OKW Extension Letter

[DGY]

I just received a letter from DVC that suggested I have an obligation to the association to either accept the extension or send a notarized document deeding it to the developer.
Can they really force me to do anything? I am not interested in accepting this offer, for I believe, as many others do, that it does not make financial sense, and that the risks outweigh the potential benefits, etc.
However, I would rather "ride the fence" and wait for any additional offers to come along rather than sign away any potential future claim. What would happen if I just ignored the whole thing at this point?

Doug, Nancy, Colin, & Audrey - OKW members since 1996

 

[CarolA]

Actually if you read the first thing you got it's basically 'negative' response. So if you don't sign your deed over to Disney for the extra years the assumption is you want it.
Now I expect they will call, write etc several times before they do that, but just ignoring them is probably NOT a good idea.

The way the bylaws were changed they can place a lein against your membership if you don't say NO.

I don't think the offers are going to get better. They don't want those people who did sign going after them LOL!

 

[Saratoga Souris]

It seems simple to me. If you don't want it - sign the papers and return them. IMHO it is just common courtesy; if you are invited to do something, you accept or decline.

 

[DGY]

Yes; I should probably re-read the original offer. I figured I'm more likely to get an unbiased opinion from experts on this site than from DVC - they just want a sale.

The fact that they would employ such a hardball tactic as placing a lien makes my decision to decline add'l investments even better.

 

[RobDoc]

I just received a letter from DVC that suggested I have an obligation to the association to either accept the extension or send a notarized document deeding it to the developer.
Can they really force me to do anything? I am not interested in accepting this offer, for I believe, as many others do, that it does not make financial sense, and that the risks outweigh the potential benefits, etc.
However, I would rather "ride the fence" and wait for any additional offers to come along rather than sign away any potential future claim. What would happen if I just ignored the whole thing at this point?

Doug, Nancy, Colin, & Audrey - OKW members since 1996

I asked about this at the Annual Meeting and was told they will exhaust all means of contacting owners before placing a lien on the membership.

If you want to wait (expect to get a number of further letters and probably even a phone call in the meantime ), there isn't likely to be any immediate issue - but eventually they will restrict the use of your membership until the deed is signed over to DVD.

I'd be very surprised if the "offer" was favorably changed - in less than 2 weeks the price will go up $10 per point per the resolution accepted last September - but I doubt anything would happen if you "just ignored the whole thing at this point".

The documents required to decline the offer have not even been printed yet and are not expected to be mailed for another several weeks - so most will not even get the required paperwork until April at the earliest. They certainly aren't likely to do anything to a member who has not declined at least until April and possibly for months afterwards.

At this time, all OKW contracts have been extended until January 31, 2057. It is up to each owner whether to pay for that extension or sign the deed over to DVD.

I have no doubt that eventually, they will require the signed documents or will make it difficult to use the membership.

Stay tuned.