Deed Doesn't Match My Contract

[sticker231]

We are looking to sell our Old Key West points. We just started the process and after some research by the broker, we were informed the resale contract we signed for extended points is actually a 2042 contract. Looks like I am going to be busy the next few days contacting the title company and the title insurance company.

 

[princesscinderella]

Argh!! That’s awful. I hope you get it straightened out.

 

[Cupcake232]

Oh no! I hope it’s just a glitch and they can get this fixed for you! Good luck!

 

[Noles235]

How did they verify the expiration date. I’ve seen Brokers post expiration dates that are incorrect. So I never know with some brokers to begin with.

 

[Chuck S]

LEe me see if I understand. You purchased OKW resale, thinking it was an extended contract. And now that you're selling it, it looks like it was a 2042 contract?

Have you checked the Orange County website? The extension may be a different piece of paperwork that should also be onfile. Check under the name of the original deed holder. And check with DVC Administration.

 

[tom1944]

I would also go back through my correspondence with the broker

 

[sticker231]

LEe me see if I understand. You purchased OKW resale, thinking it was an extended contract. And now that you're selling it, it looks like it was a 2042 contract?

Have you checked the Orange County website? The extension may be a different piece of paperwork that should also be onfile. Check under the name of the original deed holder. And check with DVC Administration.

Correct. The broker I’m using to sell didn’t see anything on the OC Comptroller’s website. I also asked through online chat for a verification of my contract end date.

 

[sticker231]

How did they verify the expiration date. I’ve seen Brokers post expiration dates that are incorrect. So I never know with some brokers to begin with.

I’m not really sure how they verify. The purchase was back in 2015. I thought that was why title papers were done, to verify what was listed is accurate.

 

[Chuck S]

I think all the contracts that were drawn up prior to the extension being avaiable have the 2042 end date, and that the extension was done with seperate document. I know we had to have a second document notarixed and filed to decline the extension, and that document shows on the Orange County website.

 

[sticker231]

The broker I’m using for the sale was checking the site and didn’t see anything additional with the original owners name associated with it other than their original deed.

 

[bobbiwoz]

Sorry this is happening. I hope it gets straightened out.

 

[RoseGold]

The title company should be the first call. This should be obvious to them.

A lot of the quitclaims were filed. If not, they make sellers file a quitclaim when they sell. It's why quitclaims keep getting filed on OKW. This should have been obvious in the closing paperwork.

 

[DonMacGregor]

The title company should be the first call. This should be obvious to them.

A lot of the quitclaims were filed. If not, they make sellers file a quitclaim when they sell. It's why quitclaims keep getting filed on OKW. This should have been obvious in the closing paperwork.

This.

Disney shouldn't have let the contract pass through ROFR in 2015 without the quitclaim.

 

[CraigInPA]

And if you find that the contract is actually 2042, your next action is to file a claim with the title insurance company.

 

[Nursemanit]

Can we guess the broker who sold you the contract?

 

[kevtlas]

I hope it was just a mistake and it all works out.

 

[sticker231]

The title company should be the first call. This should be obvious to them.

A lot of the quitclaims were filed. If not, they make sellers file a quitclaim when they sell. It's why quitclaims keep getting filed on OKW. This should have been obvious in the closing paperwork.

I’m going to contact the title company first and then the title insurance company if needed.

Obviously people make mistakes, but I’m amazed it went across so many desks and nothing was noticed.

I would have never been aware there was an issue if we weren’t listing the contract.

 

[AnnaKristoff2013]

would have never been aware there was an issue if we weren’t listing the contract.

Well you would have had an unpleasant surprise in 2042 :

 

[RoseGold]

Obviously people make mistakes, but I’m amazed it went across so many desks and nothing was noticed.

It doesn't sound like you are even sure it's a mistake yet. The title company will know for sure, not some broker. Wouldn't be the first time brokers have been wrong.

 

[CarolynFH]

Per this article from DVC News, DVC filed separate deeds for the extensions but didn’t actually do that until 2019. If I’m understanding that correctly, that means there should be a separate deed corresponding to the owner who paid for the extension, unless they bought an extended contract direct from DVD.