OKW Annual Dues Extension Credit

[DVC92]

I received my OKW annual dues statement today, and it included an extension credit of $30. I have yet to return my postcard concerning the extension. Although the extension credit has been apparently orally announced to members, there has never been anything in writing or in the passed resolutions concerning such a credit to my knowledge. Does DVC management have a clue as to what they are doing concerning this extension?

 

[Chuck S]

The $30 credit is to compensate OKW members for their time in dealing with the extension/no-extension. Whether you accept the extension or not, there will still be paperwork to be notarized when the contracts are sent out.

 

[rsinj]

You have to excuse the original poster as his sole purpose is to badmouth Disney/DVC with every opportunity, especially in regard to the OKW extension, whether there is a justified gripe or not.

If the money for the $30 credit doesn't come out of member's money (and wouldn't it be silly if it did - give you your own money back that you've already paid in dues), why would you care if it was put in writing or in passed resolutions? Think of it - here's someone who is genuinely upset because he is being given money, simply because the fact he would be getting money wasn't communicated to him in writing.

The original poster will be the person who doesn't return his postcard simply to see what happens, how far he can push things, and provoke a confrontation.

You have to take some poster's posts with a very big grain of salt.

 

[DVC92]

You have to excuse the original poster as his sole purpose is to badmouth Disney/DVC with every opportunity, especially in regard to the OKW extension, whether there is a justified gripe or not.

From what I have read on the boards, the $30 is only supposed to be given to the non-extenders for their inconvenience in getting papers notarized. I haven't seen any official notification of such a credit. You, supposedly, have paid for the extension. You don't need to take any other action and have no reason to be compensated. Did they credit you? Why would they credit me $30 if they do not know my decision. Although the BOD resolution clearly stated the special assessment was due and payable on 2/29/08, DVC changed the rules to only make your decision known by that date. Clearly, the actual due date for payment or return of whatever needs to be notarized has been extended without a further resolution or any explanation. Clearly, you have the answers. I don't, and apparenty neither does DVC.

 

[DVC92]

The $30 credit is to compensate OKW members for their time in dealing with the extension/no-extension. Whether you accept the extension or not, there will still be paperwork to be notarized when the contracts are sent out.

I do not believe any action needs to be taken other than sending them a check if you choose to extend. It is my belief, from what has been posted on the boards, that the $30 was to only go to non-extenders.

 

[Chuck S]

I do not believe any action needs to be taken other than sending them a check if you choose to extend. It is my belief, from what has been posted on the boards, that the $30 was to only go to non-extenders.

You are incorrect. The $30 is for ALL OKW owners, whether they extend or not.

There is action to be taken to extend the documents, you still need to have the paperwork notarized, as you do with any change to a contract regarding real estate. A contract can not be extended unilaterally by one side, it must be approved by both sides (in this case owner and DVC) or declined.

The only thing different that extenders will receive is some sort of lighthouse commemorative object and the additional 15 years, of course.

 

[rsinj]

Why would they credit me $30 if they do not know my decision....Clearly, you have the answers. I don't, and apparenty neither does DVC.

Again, why should you care that someone is giving you or anyone else money if it is not coming out of membership monies?

DVC certainly does have the answers - have you made any attempt to contact them to ask all of your questions and get the answers from the horse's mouth instead of resorting to the posts that you do?

As Chuck indicated, regardless of what option you choose, there will be some amount of work on your part required. However, for someone who doesn't intend to choose an option, and is adament that they are going to fight (what I'm not really sure), then, maybe you're right - you shouldn't get the $30 credit. You may want to contact DVC and tell them that they made a mistake in your case, and that they should not be giving you the $30 credit.

I do not believe any action needs to be taken other than sending them a check if you choose to extend. It is my belief, from what has been posted on the boards, that the $30 was to only go to non-extenders

Again, why should you care? Does it effect you in some negative way? Will it have an effect on your decision to extend or not?

Your intent is clear - as it has been for the past couple months.

 

[DVC92]

Again, why should you care that someone is giving you or anyone else money if it is not coming out of membership monies?

DVC certainly does have the answers - have you made any attempt to contact them to ask all of your questions and get the answers from the horse's mouth instead of resorting to the posts that you do?

As Chuck indicated, regardless of what option you choose, there will be some amount of work on your part required. However, for someone who doesn't intend to choose an option, and is adament that they are going to fight (what I'm not really sure), then, maybe you're right - you shouldn't get the $30 credit. You may want to contact DVC and tell them that they made a mistake in your case, and that they should not be giving you the $30 credit.



