OKW Extended Contract

[fordchevyguy]

I am wondering, has Disney ever ROFR on any Extended OKW contracts?

 

[RoseGold]

They ROFR OKW constantly, and extended has always had an underwhelming premium compared to its cost. They're more likely to take 2042, but wouldn't surprise me if they've picked up some extended at some point. I don't think we've seen it on the ROFR board yet, though.

 

[amcnj]

I guess they are focusing on buying 2042 contracts and converting them to 2057?

 

[The Jackal]

I don’t think OKWE is a priority for them. I would think that extending as much to 2057 as possible. But that’s just my opinion. I can’t say I have seen any ROFR’ed, but I haven’t looked too hard at it.
In the current ROFR thread 10 OKW contract got ROFR’ed, 6 OKW 2042 passed and 5 OKWE passed, not one extended was taken.

 

[Ginamarie]

I have seen them take OKWE, yes, though lately, those are selling at a pretty high rate, so they’re less likely to get taken.
I wound up buying at AKL for less than I could get OKWE.

 

[mamaofsix]

Interesting . . . I didn't realize Disney doesn't tend to ROFR the extended contracts. I am eyeing up a few OKW extended myself right now - one listed for $106, one for $112. Seems like a good deal to me, especially if I could offer lower and still not be at too much risk for ROFR.

 

[Sandisw]

I do think they are more likely to take 2042 vs 2057 because it will reduce those contracts.

No one really knows what will happen down the road for those original owners who never signed the extension.

 

[Ginamarie]

Interesting . . . I didn't realize Disney doesn't tend to ROFR the extended contracts. I am eyeing up a few OKW extended myself right now - one listed for $106, one for $112. Seems like a good deal to me, especially if I could offer lower and still not be at too much risk for ROFR.

$106 is a great price for an extended contract. I would definitely bid on that.
I actually did bid on one that was listed for $105-106 range but someone snatched it up before my bid even went in. I have bid about $105-110 on extended contracts but a lot of sellers are looking for $120+ right now and I’m not willing to pay that much when I could buy more AKL points (same expiration) for less money and still be able to stay at OKW anyway,

 

[CarolMN]

I do think they are more likely to take 2042 vs 2057 because it will reduce those contracts.

No one really knows what will happen down the road for those original owners who never signed the extension.

I don't think there are/will be very many unextended contracts left by 2042. It's been reported that Disney will not allow an owner to resell without signing the quiteclaim to the extension. By 2042, I doubt there will be any owners left who didn't sign the quit claim and still own their pre-extension contract, The extension was offered in 2007. I'm sure there will still be a few, but by 2042, they will have had to owned OKW for at least 35 years, so I don't think very many

 

[Ginamarie]

I don't think there are/will be very many unextended contracts left by 2042. It's been reported that Disney will not allow an owner to resell without signing the extension. By 2042, I doubt there will be any owners left who didn't sign the extension and still own their pre-extension contract, The extension was offered in 2007. I'm sure there will be a few, but by 2042, they will have had to owned OKW for at least 35 years.

People resell 2042 contracts regularly and there’s no extension signed.
You may be shocked at how few of the owners in 2007 signed the extension. I’m sure Disney wants to try to minimize how many contracts will expire at OKW in 2042 but I don’t think they’re going to get close to buying/reselling all of them.

 

[CarolMN]

People resell 2042 contracts regularly and there’s no extension signed.
You may be shocked at how few of the owners in 2007 signed the extension. I’m sure Disney wants to try to minimize how many contracts will expire at OKW in 2042 but I don’t think they’re going to get close to buying/reselling all of them.

I misspoke. I meant that it's been reported that to sell, an owner has to sign the quit claim to the extension. I didn't mean they had to sign & pay for the extension. Sorry for the confusion.

I will correct my post, but leave the original in the quote so your reply makes sense. Thanks for pointing it out. I'm off to refill my coffee.

 

[The Jackal]

Last time I checked over 27% ( probably around 30% now) of all points at OKW were extended. How much will be at 2042? Only the magic 8 ball knows.

 

[_auroraborealis_]

To sell a 2042 they have to sign a quit claim.

I don't know what happens if a 2042 contract is in an estate. Does the quit claim have to happen to clear probate? I find that doubtful but IANAL.

 

[Ginamarie]

To sell a 2042 they have to sign a quit claim.

I don't know what happens if a 2042 contract is in an estate. Does the quit claim have to happen to clear probate? I find that doubtful but IANAL.

I don’t see why it would be a problem.
For an estate to sell theDVC contract, they would need an executor or administrator to have already been appointed and that person would be authorized to sign the quit claim the same as signing over the deed to the new purchaser.

 

[RoseGold]

Disney’s position at the time of the extension is that you either had to pay them for the extension or sign a quitclaim. It was Disney’s responsibility to get the quitclaim, and there are some quite aggressive stories.

There are certainly a significant amount of buyers that haven’t responded at all, maybe they own it in a trust or whatever. There are a lot of reasons you might have never responded.

 

[_auroraborealis_]

I don’t see why it would be a problem.
For an estate to sell theDVC contract, they would need an executor or administrator to have already been appointed and that person would be authorized to sign the quit claim the same as signing over the deed to the new purchaser.

My issue is less about "estate sell a contract" as "when the name on the deed is changed does the new deedholder have to sign a quitclaim?" Inheritance is not a sale.

 

[Ginamarie]

My issue is less about "estate sell a contract" as "when the name on the deed is changed does the new deedholder have to sign a quitclaim?" Inheritance is not a sale.

Ah- I was thinking of the estate selling the property rather than it being inherited.
It depends if Disney needs to approve a name change on a deed or not. I am guessing that the quit claim issue arises at the time the estoppel is issued in a sale, and that shouldn’t be triggered by a name change. The distributees would just step into the place of the decedent and then Disney could only ask for the quit claim if they want to sell the property.

 

[gisele2]

I guess they are focusing on buying 2042 contracts and converting them to 2057?

That is the most likely hypothesis.

 

[Arthur2990]

All OKW contract bough back by DVC get converted to 2057 contracts upon resale.