When does your 10 days to rescind start?

[Cmbar]

Confused as to when our 10 days to cancel the contract begins. We gave our deposit last week, but still have not received any paperwork from Disney. I am thinking we have 10 days from signing the paperwork? Is that correct?

Not that I think we will change our mind, just would like to know all my options. Thanks!

 

[Tara]

I believe from the date you sign the papers. If you haven't signed anything, then there's no contract to rescind yet.

 

[KAT4DISNEY]

From the day you sign your paperwork.

 

[Turtle31]

Can anyone tell me ~ How long does it take to get the paperwork after you put down the deposit? Does it come fed-ex just like the brochure and DVD?
Sorry - didn't want to create a whole new post.

 

[disneynutz]

FedEx, but it goes through several different hands before it's sent and that can take a few days.

 

[Dean]

It's from the latter of when you sign or when you receive certain legal documents like the POS. It must be postmarked by MN the 10th day.

 

[WDWfantasy]

It's from the latter of when you sign or when you receive certain legal documents like the POS. It must be postmarked by MN the 10th day.

Unless, you live in California and purchase in California (we added on at VGC).....then it is 7 days. I just signed a MOUNTAIN of paperwork last night for (4) 50 point add-on contracts. We didn't finance either and the stack was like an inch thick!! I don't know if the 7 day rescission period applies for any other states??

 

[disney4metoo]

Unless, you live in California and purchase in California (we added on at VGC).....then it is 7 days. I just signed a MOUNTAIN of paperwork last night for (4) 50 point add-on contracts. We didn't finance either and the stack was like and inch thick!! I don't know if the 7 day rescission period applies for any other states??

I did not know it was seven days in California, thanks for the information!

 

[Dean]

Unless, you live in California and purchase in California (we added on at VGC).....then it is 7 days. I just signed a MOUNTAIN of paperwork last night for (4) 50 point add-on contracts. We didn't finance either and the stack was like and inch thick!! I don't know if the 7 day rescission period applies for any other states??

It's based on state law. In past years DVC was greater than FL law at 15 days, that changed a few years ago. Not certain about SC but I think it's 10 days as well.

 

[JimC]

It should clearly state the length of time you have in your contract in bold type just prior to your signature on the Purchase Agreement.

For example, for our VGC purchase it states:

You may cancel this Agreement without any penalty or obligation within ten (10) calendar days of receipt of the California Time-share Plan Public Report, Multi-site Time-share Plan (Non-Specific Time-share Interest) or after the date you sign this Agreement, whichever date is later. If you decide to cancel this contract, you must notify the Seller in writing of your intent to cancel. Your notice of cancellation shall be effective upon the date sent and shall be sent to Disney Vacation Development, Inc., Attention: Membership Administration at 200 Celebration Place, Celebration, Florida 34747. Your notice of cancellation may also be sent via facsimile to 407-938-4121, or by hand delivery. Any attempt to obtain a waiver of your cancellation rights is void and of no effect. While you may execute all closing documents in advance, the closing, as evidenced by delivery of the deed or other documents before expiration of your cancellation period, is prohibited(1).

(1) The term 'notify', as used above, means that a written notice of cancellation is delivered, by any means including certified return mail receipt requested, to Disney Vacation Development, Inc., Attention: Membership Administration at 200 Celebration Place, Celebration, Florida 34747

Your specific contract and state law govern the terms.

 

[dcfromva]

Unless, you live in California and purchase in California (we added on at VGC).....then it is 7 days. I just signed a MOUNTAIN of paperwork last night for (4) 50 point add-on contracts. We didn't finance either and the stack was like an inch thick!! I don't know if the 7 day rescission period applies for any other states??

There is an additional part of the contract with the VGCs associated with the receipt of the final public report. I wonder if you are referring to the paperwork that is associated with the receipt of the final public report?

I received a "conditional" public report which expires July 11, 2009. What I understand is Disney has to deliver the final public report prior to the expiration date of the conditional public report. Also, I do not believe the contract can close until I receive the final public report (and then I have an additional 7-10 days to rescind the contract). Also, it says if Disney does not issue the final report prior to the deadline, they have to return all money held in escrow....

 

[dcfromva]

This is what the contract paperwork associated with the public report says,

"You may cancel the purchase of the time-share interest(s) in the time-share plane identified below without any penalty or obligation and are legally entitled to the return of all you money and other considerations that you have been given toward the purchase. If you decided to cancel your purchase, you must notify the deveoper in writing of your intent to cancel within seven calendar days of receipt of the public report or the date you sign the purchase contract, whichever date is later. Your notice of cancellation shall be effective upon the date sent and shall be sent to the developer at the address or facsimile number provided in your purchase contract. Any attempt to obtain a waver of your cancellation right is void and of no effect."

Then, if you page through the additional documents, there is the Conditional Time-Share Plan Public Report. (It is the document in yellow). In this document it tells about when it expires and when Disney has to deliver the final report. This document is really interesting. I says there are 1,136,876 total vacation points at VGC. And, there are 2 GV-2,426 sq ft, 23- dedicated 2BR (1,257 sq ft) and 23-2BR lockoffs (1,244sq ft)....
( Wow, I didn't notice this before, but it lists the dedicated 2BR as having 2baths... )

 

[WDWfantasy]

( Wow, I didn't notice this before, but it lists the dedicated 2BR as having 2baths... )

I didn't notice that either......that is interesting. If there is no 3rd bathroom (in the entry/kitchen/living room area) I wonder what is in that space??

 

[dcfromva]

I didn't notice that either......that is interesting. If there is no 3rd bathroom (in the entry/kitchen/living room area) I wonder what is in that space??

I wonder if it is an error--since it is the conditional report. I am going to call and ask about it.

 

[disneyistheone]

Can anyone tell me ~ How long does it take to get the paperwork after you put down the deposit? Does it come fed-ex just like the brochure and DVD?
Sorry - didn't want to create a whole new post.

I bought an add-on last Saturday. The FedEx arrived Wednesday.
I FedEx'd it back Friday
I just checked tonight(Saturday) and the package is in Orlando waiting for a Monday delivery.