Ever wish you could change your home resort?

[Dean]

In your case though, assuming you don't have a balance, you could probably sell your BWV and buy a replacement contract at OKW. Even after the commissions, you would probably end up with more money or more points. Keep in mind that you would lose the privileges of owning direct. Seems like a lot of hassle to go through, but it's something to look into anyway.

While the numbers aren't as bad for downgrading resorts as it is for upgrading at least on the surface, the principles still hold because you'd now own something worth less dollar wise. So ultimately you'd still have almost exactly the same losses. In addition, other than maybe a GV and about 3-4 weeks of the year, one can always get something at OKW 7 months out. IMO the only way this makes sense from a dollar standpoint is if one is downsizing significantly. The rest is simply personal preference.

 

[PoohsFan1]

I am happy with my home resorts, however I do wish we had more points at each. LOL

.

I feel the same way sometimes

We too love our home resorts (we own at both BLT and SSR) because of the location of BLT and the serenity and quietness that SSR brings. Now with that said, sometimes I wish we bought into BCV (our favorite resort thus far) too, but even though we didn't, that doesn't mean that we can't trade into it at our 7 month mark (we go more at non peak times)...and we haven't had a problem doing so either .

 

[disney_bob]

Hopefully this isn't considered bringing up a dead thread, but I was just thinking to myself "boy, if they ever build at polynesian I don't know what I'll do". I hardly think I'll be able to afford two contracts of the same magnitude, nor do I think i'd want to stay anywhere but the polynesian

Its too bad they don't somehow offer a service where you pay a fee/penalty and can "upgrade" (still paying the difference) to the resort of your choice. Of course, this would have to be limited to say once every ten years. But I'd do it in a heartbeat for Polynesian.

 

[AllieV]

Is there a way to do a contract swap with someone? For example, take over a BCV from someone who doesn't want the higher fees and give them your longer, cheaper SSR (assuming the same or close points)? I was wondering this anyway and this seems like the appropriate thread to pose the question. I'd think it would save the hunting and realtor fees. And if you could trust the person, it would even save the title search and title insurance.

 

[CarolMN]

Is there a way to do a contract swap with someone? For example, take over a BCV from someone who doesn't want the higher fees and give them your longer, cheaper SSR (assuming the same or close points)? I was wondering this anyway and this seems like the appropriate thread to pose the question. I'd think it would save the hunting and realtor fees. And if you could trust the person, it would even save the title search and title insurance.

It's still a sale and repurchase for both parties. Both transactions would still have to go through ROFR.

 

[AllieV]

It's still a sale and repurchase for both parties. Both transactions would still have to go through ROFR.

There are situations where someone will sign over a contract to an adult child. That doesn't go through ROFR, right? So couldn't you each just sign over your title?

 

[KAT4DISNEY]

There are situations where someone will sign over a contract to an adult child. That doesn't go through ROFR, right? So couldn't you each just sign over your title?

Even the gratuitous transfers go through ROFR. It's pretty much a given that DVC will sign off on them but they do go through the process.

But odds of finding two people that wanted to exchange for the exact property the other person has and just make even steven is nothing I'd bet on happening. Most likely there would always be some sort of cash included on one side.

 

[Dean]

Even the gratuitous transfers go through ROFR. It's pretty much a given that DVC will sign off on them but they do go through the process.

But odds of finding two people that wanted to exchange for the exact property the other person has and just make even steven is nothing I'd bet on happening. Most likely there would always be some sort of cash included on one side.

Each transfer is handled separately as independent events. An even swap is not a gratuitous event.

 

[KAT4DISNEY]

Each transfer is handled separately as independent events. An even swap is not a gratuitous event.

I actually didn't mean to imply that it was. What I did want to clarify is that even a transfer from parent to child has to go thru ROFR.

 

[Dean]

I actually didn't mean to imply that it was. What I did want to clarify is that even a transfer from parent to child has to go thru ROFR.

