Bankruptcy Resale

[JimMIA]

Interesting information and view points from all of you - I appreciate it! Since this is my first DVC purchase, I am finding a lot out sort of "after the fact" though. The seller was listed on the contract as an "estate trustee", but I just figured it was an inheritance thing, something like that. The broker said nothing about a bankruptcy resale until today. Apparantly the 2012 points were put in reservation status, and then I guess not used no they begged Disney and Disney put them back on the contract.

She said if I offered any money towards the mf, then she would just put together an addendum and that would be it. Oh, and the closing date on the contract said on or by Oct 8...so we'll see. If things drag onto long and start to get ugly, I'll check about getting out of the contract.

Here's hoping for some pixie dust

You realize points in reservation status CANNOT be used for DVC stays...right?

They can only be used for non-DVC options like cruises, etc, which tend to be VERY expensive uses of points.

Given that annual dues reflect the costs of operating your home resort for the year, I see zero logic in paying for points that you can NOT use at that resort, or any other DVC resort.

 

[KAT4DISNEY]

You realize points in reservation status CANNOT be used for DVC stays...right?

They can only be used for non-DVC options like cruises, etc, which tend to be VERY expensive uses of points.

Given that annual dues reflect the costs of operating your home resort for the year, I see zero logic in paying for points that you can NOT use at that resort, or any other DVC resort.

It sounds like the trustee may have convinced DVC to place the reservatin points back into regular status.

But still - I'd say that there's a signed agreement so them asking to change is not appropriate. And if they are reservation points then there's no way I'd even consider anything other than sticking with the original agreement or walking away.