weird question..

[dburg30]

I'll try to explain. If you have the deed transferred out of the original owners name and the new deed filed, is there a certain time that you have to transfer the DVC contract? What if the contract doesnt get transferred? Is the actual value in the deed, is that the actual 'value' or is the contract? Dont read too much into it, it's just a question my mom and I were having. Basically need to transfer the property to another person, but that person has no desire to deal with the DVC part of it.

 

[drusba]

It is the new deed that is issued, and a copy of which is filed with the comptroller's office, that results in the actual transfer of the property. You do not do a separate transfer of the original owner's sale contract. In other words, the person who is named as the new owner in the new deed is the one who owns the property and anyone holding an earlier contract has nothing.

 

[dburg30]

The new deed has been filed, but the ROFR, copy of the deed, and the transfer request to DVC to complete the actual DVC part of it right? Is there a period of time to complete that? Or could it just be left alone and all the current log in information, reservations, etc etc stay the same? Not sure if I am explaining my question correctly. Just because the new deed is filed in the new owners name, they still dont have the DVC part, from what I understand, until the request to transfer paperwork is sent to disney?

 

[KAT4DISNEY]

so you mean the ROFR part etc was skipped and a new deed filed prior to that?

 

[dburg30]

wasnt skipped, ROFR was aquired.

The steps I thought that were required were

ROFR, if you dont get that, you cant do anything.
title search, mortgage paid off done
new deed filed, ROFR filed

then a copy of the new deed, ROFR and request to transfer needs to be sent to Disney.

If that last step isnt done what happens?

 

[disneynutz]

The deed is for a piece of a actual building called a unit, the size is based on the number of points.

Disney through ROFR has the right to purchase the contract for the unit.

If they don't want it, the new deed is filed with the county clerk in the new owners names.

Disney then sets up the member account and adds the points.

Agreement to purchase
Estoppal from Disney
Contract
ROFR
Title search
Closing
Deed to County Clerk
Account
Load points
Make reservation

Bill

 

[dburg30]

but if the request to transfer isnt sent to disney,with a copy of the new deed? how do the last 3 steps happen? Or if the new deed is filed, does Disney automatically get notice of that? this was a gratuitous (sp?) transfer also. The title company says they can finish up the transfer, but it's not part of what they did?

 

[drusba]

If ROFR was followed, it is over once the new deed is issued. If the sale went through a closing company, the closing company would not have even gone through with the closing absent a waiver of ROFR.

You seem to have an incorrect sequence of usual events, which actually are:

1. Prior owner and buyer agree to a contract for sale.

2. It is that contract (not the new deed) that must be provided to DVD at least 30 days before the date of closing. If it is a gift transfer, DVD still needs to be notified for ROFR which, if it is a gift, it will waive. However, with a gift there is usually no broker involved and thus the parties involved, particularly the gift-giving owner must provide the notice.

3. DVD then has up until just before closing to exercise ROFR or waive it (and for a gift it will waive it absent a belief there might be fraud in that there is really a sale going on). In the interim there will also be a title search if title insurance is being purchased. The title search will show clear title (most likely) with the exception of not yet having the waiver of ROFR which must occur for the title policy to be issued at time of closing.

3. Once ROFR is waived, the closing goes forward and it is at time of closing that a new deed is issued and sent to the comptroller's office for recording. If you are going through a title company that knows what it is doing, it won't close that sale absent the waiver of ROFR.

4. The new deed (and other closing information showing the purchasers address and phone) is then provided to DVD after closing so the new owner can be added to the DVC system. If it is a gift transfer, the gifdt-giver or the new owner may need to provide Disney with that info (it is usually something the broker sends when there is a sale but when there is no broker, such as would usually be the case with a gift transfer, the title company may also do it upon request).

 

[dburg30]

then I am getting conflicting information from the title company, which does lots of DVC stuff. and again if it matters this is a gratuitous transfer if that matters. I was just told by the title co that i would need to send copies of the new deed, rofr and new information to have that entered into the DVC site.

 

[disneynutz]

then I am getting conflicting information from the title company, which does lots of DVC stuff. and again if it matters this is a gratuitous transfer if that matters. I was just told by the title co that i would need to send copies of the new deed, rofr and new information to have that entered into the DVC site.

Contact Disney and see what they require.

Bill

 

[drusba]

Call DVD and explain whatever has happened. If the evidence of gift is simply a copy of the deed and there has not yet been a closing then yes, sending the deed, explaining the gift and asking for ROFR would be a possible course of action, although there should not have been a closing or filing of the deed with the comptroller's office before seeking ROFR (DVD actually can provide forms to be used in the gift situation).

 

[dmunsil]

I think people are confused about the OP's question. He's not asking what happens if you skip ROFR. His transfer went through ROFR. He's asking what if you file the deed but don't tell Disney and don't send them the new deed.

My guess: Disney will blithely continue to treat the previous owner as the actual member. Until they are informed of the ownership change, they are oblivious. They're not out there checking the recorded deeds looking for DVC-related ones that they don't know about.

In a normal situation, the new owner would always want to tell Disney they are the new owners. So this is a weird situation. Why would you want Disney to not know about the new ownership? Moreover, why would the new owner not want to get the benefits of their ownership?

 

[dburg30]

I think people are confused about the OP's question. He's not asking what happens if you skip ROFR. His transfer went through ROFR. He's asking what if you file the deed but don't tell Disney and don't send them the new deed.