OK, thanks for clarifying. Your second paragraph threw me off when you seemed to be talking about the exchange of ownership. As for your intent, as clarified, yes and no. DVC has chosen to go the route of ROFR process to handle this situation but it is not a requirement that's inherent. Also, while ROFR are generally recorded, I can see no reason that this has to be done for this situation. Maybe someone else knows something about this that I don't but I see no downside to not recording ROFR for a family transfer and possibly not for any sale as long as you have it. I can't imagine DVC checks online for it and they don't require a copy of the recorded ROFR back to change the names.

 

[permavac]

...Also, while ROFR are generally recorded, I can see no reason that this has to be done for this situation. Maybe someone else knows something about this that I don't but I see no downside to not recording ROFR for a family transfer and possibly not for any sale as long as you have it...

This is a good question. Is it technically a "sale" if no money changes hands? If a parent changes the name on the deed to that of their child and removes him/herself from it, does that go to ROFR? Isn't it just a deed change at that point? Has anyone actually done it?

I would think that if Disney received it as ROFR and there was a $0 amount associated, wouldn't they just take it back? I don't see how ROFR comes into play without a sale attached?

Terri

 

[ELMC]

Taken from DVCnews.com, specifically from:

http://dvcnews.com/index.php/dvc-program/financial/1628-change-in-language-on-rofr-waiver-notice

Bold and italics are my emphasis, not the original author's.

"When a Disney Vacation Club Owner wishes to sell their points to another person, Disney Vacation Development has the right to step in and purchase the points instead. This is known as DVD's Right of First Refusal (ROFR). If DVD decides not to purchase the points, it issues a Notice of Waiver of Right of First Refusal. The Notice specifically states that the Owner is selling their points to another party.

If a Disney Vacation Club Owner wishes to make a gratuitous transfer of their points to another person, DVD routinely waives its right to step in and purchase the points, but it still issues a Notice of Waiver of ROFR. The language of the Notice indicates that it is a gratuitous transfer and that the Owner will not receive any consideration for the transfer."

What's interesting is that it uses the word "routinely" and not "guaranteed". So even though they routinely do this, there's nothing that suggests that they will continue with the routine. Also, on resale contracts all the numbers have been predetermined. If DVD does decide that it wants to take a contract that is being gratuitously transferred, how do they determine a price?

 

[Dean]

This is a good question. Is it technically a "sale" if no money changes hands? If a parent changes the name on the deed to that of their child and removes him/herself from it, does that go to ROFR? Isn't it just a deed change at that point? Has anyone actually done it?

I would think that if Disney received it as ROFR and there was a $0 amount associated, wouldn't they just take it back? I don't see how ROFR comes into play without a sale attached?

Terri

I did a quick scan of the POS I have from OKW. As I read it, any transfer would be deemed to fall under ROFR. Thus if it were a transfer for free, as I read it, DVD could pick it up for free. As noted, they have generally allowed family transfers without compensation but I do not see this as a requirement or right as I read the POS. Obviously the ability to add and remove names gives some flexibility to this possible pitfall.

 

[Deb & Bill]

Taken from DVCnews.com, specifically from:

http://dvcnews.com/index.php/dvc-program/financial/1628-change-in-language-on-rofr-waiver-notice...What's interesting is that it uses the word "routinely" and not "guaranteed". So even though they routinely do this, there's nothing that suggests that they will continue with the routine. Also, on resale contracts all the numbers have been predetermined. If DVD does decide that it wants to take a contract that is being gratuitously transferred, how do they determine a price?

DVCNews is tjkraz, not DVC officially.

 

[permavac]

I did a quick scan of the POS I have from OKW. As I read it, any transfer would be deemed to fall under ROFR. Thus if it were a transfer for free, as I read it, DVD could pick it up for free. As noted, they have generally allowed family transfers without compensation but I do not see this as a requirement or right as I read the POS. Obviously the ability to add and remove names gives some flexibility to this possible pitfall.

