New to DVC! Trying to understand contract!

[Disney Mom Dani]

Hi All, so we just joined DVC (Animal Kingdom) last week on our Disney Fantasy Cruise (which was amazing btw), & our contract just arrived. I'm reviewing this lengthy contract, & I think I understand MOST of it. One question however:

Can anyone explain to me about the OWNERSHIP INTERESTS? It states "Fee title to an Ownership Interest will be conveyed to the Purchaser until Jan, 2057." Will I no longer have ownership at that time?! I'm super confused...

Thanks!

 

[nalajms]

Correct. You're buying a timeshare that ends in 2057.

 

[drusba]

Yes, for AKV, all rights to use end Jan 31, 2057. The DVC timeshares all have specific Jan 31 end dates. At WDW: BWV, VWL, BCV, all end 2042. OKW was also originally 2042 but many were sold an extension to 2057. SSR is 2054, AKV 2057, BLT 2060. Whether there will be further extensions is unknown but in purchasing you need to assume that 2057 is the drop dead year for AKV when your ownership is literally wiped off the books.

One thing you might want to look through for historical and other DVC information or links to it is the "Sticky" at the top of the main thread page on which your post is listed with others entitled "DVC Resource Center."

 

[Nabas]

Yes, all DVC expire, some as early as 2042. As stated in the contract, AKV expires in 2057. Most DVC members don't sweat it. Are you really concerned where you are going to vacation in 44 years?

 

[Disney Mom Dani]

I'm concerned in a sense because it wasn't explained to me. They made it sound like I purchased for ownership that I could pass down to generations to come. This is a shock to me. Plus, I'm only 29...so I'm pretty sure I'd want to go on vacation in retirement.

 

[Dean]

Hi All, so we just joined DVC (Animal Kingdom) last week on our Disney Fantasy Cruise (which was amazing btw), & our contract just arrived. I'm reviewing this lengthy contract, & I think I understand MOST of it. One question however:

Can anyone explain to me about the OWNERSHIP INTERESTS? It states "Fee title to an Ownership Interest will be conveyed to the Purchaser until Jan, 2057." Will I no longer have ownership at that time?! I'm super confused...

Thanks!

It's called RTU (Right to Use) as compared to fee simple ownership. It's common in HI, MX and the Caribbean. Remember with DVC you really don't own much of anything other than an opportunity to make a reservation subject to availability.

 

[ELMC]

Hi All, so we just joined DVC (Animal Kingdom) last week on our Disney Fantasy Cruise (which was amazing btw), & our contract just arrived. I'm reviewing this lengthy contract, & I think I understand MOST of it. One question however:

Can anyone explain to me about the OWNERSHIP INTERESTS? It states "Fee title to an Ownership Interest will be conveyed to the Purchaser until Jan, 2057." Will I no longer have ownership at that time?! I'm super confused...

Thanks!

I say this with the intent of helping, and not insulting you. If you weren't aware of this basic element of DVC, I am wondering what else wasn't explained to you properly. For example, did you know that you can buy a resale contract that has the same benefits for booking DVC resorts for $70 per point?

If you are not sure of what you bought, and are within 10 days of signing the contract, you might want to consider rescinding your purchase so that you can take your time to become better informed. Then, after you have all the information, you decide to repurchase, so be it. Good luck figuring it all out.

 

[Disney Mom Dani]

I say this with the intent of helping, and not insulting you. If you weren't aware of this basic element of DVC, I am wondering what else wasn't explained to you properly. For example, did you know that you can buy a resale contract that has the same benefits for booking DVC resorts for $70 per point?

If you are not sure of what you bought, and are within 10 days of signing the contract, you might want to consider rescinding your purchase so that you can take your time to become better informed. Then, after you have all the information, you decide to repurchase, so be it. Good luck figuring it all out.

I am aware of that, & we may consider for future purchases. Thanks for the tip though.