all!

 

[disneynutz]

Cut to the chase and call DVC Administration for the information. I don't know if I would want legal advise for fellow DISers.

 

[forevercruising]

Cut to the chase and call DVC Administration for the information. I don't know if I would want legal advise for fellow DISers.

That certainly is the next item on my "to do" list, of course! However, when I learned that I would need to process the paperwork myself for the transfer, DVC offices were already closed; so, I posted this thread requesting information from the next best thing to Member Administration -- DISboarders!! I love that the DISboards never close!

In addition, I have found that requesting feedback from those on the "owner" side of DVC is very enlightening and often reminds me of questions that I would not think to ask while completing tasks such as this.

Feedback, especially from those who have literally completed the steps we will be going through, will simply add a different perspective to the process.

I am not asking for legal advice; I am simply asking for a review of other DVCers' experiences, so that we are fully prepared to be successful in this endeavor!

 

[rmonty02]

I definitely do not have the answer but would love to know what happens when you go through it. I think it would be similar to adding a person to the deed Goodluck!

 

[Figment2]

Did that last year. There is a form from Admnistration to complete (ROFR form but since it's going from you to a living trust there's no problem). You will also need a trust certification from your attorney (Disney provides the letter that needs to be put on his/her stationary).

It was a relatively painless process. I was able to keep my original member ID and when I added on all I had to do was certify that the terms of the trust were still in effect.

Cyn

 

[robert@dvcstore]

Forevercruising,

Can I suggest that you contact the title company that we use for all of our DVC closings sold from The Timeshare Store. They will be happy to give you information on transferring your DVC membership into a trust. They do this all the time and the cost is minimal.

Contact Magic Vacation Title at Nancy nkirsch@mvtservice.com. She will be happy to answer any of your questions.

Robert

 

[forevercruising]

Forevercruising,

Can I suggest that you contact the title company that we use for all of our DVC closings sold from The Timeshare Store. They will be happy to give you information on transferring your DVC membership into a trust. They do this all the time and the cost is minimal.

Contact Magic Vacation Title at Nancy nkirsch@mvtservice.com. She will be happy to answer any of your questions.

Robert

Thank you, Robert, for the recommendation! I have already received a response from Nancy. I like quick service!

 

[SuzanneSLO]

. . .You will also need a trust certification from your attorney (Disney provides the letter that needs to be put on his/her stationary). . . .Cyn

We did this 2 years ago and at that time, we did not need a certification from our attorney. We just needed to notify DVC in writing of out intent to transfer to our trust without consideration. It was all spelled out in an instruction letter that the DVC accounting department sends to you when you let them know you plan to do this.

If you don't want to prepare and record your own deed, then using a third party service is probably best. -- Suzanne