Thanks Thanks:  3
Likes Likes:  6
Page 1 of 3 123 LastLast
Results 1 to 10 of 28

Thread: Beach Club deed expiration

  1. #1
    Join Date
    Jul 2013
    Location
    Colorado Springs
    Posts
    168
    Post Thanks / Like

    Question Beach Club deed expiration

    As I'm looking at these beautiful updated room pictures of the Beach Club, I wish I owned a small piece of it. But my husband and I don't think it makes sense since the deed expiration is 2042. Then I remembered Old Key West offers a second deed expiration date and wondered if Beach Club would do the same since OKW has the same expiration year as Beach Club, Hilton Head, and Boardwalk. Anyone think this will happen? Or no because BC and BW are far more popular and difficult to get reservations at. Just a fun question.
    ~Amy~





  2. Thanks McNeil516 thanked for this post
  3. #2
    Join Date
    Feb 2010
    Location
    Missouri City, TX
    Posts
    15,696
    Post Thanks / Like

    Default

    To me it would make perfect sense to offer the extension to owners of a very popular resort like BCV. The offer at OKW was very poorly received, some OKW owners refused the offer and signed a quit claim deed indicating they were not interested, a smaller number paid for the offer, and the majority just plain ignored it. Despite DVC's attempt to get them to refuse the offer, they chose to do nothing. Some of those OKW owners are theorizing that means since they didn't sign a quit claim deed they are entitled to the extension without paying. Legally what is true is beyond me. But because of the disagreement and lack of interest by OKW members, I doubt if DVC will offer an extension again. I can see DVD reselling all the expired OKW points to new members.

    When some of the other resorts expire, DVD could make another agreement with Disney to lease the land and remodel the 50 year old resorts and sell the points as a new resort. Or Disney could tear down the current buildings and start fresh and build Disney cash hotels, as Disney owns the property. Either way either method would then start all over with a younger generation of owners. Or Disney might want to repurpose the land and use it in a different manner.

    I understand where the OKW owners that signed a quit claim deed were coming from, sure you could allow your heirs to have a longer contract, but in reality can those heirs afford to pay the DVC annual dues? Or for the heirs that could afford the dues would they be interested in owning a Disney timeshare? Since DH and I will be 108 and 107 years old when our CCV contracts expire. It is very doubtful we will be using those points beyond age 85, if we are lucky. So we are in the same pickle as to whether any one of our heirs will really want to pay for the annual dues of the points especially since in the later years the dues will be very expensive since the dues have been increasing for the new resorts over 4% a year. I hate to even think what those dues might cost by the end of our BLT or CCV contracts.
    --Denise

    Scheduled upcoming Disney trips:

    11/27-12/14/18 AKV Kidani Village
    2/19-2/22/19 - Bay Lake Tower
    3/10-3/14/19 - AKV Jambo House


  4. Likes Aurora912 liked this post
  5. #3
    Join Date
    Dec 2007
    Posts
    9,639
    Post Thanks / Like

    Default

    I don't think they will ever offer extensions in the future. Considering the prices they are charging today for new resorts, I bet DVC/DISNEY can't wait for 2042 to get here so they can sell those resorts all over again.

    My theory is that DVC will continue to offer new resorts every few years until they can start recycling existing resorts forever and ever.

  6. Likes Aurora912 liked this post
  7. #4
    Join Date
    Feb 2012
    Location
    Alberta, Canada
    Posts
    711
    Post Thanks / Like

    Default

    Quote Originally Posted by KNWVIKING 2.0 View Post

    My theory is that DVC will continue to offer new resorts every few years until they can start recycling existing resorts forever and ever.
    That would make the most sense. There will be a time when they run out of space and no way they let a cash cow like DVC run dry. There seems to be a many resorts in close proximity (for construction dates) that at some point they could shut one down and do an overhaul and sell it as a brand new resort without taking a major hit to occupancy. But I agree why renew points for members when they could sell them brand new every 50 years without having to build a resort.
    WDW - POFQ, CS, ASM, BLT, OKW, VWL, AKL - (9 trips)
    DL - 4 trips
    DCL - 2 cruises
    Aulani - 3 trips




  8. Likes Aurora912 liked this post
  9. #5
    Join Date
    Nov 2015
    Location
    SFBA
    Posts
    198
    Post Thanks / Like

    Default

    I suspect the biggest problem here is going to be all the resorts that expire simultaneously in 2042. They'll suddenly have three and a half resorts expiring at WDW: BWV, BCV, and VWL/BRV, plus...whatever will happen at OKW.

    Add in that, as the end approaches, resale prices will start dropping to (personal guess) about the remaining rental value.

