DVC reverses decision on who gets grandfathered in for benefits

[2thdr]

From Nick Cotton at DVC Resale Market:
IMPORTANT UPDATE:
In a letter from Disney e-mailed late this afternoon:

This note is to inform you that anyone with a contract that was received by Disney Vacation Club by the end of the day on April 3, will be grandfathered in to have the same access to Membership Extras that are available to others who have purchased DVC memberships from sources other than Disney since March 21, 2011. (Note: Those members who purchased from sources other than DVC after March 21, 2011 may not use their points for the “Disney Collection” (select Disney Resort Hotels, Disney Cruise Line and Adventures by Disney) and the “Concierge Collection” resorts. As a reminder, the Membership Extras are incidental benefits offered by DVC and are subject to change.)

 

[ziravan]

LOL.

 

[mommacat56]

Well maybe, just maybe, the people in charge DO have hearts! Or at least they thawed a little!!

 

[ScubaCat]

Unfortunately, they'll be removed again tomorrow. This time, by telegram.

 

[amarberry]

Talk about the drama!

I'm glad to hear that they did this. Hope it sticks.

 

[Coamfo]

my broker just received this from DVC.

 

[malba2366]

So they changed their policy once again? Hopefully they don't change it back!

 

[ScubaCat]

 

[supersnoop]

It'd be helpful if they were more specific than "contract." Contract submitted to ROFR?

 

[ldo]

I'm really happy for all those who were in closing.

 

[sgtdisney]

It'd be helpful if they were more specific than "contract." Contract submitted to ROFR?

Asking them to make a clearly defined statement is just going a bit too far.

 

[Meandnevaeh]

I hope this is for real this time, and I hope my sellers get their closing docs returned soon, since we should have closed a week ago. If this deal goes south it will be back to the drawing board for me.

 

[2theCastle]

I think they are just clarifying the same position. We closed right around the end of last week but it wasn't sent to Disney to record until the 5th so my closing agent apologized and said we had just missed the cut-off. If that is the case then they aren't referring to ROFR but actually recording the contract after the deed has been taken care of.

 

[freediverdude]

"Contract that was received" is still not clear as to when in the process they mean. Received for ROFR? Received to do the estoppel letter? Received the recorded deed/contract to issue member number and put the points in the system? Lol

 

[DVCminnie40]

My resale agent just sent me an email today(Apr 7th) at 4:55est that said
"GOOD NEWS!!!!! Disney just sent a revision stating that "Contracts that were RECEIVED by Disney Vacation Club by the end of the day on April 3, will be grandfathered in to have the same access to Membership Extras that are available to others..." This means that you will not be excluded from those benefits!"

My contract was sent to Disney on March 31st for ROFR so my agent clearly is under the impression that it is contracts that were sent for ROFR. We Shall see!

 

[sanibel93]

Maybe the thought of all the bad PR made them rethink their decision???? Congrats to all that just got in!!!!!!

 

[cel_disney]

That's GREAT news! I am so happy to see that they did right by all of those in limbo-land!!

 

[disnebraska]

Unfortunately, they'll be removed again tomorrow. This time, by telegram.

Or a note tied to a rock and thrown through the window.

 

[cel_disney]

Or a note tied to a rock and thrown through the window.

While I really hope that this doesn't happen - it made me laugh A LOT! Hugs to all of you on this roller coaster! I have faith this reversal will stick!

 

[malba2366]

Maybe the thought of all the bad PR made them rethink their decision???? Congrats to all that just got in!!!!!!

I doubt it...the bad press is something only a minuscule number of people in the grand scheme of things care about. I believe their lawyers told them to do it this way to avoid lawsuits. One could make an argument that they held the contracts in the ROFR process and then made changes during that time....this would open them up to lawsuits for loss of value for holding of the contract too long in ROFR.
Whether or not the cases would succeed, I doubt disney would want to open themselves up to these kinds of lawsuits for the 100-200 discounts they would have to restore.