My guess: Disney will blithely continue to treat the previous owner as the actual member. Until they are informed of the ownership change, they are oblivious. They're not out there checking the recorded deeds looking for DVC-related ones that they don't know about.

In a normal situation, the new owner would always want to tell Disney they are the new owners. So this is a weird situation. Why would you want Disney to not know about the new ownership? Moreover, why would the new owner not want to get the benefits of their ownership?

First off, YES, you get my question! Now the highlighted one, due to an issue, the deed was allowed to be transferred to a relative so our family could keep using it, but they want zero to do with the administration of the points etc etc. They just didnt want it to have to be sold / given back. So I was more curious about what would happen if the 'property' was deeded to them, but the internal DVC transfer wasnt done.

 

[dmunsil]

First off, YES, you get my question! Now the highlighted one, due to an issue, the deed was allowed to be transferred to a relative so our family could keep using it, but they want zero to do with the administration of the points etc etc. They just didnt want it to have to be sold / given back. So I was more curious about what would happen if the 'property' was deeded to them, but the internal DVC transfer wasnt done.

I think you need to talk to a lawyer. If the "issue" is a settlement, court order, bankruptcy, etc. you may already be doing something wrong if you transfer property to another party to avoid having it part of the settlement. If you transfer that property but in fact are continuing to use it yourself, it could be considered a sham transfer and that could have legal ramifications.

But that aside, you may find that the title company won't do what you want. They may have a legal obligation to inform Disney about the change in ownership. To get the effect you want you might have to do the retitling yourself and leave out the last step. And then if/when Disney does find out, they might be really unhappy that they weren't informed of an ownership change.

 

[dburg30]

I think you need to talk to a lawyer. If the "issue" is a settlement, court order, bankruptcy, etc. you may already be doing something wrong if you transfer property to another party to avoid having it part of the settlement. If you transfer that property but in fact are continuing to use it yourself, it could be considered a sham transfer and that could have legal ramifications.

But that aside, you may find that the title company won't do what you want. They may have a legal obligation to inform Disney about the change in ownership. To get the effect you want you might have to do the retitling yourself and leave out the last step. And then if/when Disney does find out, they might be really unhappy that they weren't informed of an ownership change.

It is part of a bk, but it was allowed for in the confirmed plan. As far as everything but the last step it is 100% approved. The new deed is already filed / recorded.

 

[Dean]

The new deed has been filed, but the ROFR, copy of the deed, and the transfer request to DVC to complete the actual DVC part of it right? Is there a period of time to complete that? Or could it just be left alone and all the current log in information, reservations, etc etc stay the same? Not sure if I am explaining my question correctly. Just because the new deed is filed in the new owners name, they still dont have the DVC part, from what I understand, until the request to transfer paperwork is sent to disney?

If I'm understanding correctly, all that's not been done is to send the last transfer form and copy of the recorded deed to DVC. If that's the case, DVC will not change the ownership and you'll be in the worse of all situations, responsible for dues but not owning anything. After a while DVC could certainly refuse to complete the transfer, you'll have to ask them about it. I'd get this done as soon as possible for all parties sake. If you have the buyers signature on all applicable papers you can send it in even if they've changed their mind. Of course the buyers doesn't have to sign the deed. They don't need the ROFR back.

wasnt skipped, ROFR was aquired.

The steps I thought that were required were

ROFR, if you dont get that, you cant do anything.
title search, mortgage paid off done
new deed filed, ROFR filed

then a copy of the new deed, ROFR and request to transfer needs to be sent to Disney.

If that last step isnt done what happens?

but if the request to transfer isnt sent to disney,with a copy of the new deed? how do the last 3 steps happen? Or if the new deed is filed, does Disney automatically get notice of that? this was a gratuitous (sp?) transfer also. The title company says they can finish up the transfer, but it's not part of what they did?

If you used a company for the transfer, they would be responsible for these last steps. If you're saying they did the transfer and were paid for it but didn't complete it, I'd give them some free publicity.

First off, YES, you get my question! Now the highlighted one, due to an issue, the deed was allowed to be transferred to a relative so our family could keep using it, but they want zero to do with the administration of the points etc etc. They just didnt want it to have to be sold / given back. So I was more curious about what would happen if the 'property' was deeded to them, but the internal DVC transfer wasnt done.

This is very curious. Hopefully this wasn't done to bypass government regulations related to medicaid or bankruptcy or similar as they can have a look back as much as 5 yrs from what I understand and take such matter very seriously bot financially and criminally at times. Talk to DVC, they're likely going to send you to a lawyer for such a convoluted situation. If you complete the transfer, they will cancel any pending reservations. From a technical standpoint, getting a new deed and having it recorded without doing anything else with DVC might be the best option but that's shooting from the hip and you'll likely need a FL based (assuming it's a FL resort) RE lawyer.

 

[dmunsil]

It is part of a bk, but it was allowed for in the confirmed plan. As far as everything but the last step it is 100% approved. The new deed is already filed / recorded.

In that case, I think your best bet is to finish the transfer of ownership, then have the new owner fax over a signed letter adding you as an associate member, and changing the address of record to your address. Then you can manage the account without having to affect them at all.

 

[Dean]

It is part of a bk, but it was allowed for in the confirmed plan. As far as everything but the last step it is 100% approved. The new deed is already filed / recorded.

If it was a bankruptcy approval, the approval likely stated it could be transferred to a relative. It was likely not approved to do it on paper to allow one to keep it otherwise as a way of bypassing the requirement.

 

[dburg30]

I will make sure the transfer gets finished.