OKW Extension Papers & Lockout Mentioned

[Maistre Gracey]

I just bought a resale at OKW from DVC By Resale. Started end of February, made final payment on April 2nd. Received my new Member card last week but nothing else from Disney. This is the first I've heard of extending the contract. Just got back from Disney last night. Wish I would have known while I was down there. I'm assuming I wont hear anything from DVC until a Deed in my name has been recorded. Help! What should I do? Just wait to hear from Disney? I've booked the points for a California trip in July.

It may be possible the old owner already declined??
I see you started in February, and I'm not really sure of the time frame...

MG

 

[KKCannon]

Thanks, MG. I'll give them a call as soon as I have a free moment.

 

[ZekeKelso]

This was a complaint I initiated with the Florida Timeshare Bureau concerning the extension. Responding to the complaint, DVD agreed to provide a developer subsidy to all members who elect to not participate in the extension.

The owners of OKW, and DVC in general owe you a huge dept of gratitude. I hope the events and decisions are all made public.

The way the OKW deal was handled stinks. Forcing folks to take action to not buy something is the most visible problem. But the reserve fund was really the important one. Assuming Disney follows through on their promise, it's nice to see the 2042 membership won't get stuck.

 

[CarolMN]

Too bad my DH and I can't get our signatures notirized separately.

That is what is hanging up the paperwork. He works in the city and can easily find a notary there. I go to the bank at least once a week and can do it around here. Notaries everywhere. But we are never near a notary together at the same time.

When we do go out together, it is Sunday and we are going to church. Hmmm... I might have to start asking around to see if anyone in the congregation is a notary!!

I'm not an OKW owner, so I haven't seen the paperwork. But are you sure that you both have to sign at the same time?

Why can't you have your signature notarized and then your DH can take the documents and have his signature notarized (or vice versa)? I doubt that there is a legal requirement for you both to sign at the same time and place with the same notary. Why not call DVC and ask them? Might save you some time and grief.

 

[CarolA]

I'm hoping someone takes them to task on this issue as I don't think this is a legal battle DVC can win.

I think they can. Basically it's a "special assessment" and as owners we can be made to pay. It's not that different from the neighbor my HOA is sueing becasue she won't pay her special assesment for the pool (She claims she voted no, the vote was rigged and/or she shouldn't have to pay because she never uses the pool.... depends on the day of the week why she's not paying, but.... )

(I have got to call and get a new set of papers. I lost mine!)

 

[SleepyatDVC]

I'm not an OKW owner, so I haven't seen the paperwork. But are you sure that you both have to sign at the same time?

Why can't you have your signature notarized and then your DH can take the documents and have his signature notarized (or vice versa)? I doubt that there is a legal requirement for you both to sign at the same time and place with the same notary. Why not call DVC and ask them? Might save you some time and grief.

Well, there are 2 lines on one side for both our signatures and only one space for the notary on the other side.

I would guess I could photocopy the agreement and just have each one of us sign one copy with different notaries.

Something that I would need to call MS to ask about... when I get around to it.

 

[Dean]

I think they can. Basically it's a "special assessment" and as owners we can be made to pay. It's not that different from the neighbor my HOA is sueing becasue she won't pay her special assesment for the pool (She claims she voted no, the vote was rigged and/or she shouldn't have to pay because she never uses the pool.... depends on the day of the week why she's not paying, but.... )

(I have got to call and get a new set of papers. I lost mine!)

The reason I don't think it'd hold up is that in reading the POS, there is no power to charge or collect such a SA. There are very specific things that a SA can be charged for and this does not fit into any of the categories.

 

[BobH]

I find it hilarious that Disney's answer to your complaint was to say that it (DVD) had already agreed with the association to provide a subsidy at some point to make up for the money to relieve 2042 owners from paying money to fund capital improvements after thier contracts ran out in 2042. This is nuts. First of all they are agreeing with themselves. Disney Vacation Development and the DVC association are for all intents the same entity. This is tantamount to having a conversation with themselves in which they say they agree to not charge members for capital improvements after the time that their contracts expire. I think it is time for Jim Lewis to hit the road. This whole affair gets more idiotic by the minute and it seems to have come up since his administration started. Thank you DVC92 for the insights and information.

 

[DVC92]

I find it hilarious that Disney's answer to your complaint was to say that it (DVD) had already agreed with the association to provide a subsidy at some point to make up for the money to relieve 2042 owners from paying money to fund capital improvements after thier contracts ran out in 2042. This is nuts. First of all they are agreeing with themselves. Disney Vacation Development and the DVC association are for all intents the same entity. This is tantamount to having a conversation with themselves in which they say they agree to not charge members for capital improvements after the time that their contracts expire. I think it is time for Jim Lewis to hit the road. This whole affair gets more idiotic by the minute and it seems to have come up since his administration started. Thank you DVC92 for the insights and information.

The reserve funds presently collected are for items that have useful life expectencies of up to 30 years in the future. As the number of years for these items begin to overlap 2042 (obviously, that time hasn't arrived yet), the non-extenders should only be required to pay for the number of useful years through 2042 and not beyond. DVD should subsidize the rest. As 2042 approaches, the subsidy should increase yearly, reducing 2042 members' dues. At least, that is my interpretation. DVC needs to be forthcoming about the subsidy and how it will be implemented.