Again, why should you care? Does it effect you in some negative way? Will it have an effect on your decision to extend or not?

Your intent is clear - as it has been for the past couple months.

How can one assume what action I have taken or intend to take? However, in the past months, I have written Jim Lewis twice requesting copies of the documents needing to be executed regarding both the extension and non-extension options in order to make an informed, potentially costly decision. I have also requested the same from my guide and from the member satisfaction team. I have yet to be sent any documents and rely only on information posted on these boards. What has any member seen beyond the postcard to complete either transaction? Why should any of us have to issue blind consent prior to seeing the documents? I don't understand why Disney is dragging their feet on my request.

Regarding the $30 compensation, these boards are the only place I had seen the mention of it, apparently originally commented on at the annual meeting. In accepting this credit, what exactly am I consenting to do? There is no explanatory notice or comment in the bill. The latest form letter from my guide last week states that extenders get a memory capsule and lithograph. Further, if you don't extend, you will still get the lithograph, however, no mention is made of the $30 credit for extenders or non-extenders.

Chuck states that a new contract is necessary, since unilateral action can't be taken without one. Well, IMHO DVC has unilaterally modified the contracts by extending the ground lease. I don't believe any action other than payment is necessary for extenders, but I don't know this for a fact. You indicated that you paid the fee to extend quite some time ago. What paperwork have you been required to execute? Was a notary needed? Did you receive a new deed?

Do I believe that Disney has sloppily handled this whole extension matter with extremely poor communication with the membership? Yes! Do I wish to condemn another poster for sharing their thoughts? No!

 

[rsinj]

In accepting this credit, what exactly am I consenting to do? There is no explanatory notice or comment in the bill. The latest form letter from my guide last week states that extenders get a memory capsule and lithograph. Further, if you don't extend, you will still get the lithograph, however, no mention is made of the $30 credit for extenders or non-extenders.

Gee, I'd guess you'd be consenting to accepting a $30 discount on your dues. If you were legally "consenting" to anything, don't you think that from a legal perspective you would be required to be informed what it was you were consenting to?

I don't believe any action other than payment is necessary for extenders, but I don't know this for a fact. You indicated that you paid the fee to extend quite some time ago. What paperwork have you been required to execute? Was a notary needed? Did you receive a new deed?

It is nice that you admit that you don't know what is required. But, once again, what does it matter? Whether it is simply payment of the assessment, or anything more, action is required. For some that action is simply picking up the phone and spending 15 minutes reaching your guide and giving him/her your credit card. For others, even if they ultimately accept, they will need to spend time considering the extension, possibly do more investigation - whatever - DVC realizes that there is time involved regardless of decision and is giving a $30 credit. You have consented to what you have already consented to - paying your dues and any special assessment which the association levies - whether you agree with said assessment or not. The association is giving you the alternative of not paying the assessment. If you choose not to follow their procedures, again, you take the legal ramifications which will surely eventually follow.

How does the fact of whether additional action is required or not change anything for you personally? It does not change your decision to extend or not extend - does it?

I've previously sent you a copy of the document which those who extend received. To date, that is all that was received - a "Product Understanding Acknowledgement" along with a "Receipt for Deposit for Special Assessment".

Additionally, on the dvcmember.com website, my profile as been updated to include the extension contract along with our original. The extension has a new number (original with a new suffix).

I am still flabbergasted that anyone has an issue with the way DVC is handling this. You do not own your DVC membership beyond 2042 (as everyone is well aware) and all DVC is asking you to do is follow the legal procedures that have been put in place to allow them to resell the membership when your membership ends. If you've got issues with the way they've chosen to handle extensions - fine, you've made that known for months now. However, in the end, you are going to follow the process, or, you are going to bring additional problems upon yourself. Look at it in the same light as a condominium owner refusing to pay his monthly dues. After fulfilling the legal obligations of notification of non-payment of dues, the homeowners association will place a lien on the homeowners property and begin legal procedings. Question the "fairness" of it, complain of it, argue about it - it doesn't matter because in the end, you will abide by it. Anyone who is or has been a member of a homeowners association is well aware of how that works, and being a dissident homeowner witholding dues or refusing to pay a special assessment will get you nowhere except the losing end of a court proceding. And, to add insult to your own perceived injury, the legal procedings against you will be done using association monies - dues that you have paid.


http://www.wdwinfo.com/disney-vacation-club/faq.shtml

What are the details of the Old Key West fifteen year contract extension offer?

