OKW direct now all extended?

[wdrl]

Thanks, this is important information. My question pertains to how this is treated in resale contracts going forward. Supersnoop said above that I should see a quit claim deed in my closing packet. I don't. So as a new owner of a resale OKW contract, what is my obligation with regards to the extension?

The simplest, most direct thing for you to do is to call Member Services and ask them to explain the status of your deed.

As others have posted, in all likelihood the previous owner has filed a quitclaim deed with Disney which turned the last 15 years of the OKW ownership back to Disney. I can't say for certain if the quitclaim deed would/should be part of your closing packet because the quitclaim is actually between the previous owner and Disney.

The quitclaim deeds are part of the public record that is accessible on the Orange County Comptroller's website. If the previous owner signed a quitclaim deed, then you'll find it on the OCC website.

Searching the OCC website (see http://or.occompt.com/recorder/eagleweb/docSearch.jsp) for a quitclaim deed is quite easy. Once you get to the search page, enter the following information:

Grantor: Previous owner's name in LastName FirstName format. Be sure the name is spelled correctly (note: you can leave off the FirstName but you might get many more hits, especially if the LastName is common).

Grantee: Disney

Document type: On the right margin, unclick the box to select a specific document type. A menu will appear of the different document types. Select Deed.

The OCC system will return all the documents meeting the search criteria. You can scan through all the record(s) and find the one you need. A Quitclaim Deed is easy to identify because it clearly says Quitclaim Deed. You can download an uncertified copy of the record as a PDF.

If the number of hits is too many, you can narrow the search be entering a range of dates. I would use a date range starting about 60 days before your closing date to the today's date. If there is a Quitclaim deed, you should find it.

 

[Dean]

Thanks, this is important information. My question pertains to how this is treated in resale contracts going forward. Supersnoop said above that I should see a quit claim deed in my closing packet. I don't. So as a new owner of a resale OKW contract, what is my obligation with regards to the extension?

It's likely the previous owner deeded back the 15 years and if so, and this is the owner at the time, Tim's method should show you that info. It really doesn't matter unless you want to try to extend yourself, something I wouldn't recommend at OKW for 15 years on the backend

 

[chalee94]

Supersnoop said above that I should see a quit claim deed in my closing packet. I don't. So as a new owner of a resale OKW contract, what is my obligation with regards to the extension?

The quitclaim referred to would only be seen by owner/seller who had not already declined their interest in extending to 2057.

As a new OKW-2042 resale buyer, you would have no obligation to extend. Your interest will expire in Jan 2042.

(If you really wanna pay $25 per pt for points you won't have until the 2040s, I suspect DVC will be willing to make a deal.)