How much of the DVC legal documents have you actually read?

[DVC Mike]

How much of the DVC legal documents have you actually read?


Buying into DVC involves committing a substantial amount of your money - in terms of the initial cost and the annual dues.

You are also purchasing a real estate investment in a timeshare, and any real estate transaction usually involves a bunch of paperwork and signatures. However, the Disney Vacation Club is a bit more complex than just buying a house, as there are significant restrictions and rules regarding your ability to use that real estate investment.

Given that, when you made that big decision to buy, before you signed, how much of the legal paperwork did you actually read?

Even after you purchased DVC, how much of the legal documents have you actually read?

Many people don't read more than the two-page Product Understanding Checklist, and perhaps the Purchase Agreement and the Deed.

Have you read the Multi-Site Public Offering Statement containing such documents as the Home Resort Rules and Regulations?

What about the Component Site POS containing such documents as the Declaration of Condominium and the DVC Membership Agreement?

​

Purchasing DVC

• What was your purchase philosophy when choosing your home resort(s)?
• Headed up or down with your points?
• How much of the DVC legal documents have you actually read?

DVC Resorts

• Favorite thing you love, and what you most dislike, about your home resort?
• Which DVC resorts have your favorite cocktail lounge/bar?
• How much time do you spend at the resort versus the parks?
• Which DVC Resort is your favorite for watching the MK fireworks?
• Are the Polynesian Villas really that noisy?
• What does the future hold for DVC?

Renting Points

• Do you rent out your points yourself or use a “points broker”?

Using Your DVC Membership

• Do you still call Member Services?
• Out of points, but you still want to go to Disney?
• Which room sizes do you book the most?
• Do you still experience obsessive Disney planning?
• How much of your vacation time do you spend at Disney?
• How has DVC changed your vacation pattern?
• What meals or snacks do you prepare in your room?

Just for Fun

• How did you pick your DISboards User Name?
• Are you a "lurker" on DISboards? If not, what caused you to de-lurk?
• How long have you been a DVC member?
• How old were you when you first became a DVC member?
• What is your family status?
• Do you unpack or live out of your suitcase?

​

 

[freediverdude]

I tried to get through a lot of it, although admittedly I ended up kind of skimming through a lot, just too many pages of legalese. I did learn some things though reading through all that.

 

[DVC Doctor]

 

[rcchello]

When I read the POS it wasn't multi-site! Just pulled mine out to check.

 

[DVC Mike]

I'm a bit surprised that (so far) 40.9% of you said yuo have read the POS. That's higher than I expected, but then, folks on the DISboards aren't always representative of the DVC membership.

http://i235.*************************************POS/ReadThePos_1.png​

 

[drusba]

Being a glutton for punishment, I actually read through all the documents provided when purchasing at BWV in 1997 and have also read through like documents for other resorts. Moreover, I have even read through other documents and amendments filed with public agencies, and several years before purchasing BWV, I read through OKW POS's that I was provided upon request when considering a possible purchase. Blame it on being a suspicious lawyer. What actually compelled me to read through all the documents before my initial purchase is that my suspicious side said you cannot trust any huge legal document that has no index. When purchasing AKV in 2007, it was easier than BWV in 1997 because I was going through mainly to find any differences from the BWV documents and modern science allowed computerized word searches of those documents that I could get in Adobe format. My conclusions reached are that the documents and Florida law protected fundamental rights while giving DVD the ability to screw us over in some areas, although not anywhere near as bad as many assume Disney has the power to do.

 

[BuffaloJim]

Reading legal documents? I don't think so.

When my wife asked if I'd be reading them, I told her not a chance. There are thousands of DVC owners out there, if there was something overly nefarious in there, they'd have fleshed it out by now.

 

[cdnjason]

I'm an attorney. I read them all. It actually amazes me how little people read before signing off.

 

[Dean]

I'm an attorney. I read them all. It actually amazes me how little people read before signing off.

Agreed. IMO it removes any valid reasons for complaining based on the information provided but we know that doesn't stop anyone from doing so. But even if they read it or know the information they often proceed with invalid assumptions. When discussing the reallocations a few years ago I remember a post by someone essentially saying they knew it could happen but assumed it never would so they were still upset with DVC.

 

[alisonslp]

When discussing the reallocations a few years ago I remember a post by someone essentially saying they knew it could happen but assumed it never would so they were still upset with DVC.

I don't see anything wrong with being upset about changes even though you knew it could theoretically happen. That happens all the time in all of our lives. And when discussing these topics on forums, people are often voicing just their frustration over the situation and what should be "ideal" vs what is real. As long as they acknowledge the fact that, yes indeeed, the reality is ....

DH and I both read all the documents that were provided to us prior to signing. I typically read through any addendum and the yearly bulletins that get mailed. But I can tell you that while I knew and understood what I was signing back in 2008, I couldn't tell you much in the way of details now. My brain just does not retain that sort of info and I don't make it a priority to read through it yearly. I have consulted the paperwork on occasion when I have had a question but that's about all. And s a result, I have gotten caught off guard by things discussed on the forums that I did not remember in the contract. I am sure I am not the only one it happens to.

 

[Dean]

I don't see anything wrong with being upset about changes even though you knew it could theoretically happen. That happens all the time in all of our lives. And when discussing these topics on forums, people are often voicing just their frustration over the situation and what should be "ideal" vs what is real. As long as they acknowledge the fact that, yes indeeed, the reality is ....

DH and I both read all the documents that were provided to us prior to signing. I typically read through any addendum and the yearly bulletins that get mailed. But I can tell you that while I knew and understood what I was signing back in 2008, I couldn't tell you much in the way of details now. My brain just does not retain that sort of info and I don't make it a priority to read through it yearly. I have consulted the paperwork on occasion when I have had a question but that's about all. And s a result, I have gotten caught off guard by things discussed on the forums that I did not remember in the contract. I am sure I am not the only one it happens to.

I can see being disappointed at one's bad luck but not with DVC. They actually have a responsibility to even out usage if it gets too off