I contacted DVC and they sent me the transfer form. They strongly advised using First American Title who was $475 per contract. Then I contacted LT who is going to do the transfers for $150 each and $60 per contract to record them with Orange County— total $210 per contract.
If I went with First American they could combine the two contracts for $475 plus another $50 for a total of $525 otherwise it’d be $475 each.
If my son wants to sell his interest it will be more difficult to sell a 400 point contract rather than a 250 and a 150 point contract.
Dean, I don’t know how to write a quit claim deed or how to record them once they’re written.
LT has always done a fine job for me. I’ll stick with them. But thanks for the advice.
The quit claim is not difficult but if you don't want to fool with it, LT transfers is a good choice. Only DVC can actually combine contracts so that wouldn't be an issue. I wonder if they were just talking about doing it as a combo price or possibly doing only one deed. The downside to doing one deed would be if you sold one, you'd have to do a new need later for the other. I've done them myself in the past to add my daughter to 4 contracts, not a big deal. Still, no reason to wait in this situation, they won't cancel the pending reservation. You still may be better served getting the ROFR yourself up front. You could ask DVC to put the ROFR all one one, that'd save you $18.50 recording fee alone. Otherwise it should be $18.50 for each 2 page recording (X4) and 70¢ for each deed if done correctly.
One thing to note is that if you do it this way all in one year gratis as required by DVC to be automatic you could get into a gift tax issue or have to use part of your life estate exclusion (and do the form on your taxes). The current limit is $14K per person per year going up to $15K next year. From a husband and wife to a son and DIL, you'd be OK. From just you to him, that'd be an issue. Of course you could do one in 2017 & one in 2018 which would minimize the risk/damage.