OKW Extension Form

[OKWKirt]

This may have been discussed before but last night my new DVC advisor (can't remember their exact title right now) called to introduce herself and see how things were going. She asked about the OKW extension and I told her we were going to decline the extension but I had not sent the form back in yet. She said she would take care of noting we were declining per our phone call and I did not have to send the form in. They will send me the paperwork in February along with a $30 certificate of some kind for our trouble in notorizing the paperwork. Not sure if anyone else has been called. I told her the reasons for not extending were the same as most people on the DIS - I'll be in my early 90s with our kids in their 60s, I would rather use the money for points I can use now instead of 30+ years from now, and I have four timeshares two of which are lifetime and not RTU.

 

[dianeschlicht]

Well, maybe that's why I am still waiting for my paperwork too! I started a thread here back in early November about waiting for the paperwork. I'm still waiting, so if your guide said it would be sent in February, they certainly aren't going to give us much time before the price goes up to $25.

 

[OKWKirt]

I'm just guessing but I think if you sent the form or card back to them stating you want to extend then you would be locked in at the lower price no matter when they get the paperwork out. I recall the card said it had to be back by the deadline.

I forgot to mention my DVC guide (that is what they are called, my mind went blank earlier this morning when I said advisor) said something about they would finance the extension and not making a payment until 2009, or something along those lines. She also said some (at our age) are extending so they can leave a legacy to their grandkids. That is why my wife was going to leave it up to our kids if we should extend for the grandkids. But if my youngest will be 54 in 2042 then the grandkids could be around 25-30 so we are doing this for the great grandkids??

 

[dianeschlicht]

I'm just guessing but I think if you sent the form or card back to them stating you want to extend then you would be locked in at the lower price no matter when they get the paperwork out. I recall the card said it had to be back by the deadline.

I forgot to mention my DVC guide (that is what they are called, my mind went blank earlier this morning when I said advisor) said something about they would finance the extension and not making a payment until 2009, or something along those lines. She also said some (at our age) are extending so they can leave a legacy to their grandkids. That is why my wife was going to leave it up to our kids if we should extend for the grandkids. But if my youngest will be 54 in 2042 then the grandkids could be around 25-30 so we are doing this for the great grandkids??

Yep, my feelings as well, and we will NOT be extending unless, of course, those yet to be born great grandkids want to foot the bill!

 

[DisneydaveCT]

Personally, I don't mind if I end up leaving it to adult grandchildren and unborn great-grandchildren. When my daughter takes her grandchildren to WDW after I am gone, she can tell them about their great-grandfather and how he instilled a love of vacationing at WDW in her, which she is passing on to them. And it might give her a chance to pass on more of the family history verbally.

If my unborn grandchildren or great-grandchildren decide when the membership passes on that they don't share my love of visiting WDW they can sell the membership and use the money anyway they want. But for me, I can leave them something that has brought me great joy over the years.

 

[hemispheredancer]

What happens if we decline the extension AND fail to send in the notorized form??? Will they hold my points over my head until I do so? If I say no I don't see why I have to go the extra length to get a stupid paper notorized??

 

[DVC92]

What happens if we decline the extension AND fail to send in the notorized form??? Will they hold my points over my head until I do so? If I say no I don't see why I have to go the extra length to get a stupid paper notorized??

Yes, they will hold the points over your head. Presently, you own the property until 2057 because of the lease extension. They need to get title to the property back. The easiest way to do this is to preclude you from using your points.