    I would be unsurprised if there's a 'priority resale' or similar - not an extension per se, but a new contract for another 50 years, where existing buyers get first crack and perhaps a small discount off the current price. (Which, given current rate increases, may mean _only_ $485/point instead of the $500 that new resorts are going for.)
    [WDW visits: DxL 1/98, VWL 1/03, WL 6/03, VWL 1/08, BWV 1/13, BCV 1/16, POFQ 4/17, BCV 1/19, BCV 4/19]
    [DL visits: 7/90, 11/93, 11/94, 11/95, 6/96, 11/96, 11/97, 11/99, 12/00, 8/01, 1/06, 2/08, 2/12, 6/14, VGC 7/16, DLH/VGC 1/17]
    [Family: me47, wife46, daughter19, son17, son14]
    [Races: 2016 WDW 10k, 2017 SW Light Side Rebel Challenge, 2017 SW Dark Side Half, 2019 SW Virtual Half, 2019 SW Rival Run Challenge]

  10. Likes Aurora912 liked this post
  11. #6
    Join Date
    Jul 2013
    Location
    Colorado Springs
    Posts
    168
    Post Thanks / Like

    Default

    Quote Originally Posted by KNWVIKING 2.0 View Post
    I don't think they will ever offer extensions in the future. Considering the prices they are charging today for new resorts, I bet DVC/DISNEY can't wait for 2042 to get here so they can sell those resorts all over again.

    My theory is that DVC will continue to offer new resorts every few years until they can start recycling existing resorts forever and ever.
    I think you're right.
    ~Amy~





  12. #7
    Join Date
    Jul 2013
    Location
    Colorado Springs
    Posts
    168
    Post Thanks / Like

    Default

    Quote Originally Posted by denlo View Post
    To me it would make perfect sense to offer the extension to owners of a very popular resort like BCV. The offer at OKW was very poorly received, some OKW owners refused the offer and signed a quit claim deed indicating they were not interested, a smaller number paid for the offer, and the majority just plain ignored it. Despite DVC's attempt to get them to refuse the offer, they chose to do nothing. Some of those OKW owners are theorizing that means since they didn't sign a quit claim deed they are entitled to the extension without paying.
    What's a quit claim deed? Like owners were offered to pay a large fee to further extend their original 50 year contract, but a lot of current owners said no? Also, you think the current owners neither accepted nor declined that extension offer, so therefore they think they automatically get the extension?
    ~Amy~





  13. #8
    Join Date
    Jul 2013
    Location
    Colorado Springs
    Posts
    168
    Post Thanks / Like

    Default

    Quote Originally Posted by kazrak View Post
    I suspect the biggest problem here is going to be all the resorts that expire simultaneously in 2042. They'll suddenly have three and a half resorts expiring at WDW: BWV, BCV, and VWL/BRV, plus...whatever will happen at OKW.

    Add in that, as the end approaches, resale prices will start dropping to (personal guess) about the remaining rental value.
    That's a great point about multiple resorts expiring in 2042. I more hope than believe at this point that DVC wouldn't raise point prices too much higher. I have friends, and myself included, that all agree we could never have afforded to buy into DVC nowadays.
    ~Amy~





  14. #9
    Join Date
    Jul 2010
    Posts
    3,850
    Post Thanks / Like

    Default

    Quote Originally Posted by Aurora912 View Post
    What's a quit claim deed? Like owners were offered to pay a large fee to further extend their original 50 year contract, but a lot of current owners said no? Also, you think the current owners neither accepted nor declined that extension offer, so therefore they think they automatically get the extension?
    In the case of the Old Key West extension, the "Right To Use" was extended from January 31, 2042 to January 31, 2057. In order for OKW owners to benefit from that extension they had to pay Disney a fee of $25 a point, which was initially discounted to $15 a point. If the owner paid the fee, they could use their OKW points for another 15 years. If an owner did not want to pay the fee, they had to file a quit claim deed which turned over to Disney the 15 years from 2042 to 2057.

    Supposedly, when Disney first offered the extension, it stated or implied that if members did not pay for the extension they HAD to complete a quit claim deed to return the extra 15 years over to Disney. Failure to submit the quit claim would result in Disney freezing their accounts and not permitting them to use their points.

    Disney has never taken such action.

    Some OKW members, even to this day, have never signed a quit claim deed. There are a few armchair lawyers who contend that since Disney unilaterally extended the Right To Use, members don't have to pay to use OKW after 2042. They feel their original contract with Disney gives them the right to use OKW however long it remains in the DVC system.

    Every month I see a few quit claim deeds recorded on the Orange County Comptroller's website. It appears that they are from OKW owners who never submitted a quit claim deed but are now selling their deeds on the resale market. Disney is apparently requiring a quit claim deed to be submitted before it will let the deed be transferred to another person.
    Last edited by wdrl; 03-10-2018 at 09:29 AM.






  15. Thanks Aurora912 thanked for this post
  16. #10
    Join Date
    Feb 2010
    Location
    Missouri City, TX
    Posts
    15,696
    Post Thanks / Like

    Default

    I expect if a member does a gratuitous transfer of their OKW deed that expires in 2042 to a family member, DVC would require them to sign a Quit Claim Deed too before the transfer can be processed.
    --Denise

    Scheduled upcoming Disney trips:

    11/27-12/14/18 AKV Kidani Village
    2/19-2/22/19 - Bay Lake Tower
    3/10-3/14/19 - AKV Jambo House


  17. Likes Aurora912 liked this post

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •