Membership Auto-expiration

[Dean]

Hello,

I'm starting research into buying DVC, but it looks like even if I buy in, the home resort I'm considering will automatically cancel my membership in 2047.

What happens after that? I start over from square one? Is there a discount to renew?

TIA.

Edited for considerable typos.

I think it's about 50/50 whether DVC extends or offers a discount to current buyers. Given their OKW experience, I think it's far less likely now that before that they'll do so. AT 40 years from now I wouldn't worry much about it, even for a 2042 resort I wouldn't worry about it other than just a judgement on price and value in the interim. IF (big IF) DVC is still viable around 2057 then there will be options for those who want to pay to play.

 

[bumbershoot]

Death is one of the very few ways to escape from a timeshare. Many timeshares aren't worth worth the annual fees, so the estate simply sends a letter stating that there aren't sufficient funds to cover the fees, and signs the deed over to the resort.

But DVC has value. I'd expect the estate to liquidate any assets that your heirs don't want, and then distribute the cash. It'd be pretty silly to relinquish the deed over $6/point in fees when you could sell it for $100/point.

True.

Maybe try to make sure the heirs have money for the first year of dues... (also check with them that they WANT the DVC deed(s))

 

[aprince&princess]

I have a different question. We finally paid off our loan a couple of months ago. DVC stopped drafting our payments. Should I have received something in the mail?

You should receive something in the mail soon. We received paperwork showing that the mortgage was paid off, and it did take a few months to come.

 

[eileenkeeney]

Forgive me for being morbid, but what happens to my membership if I die?

My plan is to expire with my membership, while relaxing on the balcony of my OKW villa.
Just in case I don't expire then, I am wondering if I have to be out by Midnight, or if I can check out at the regular time on Feb 1.

I might even try to book the night of Feb 1, just to see what happens. There is a rumor that for those of us who did not sign away our rights to the extended years, and also did not pay for them, may be entitled to use them. Supposedly this is due to a mistake that DVC made.