All Old Key West owners are going to be offered the opportunity to extend the contract end date from 1/31/2042 to 1/31/2057, an additional 15 years.

The price for the extension is $25 per point. If you accept this offer prior to 2/29/2008, the cost is $15 per point with Disney Vacation Club Development covering the extra $10 per point.

If you choose to add this extension, you'll receive a "Lighthouse Memory Capsule" and a special lithograph. If you choose not to accept this offer, you will still get the lithograph but not the capsule.

In order to compensate for the cost (notary) and time required to process the paperwork, all members are getting a $30 credit of their December 2007 dues whether they take the offer or not.

Payment options are through DVC with a 10 year loan with 10.75% interest. You can also opt to finance it privately, pay it in full or pay it using a major credit card. There will be no closing costs.

This offer is per contract. If you have multiple OKW contracts you do not have to accept this offer for all of them. However, it must be applied to the full value of your points to whichever contract you choose.

This is a one time offer. You will not be allowed to extend your contract with this offer at a later date.

The price of OKW points purchased through DVC for expiration in 2042 was $92. With the passage of this extension resolution, the cost is now $96 per point with an expiration of 2057.


A lien will be placed on all current contracts in the form of a special assessment for the extension of the ground lease. The lein is satisfied by either accepting or rejecting the extension.

At this time there are no plans to extend the contract end date for any other Vacation Club properties.

http://dvcnews.com/index.php?option=com_content&task=view&id=197&Itemid=2

Old Key West Contract Extension Passes
Written by tjkraz
Tuesday, September 25, 2007 09:48AM
On Monday, September 24, 2007, DVC held a special meeting at Disney's Contemporary Resort to discuss and ultimately vote upon the proposed 15-year contract extensions for owners at Old Key West. Approximately 30-40 members were in attendance, including the DISBoards' "WebmasterJohn." Following is an overview of the report he filed at the conclusion of the meeting.

• All contracts will be extended from the original expiration date of 1/31/2042 until 1/31/2057.
• The cost will be $25 per point, however DVC is applying a $10 per point reduction (net $15 pp) for those who commit prior to 2/29/2008.
• Owners who do not wish to extend their contracts for the additional 15 years can decline the extension offer. The extra years will essentially be deeded-back to DVC after 1/31/2042.
• There are no additional fees involved in either accepting or declining the extension, and DVC is even going to apply a credit of $30 to the 2008 annual dues of ALL owners to cover any incidental costs incurred in dealing with paperwork related to the extension.
• Extra goodies will be provided to those who commit to the extension including a "Lighthouse Memory Capsule" and a lithograph.
• The extension can be paid in cash, credit card, or financed through DVC at normal terms (10.75% for up to 10 years.)
• DVC will make every attempt to contact all unresponsive owners by the deadline rather than making assumptions regarding their intentions (in other words, they are not simply adopting a policy that those who fail to respond by a certain date will be automatically committed.)
• The extension is a one-time offer. Those who reject the offer will not be able to extend their contract at a later date.
• Prior to 9/24 DVC was selling OKW points for $92 each. After the passing of the resolution, all OKW points purchased through DVC will be priced at $96 each and will include the 2057 contract ending date.

 

[eva]

We did extend and I have the paperwork sitting here to be notarized. Yes, there is a deed extension and the paperwork does need to be notarized. I can't believe you are the only DVC member that has not recieved information by email or mail about the extension. If you are saying that you have received some information, but not enough to make a decision, then it might be wise to call your guide to answer your questions. Since you wrote a letter and had no response, it might be time to call.

 

[rsinj]

I can't believe you are the only DVC member that has not recieved information by email or mail about the extension. If you are saying that you have received some information, but not enough to make a decision, then it might be wise to call your guide to answer your questions. Since you wrote a letter and had no response, it might be time to call.

He received mail about it. He is holding the first mailer which had the postcard you need to return, and simply refuses to return it. He has plenty of information to make an informed decision as he is an active poster on this topic and has read the threads regarding the extension and most likely has done lots of investigation outside this site. He has already made his decision, but instead of following the procedure that DVC has put in place, he will hold out until the very end not telling DVC what his decision is just to see what happens.

DVC92 - I'm more than willing to admit my view of what you are doing is wrong. Just show me otherwise. You are looking for some other information before you can make your decision? Be honest. You've made your decision and are simply looking to stir the pot.

 

[CarolMN]

I am locking this thread - Those who wish to review Board posting Guidelines may do so here.