That's kinda scary! I guess there isn't any reason for DVC to try to "steal" a contract when someone is trying to give it to their kids but I would feel better if they had addressed that in the POS as a definite pass on ROFR. And you're right, adding names can usually fix that up. But, not addressing that issue specifically and leaving it to "routine" seems sloppy to me. Oh well - we don't have kids so we'll be taking it to our grave anyway

Terri

 

[sweetdana]

I fell in love with BC with our 1st trip.. That being said SSR (where we own), after 3 trips there is now our 2nd fav resort. My goal is to usually split stay the 2 of these resorts, when I go for more than 6 days. When I bought, it was solely cause SSR was about 20-30$ less than all the others, and I could not justify the price diff especially with the yrs left were more.

As a side note, I for a while kept thinking if I bought more points, they would be BC, but once my kids grow out of the kiddie pool, I believe I would be back at SSR (or the Poly if it ever shows up). With less yrs on the contracts, I do not think I could even liking the resort more.

My fav now, is not the same as it was 3 yrs ago. I would not jump on a sell/buy without the emotional drive for at least 3 yrs.

 

[KAT4DISNEY]

I did a quick scan of the POS I have from OKW. As I read it, any transfer would be deemed to fall under ROFR. Thus if it were a transfer for free, as I read it, DVD could pick it up for free. As noted, they have generally allowed family transfers without compensation but I do not see this as a requirement or right as I read the POS. Obviously the ability to add and remove names gives some flexibility to this possible pitfall.

So to clarify your previous post where you thought ROFR wasn't a requirement that was inherent to a transfer it sounds like you have since located a section in the POS that does make the ROFR required for a gratuitous transfer amongst family (or anyone I guess)?

 

[Dean]

So to clarify your previous post where you thought ROFR wasn't a requirement that was inherent to a transfer it sounds like you have since located a section in the POS that does make the ROFR required for a gratuitous transfer amongst family (or anyone I guess)?

I think the jury's still out. I did a quick run through of the POS. My previous statement was that it was that way because DVD/DVC chose to make it so and I think that still holds. There really are 2 issues here, that of the ability to transfer and how it's handled. Unless DVD starts to block gratuitous transfers to family, it really doesn't matter how they handle it.

 

[daisygirl902]

Now that I've been a member for a few years I do wish I had purchased elsewhere...I love the modern atmosphere of BLT and may enjoy it more for the monorail when I am traveling with kids...however we were shocked to realize after staying at multiple resorts that the one we thought we'd like least (OKW) is the one we kike BEST! So yes, looking at the prices and what I know now vs then I would probably have purchased OKW on resale vs BLT direct...however that being said I don't regret it for a second, and would not sell BLT to get an OKW contract...I'll just save and buy another contract there later!

 

[twinklebug]

I know this is slightly askew from the OTopic, but this discussion is very good for us all to know:

This is a good question. Is it technically a "sale" if no money changes hands? If a parent changes the name on the deed to that of their child and removes him/herself from it, does that go to ROFR? Isn't it just a deed change at that point? Has anyone actually done it?

I would think that if Disney received it as ROFR and there was a $0 amount associated, wouldn't they just take it back? I don't see how ROFR comes into play without a sale attached?

Terri

So to clarify your previous post where you thought ROFR wasn't a requirement that was inherent to a transfer it sounds like you have since located a section in the POS that does make the ROFR required for a gratuitous transfer amongst family (or anyone I guess)?

In general, Disney allows transfers of contracts to family members in the case of death. It's good business sense to allow such exchanges and leaves the family as a whole with a positive view of Disney, encouraging more visits and possibly add-ons. I assume this also extends to cases where the owner may not be able to use their contract any longer and wishes to gift it to a child.

Disney has built in an ROFR safety valve for the cases where a member may abuse this ability and start gifting memberships to 'family' left and right. The final say as to what is to be done with the points always goes to Disney.

Also note, I have been told that for employee discounted DVC purchases there is a special clause written in prohibiting sale/transfer of the unit in some manners - I'm assuming that means it cannot be resold, except back to DVC. It's been a few years since I went over this with my guide and forget the details.