 

[BobH]

In view of the lack of formal explanation of any of this by Disney, it may be interesting to see if they put a subcategory on the annual budget statement to indicate what capital reserves are dedicated for years beyond 2042 - or if they just make another agreement with themselves to do it another way. I guess I should not be suprised at any of this, after all the original public offering statement did indicate that Disney could even terminate the existence of one or all of the resorts if they determined it was necessary.
I still like the concept behind this "right-to-use" timeshare, but this experience
definitely highlights the fact that Disney holds all the cards and will do whatever it sees fit, and provide little explanation.

 

[5forDiz]

I just bought a resale at OKW from DVC By Resale. Started end of February, made final payment on April 2nd. Received my new Member card last week but nothing else from Disney. This is the first I've heard of extending the contract. Just got back from Disney last night. Wish I would have known while I was down there. I'm assuming I wont hear anything from DVC until a Deed in my name has been recorded. Help! What should I do? Just wait to hear from Disney? I've booked the points for a California trip in July.

We'd respectively suggest KKCannon that you call DVC Admin & get answers although we are now on our 3rd phone call to DVC asking about this.
(we've a rather lengthy post on this board on 5/22/08 about this)

When we closed our OKW resale on Feb 7 we called DVC Administration asking about extension, etc. We were told by DVC that we, as the new owners of the contract, would be sent info concerning extending to 2057 or we'd need to do the 'official declining'. After weeks passing and not receiving anything we called again and DVC again told us same ( ' you will be getting paperwork shortly ' ). Still nothing.

Now awaiting reply on ' call 3 ' - - really want answers more definite than ' oh don't worry you will be getting it . . . etc ' and also we're not comfortable that when we asked DVC if perhaps it is possible the previous contract owner got the ' "official" sign, notarize & decline document ' that posters here seem to have been receiving in past month ? well they couldn't say for sure and also couldn't give us an answer about what that could mean if the previous owners NOW sign, notarize & decline on this contract that they no longer own.
In our humble, uneducated legal opinion we would HOPE that it would be void - WE should be the party who formally declines and provides document to that effect since we are the contract owners since Feb. 7.

 

[BobH]

I have a close friend that recently moved across the state. I emailed him and asked if he had been notified of the extension offer. He said he had recieved no paperwork. He called Disney Administration and they admitted that they had forgotten to notify him, even though he had provided them with a change of address last fall. They stated the papers would now be sent out and admitted that a lot of complaints are coming in to Disney. It was obvious to both my friend and I that the nice (and unfortunate) Disney representatives that are fielding these calls are being overwhelmed. If this is indeed the case it would have been far wiser for Disney to have refrained from any mention of a "lockout" until they had a system in place to handle the whole debacle. I would highly recommend spending a few dollars and sending any correspondence by certified mail, signature required so there is proof that you have complied with the requirements, until Disney is able to demonstrate that they can handle and record all their correspondence regarding the extension. Ask for names when you speak to someone. I find that always makes people more accountable for their actions and statements.

 

[dcamdad]

We had originally decided to decline the extension and have received the paperwork to do so. Last week at dinner DW and I were discussing getting the paperwork notorized when my DS 16 said he would like to pay for the extension out of his summer job money if we would transfer our ownership to him by 2040 (if were still alive). DW and I discussed it and agreed to transfer it to him as requested if he could pay for the extension by Sptember 1. which he agreed for me to hold so much per week out of his check as payment.

Now I hear that DVD may start locking owners out if not returned by an undisclosed date. I do not ever remember seeing any deadline given by dvd when the extension was first offered, only the special financing option was given a deadline. With 4 attornys in my immeadiate family legal advice is easy to come by and all four have looked at all my closing paperwork and researched Florida time share laws and all agree that dvd would opening up a large class action suit if they lockout owners, particularly owners whose contracts have been paid in full (like ours) and are current on all fees and dues. There is no legal backing to change a ratified contract by both parties after all payments on any contract are completed.

It will be very interesting if when I call next month for 11 mos ressies if I get told I am locked out.

 

[5forDiz]

Yes, DVC does sound like they have their hands full. To their credit though I will say that our calls were always handled respectfully and politely even if we are not getting 'exactly or definitely this' type of replies.

 

[BobH]

I agree that the people that have anwered the phones lately have been doing all they could. In fact I was very suprised when they actually encouraged both my friend & I to contact upper level managment and complain about how the OKW situation was handled. This is the first time I have ever experienced a Disney representative to depart from the "party line."
However, from DVC92 statements about unanswered letters to Jim Lewis I have the feeling that further complaints may not be answered. If he does not want to answer them himself he could at least delegate a department to handle them. Lots of luck with this one!

 

[BWV Dreamin]

My brother closed on a resale OKW contract in April. He hasn't recieved any paperwork either. He called yesterday, and they did say they didn't have him on the list to mail out paperwork. Hmmm......now what about all the resales? They are sending him out the paperwork now.

 

[5forDiz]

seems like getting this out to recent purchasers is a detail that DVC kinda shuffled to the bottom of the deck so to speak.

 

[JimC]

Thursday afternoon we went over to the Preview Center to take care of the paperwork on the quit claim deed. It took about fifteen minutes. We got cookies and lemonade before and ice cream after. And they do not charge for the notary.

 

[5forDiz]

and return by mail although stopping in at SSR to do this in person is an interesting alternative especially if what we read happens in next couple of weeks re possibility of CR villas model soon to be available to tour . . .and not gonna lie we love lemonade & ice cream too !

 

[rsinj]

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