Transferring Contract to Relative

[Firepath]

We want to transfer a small contact to our adult daughter who lives with us. We are grandfathered in with some of the benefits and want her to have the same. There will be no exchange of money. What’s the best way to do this?

 

[DaveNan]

Your daughter should keep all the benefits/status you have, if you do a gratuitous transfer. You can do it yourself for about $20. If you would rather have a title company assist you, my understanding is it can run $400-$500. LT Transfer specializes in these, and I think charges closer to $200.

Here's a thread on how to DIY. The OCC is actually pretty helpful if you run into any issues.

https://www.disboards.com/threads/s...g-contract-gratuitous-transfer.3701707/page-2

 

[kandlsutton]

Note that Steps 1 and 3 are no longer required. We will be adding our son in a few weeks and I reached out to Member Administration and this is their reply:

 

[Firepath]

Thank you. I can’t believe I don’t know this, but what is the OCC? Orange County something?

 

[DaveNan]

Orange County Controller (Comptroller) I think

 

[sndral]

Thank you. I can’t believe I don’t know this, but what is the OCC? Orange County something?

Yes, Orange County Comptroller https://occompt.com/official-records/ - it’s where deeds, liens, etc. relating to real property, including DVC deeds, are recorded. In my state we call them Recorder’s offices.