Transferring Ownership...

[danimaroo]

I'm sure this has been asked before, but I did some researching and didn't come up with much, so I'm going to ask here...

Our in-laws are considering letting us (DH and me) take over their DVC ownership. It has been paid off in terms of the original price, but the fees are becoming something that they're not really wanting to continue to pay (they do not travel to Disney nearly as much anymore) and DH and I are at a point where we visit Disney World more frequently than them and are also in the position to pay for the yearly fees. It's a way to keep the DVC membership in the family and for everyone to still be able to go, etc.

That being said, what exactly happens when a family member wants to transfer the membership to another family member? What is the process like?

Even if it's just a link to a place where I can read up about this, that would be excellent. I appreciate any advice/answers that are thrown in my direction.

 

[disneynutz]

Have the owners contact Member Administration for the necessary paperwork.

Bill

 

[dburg30]

I understand what you are saying bill, we are about to do the same thing, maybe a question can be answered though.. if there is an existing reservation on the points, can it stay on there, or does that all get canceled etc etc?? ie you had a res for nov.. you transfer it now.. will the reservcation get cancelled, or will it stay if you want it to?

 

[chalee94]

if there is an existing reservation on the points, can it stay on there, or does that all get canceled etc etc?

any existing reservations will be canceled if the contract is sold. wait till after the stay to transfer ownership.

 

[disneynutz]

I understand what you are saying bill, we are about to do the same thing, maybe a question can be answered though.. if there is an existing reservation on the points, can it stay on there, or does that all get canceled etc etc?? ie you had a res for nov.. you transfer it now.. will the reservcation get cancelled, or will it stay if you want it to?

That would again be a question for Member Administration. I don't know for sure how they handle family transfers and I would hate to give you incorrect information.

Bill

 

[dburg30]

That would again be a question for Member Administration. I don't know for sure how they handle family transfers and I would hate to give you incorrect information.

Bill

Thanks.. Understand fully.

 

[dclfun]

I was tod that there's a $495 fee to do a transfer.

 

[luckyman_apd]

I was tod that there's a $495 fee to do a transfer.

I gotta imagine that $495 is waaaay Cheaper than the prices on the resale market

I know that it must be common and easy to do. With the amount of times I've called over the last few days checking to see if I was in the system, it was one of the options on the automated menu system.

 

[a742246]

This is from another tread with the same question. This answer from LoiuisanaDisneyFan can help you.

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

 

[Dean]

any existing reservations will be canceled if the contract is sold. wait till after the stay to transfer ownership.

Not true for actual family transfers. I know for certain they don't as long as one of the current names stays on the deed. I suspect they wouldn't have to cancel for the situation as described as well, I suspect gift vs sale would be the determining factor.

This can be done for around $50 for OC/WDW, maybe a little more for trusts, multiple contracts and other locations.

 

[dburg30]

Yea.. DVC said they can keep the reservations in certain cases, if that's what is desired.

 

[Dean]

Yea.. DVC said they can keep the reservations in certain cases, if that's what is desired.

I've done it. However, if it's a sale and not a gift, I'm pretty sure you'd have problems. BTW, it'd be a violation of FL statues to put one set of criteria on the contract sent to DVC than was actually the case. I'm sure it's done, but I'm just saying.