On January 18 Disney Vacation Club announced pending limitations to buyers who purchase their ownership interests via the secondary market. Since that initial announcement there have been clarifications on a couple aspects of these changes.
The policy change prohibits future resale buyers from booking any destinations in the Disney Collection, Adventurer Collection and Concierge Collection. Initial information received from DVC indicated that resale purchases must close by March 20, 2011 in order to still qualify for these destinations. DVC has since relaxed their stance and will now allow bookings in the Disney, Adventurer and Concierge Collections by all contracts which are submitted to DVC through March 20.
Resale contracts submitted March 21, 2011 and after will not be eligible for booking the above named Member Getaways.
The second clarification relates to so called gratuitious transfers in which an ownership change occurs with no monetary compensation. Examples of this are transfers upon the death of an owner or passing-on ownership to an immediate family member such as a child.
In the event of a gratuitous transfer, the new owner will be provided with all benefits afforded to the original owner. A contract purchased directly from Disney Vacation Development or a resale purchaced prior to March 21 which is subsequently re-deeded to a qualified family member will remain eligible for all of the DVC Member Getaways.
View complete article
Right now resale purchasers are kind of at the mercy of DVC in relation to when they decide to review for FROR. With the 20th as the submission date, it is up to the broker to get the contract submitted in time.