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Old 03-14-2013, 08:06 AM   #1
mcroker
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Transferring ownership

Is it possible to transfer a contract and point over to a family member? If so how difficult is it and does that person receive the same benefits?
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Old 03-14-2013, 08:16 AM   #2
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oh, I want to know too. I have a friend who has points from OKW that she bought for a dime YEARS ago. She and her partner no longer go for health reasons.

I would love to buy her points and she would be willing to sell them to ME for a great deal, but not to anyone else for that price. I know Disney would not let it go through ROFR for that price, so she has transfered her points into my account for my use - I "rent" them from her for the cost of her annual dues. But I know it's a pain in the butt for her to do that over and over every year. I realize I'm not a family member....

We would both love for me to just have the points and her to be out of it.
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Old 03-14-2013, 08:46 AM   #3
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Sure and it's fairly easy and you can do it yourself easily if it's at WDW. The process as I see it is this.
  • Contact DVC and ask them to email you the instructions which they'll do.
  • Complete the transfer form included and sent it to DVC along with any contract if applicable.
  • They'll send you a second transfer form and the ROFR.
  • You'll then need to record a new deed with the current owners along with the ROFR and tax form
  • Send a copy of the recorded deed to DVC along with the second transfer form.

Total cost under $50 for a single contract unless you pay to have a deed done. You can get it done for as little as about $150 total with one of the timeshare transfer companies but you'll still have to do the steps yourself up to getting the ROFR. I think for VB it should be about the same but for HH, CA and HI I'd use a service that works in those states.

Realize that DVC will automatically waive ROFR and the points will remain qualified only if it's transferred gratuitously. If it's a sale, it's no different than selling it to a stranger. If one of the owners does not remain on, you'll need a contract or notarized statement that it's a gift. It's also illegal in FL, and all states I know of, to put one price on the contract and have another secret price separately so you can't legally protect against ROFR this way.

mcroker, whether they'll get the same benefits depends on whether it's a gift or a sale.

JKMJ441724, I'd suggest she have you added to her account either by adding you to the deed or as an associate so you can do the transactions yourself. You can't legally bypass ROFR to get that great deal.
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Old 03-14-2013, 09:05 AM   #4
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Transferring ownership to a family member as a gift is not difficult but does require following a process that you would normally follow for transferring any real estate, meaning you need to transfer in writing and prepare a new deed which then has to be filed with the local government agency that records deeds and you have to pay some transfer/recording fees and taxes.

The transfer also needs to go through right of first refusal for Disney, but for a gift ROFR will automatically be waived and the main reason it is required for a gift is to allow Disney to assure itself that what is happening is a gift and not a sale and to assure Disney issues for filing with the recorder of deeds a waiver of ROFR.

My understanding is that a transfer to a family member will result in the new owner having all the same benefits as a first time purchaser including the use of the Disney collections.

I believe DVC accounting or administration actually can help you with this and provide some forms and thus you might want to contact it.

As to the second poster, having a "friend" who is willing to sell to you at a low price is a transfer that can be attempted but it is one that is treated as any resale for which DVD can exercise its right of first refusal and the new owner will be treated as a resale owner and thus not have access to certain Disney collections.
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Old 03-14-2013, 09:23 AM   #5
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Quote:
Originally Posted by drusba View Post
Transferring ownership to a family member as a gift is not difficult but does require following a process that you would normally follow for transferring any real estate, meaning you need to transfer in writing and prepare a new deed which then has to be filed with the local government agency that records deeds and you have to pay some transfer/recording fees and taxes.

The transfer also needs to go through right of first refusal for Disney, but for a gift ROFR will automatically be waived and the main reason it is required for a gift is to allow Disney to assure itself that what is happening is a gift and not a sale and to assure Disney issues for filing with the recorder of deeds a waiver of ROFR.

My understanding is that a transfer to a family member will result in the new owner having all the same benefits as a first time purchaser including the use of the Disney collections.

I believe DVC accounting or administration actually can help you with this and provide some forms and thus you might want to contact it.

As to the second poster, having a "friend" who is willing to sell to you at a low price is a transfer that can be attempted but it is one that is treated as any resale for which DVD can exercise its right of first refusal and the new owner will be treated as a resale owner and thus not have access to certain Disney collections.
I'm betting it's not a gift from the wording which would remove the qualified benefits.
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Old 03-14-2013, 12:56 PM   #6
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You'd have to read the ownership agreement, but you could buy it for whatever reduced price, and throw in a service owed to the original owner as additional payment. Disney isn't gonna agree to water her plants every Monday for the next year as an example, in order to snatch it during ROFR. Depends on state law, but your adding in a service as a consideration could negate the low per price issue. You're not trying to get one over on Disney or anything, so I think it's fine.
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Old 03-14-2013, 01:15 PM   #7
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Um, I'm going to go with "NO."
 
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Quote:
Originally Posted by Dean View Post
JKMJ441724, I'd suggest she have you added to her account either by adding you to the deed or as an associate so you can do the transactions yourself. You can't legally bypass ROFR to get that great deal.
We've talked about adding me to her account, just haven't bitten the bullet to do it. Also, our understanding is that she is still technically the one responsible for making sure the annual dues are paid. And even though we are friends, I would not ask her to let me have "control" over her points while she "hopes" I pay the dues.
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Old 03-14-2013, 07:06 PM   #8
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Thanks for all the information. In my case I was thinking about just transferring the points to my mom so she could still get all of the same benefits. I'm pretty sure I could probably use it as a tax write off.
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Old 03-16-2013, 06:01 AM   #9
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Quote:
Originally Posted by mcroker View Post
Thanks for all the information. In my case I was thinking about just transferring the points to my mom so she could still get all of the same benefits. I'm pretty sure I could probably use it as a tax write off.
No tax deduction i can think of unless you give it to a charity. Just like if you sell for a loss you can't deduce the loss.
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