OKW Opt Out Quit Claim

[DVC OKW]

I have never opted out of the offer to extend my contract the extra 15 years. Today I received a quit claim deed in the mail from WDW, and they ask me to sign and return. The deed says I am receiving ten dollars in consideration of my signature. My question is why do I have to do this? What can WDW do if I opt not to sign the deed? Thanks

 

[Kathi OD]

I have never opted out of the offer to extend my contract the extra 15 years. Today I received a quit claim deed in the mail from WDW, and they ask me to sign and return. The deed says I am receiving ten dollars in consideration of my signature. My question is why do I have to do this? What can WDW do if I opt not to sign the deed? Thanks

Not sure, but here's another thread with the same question.

http://www.disboards.com/showthread.php?t=2393247

 

[Deb & Bill]

I have never opted out of the offer to extend my contract the extra 15 years. Today I received a quit claim deed in the mail from WDW, and they ask me to sign and return. The deed says I am receiving ten dollars in consideration of my signature. My question is why do I have to do this? What can WDW do if I opt not to sign the deed? Thanks

Maybe send you a bill for the extension?

 

[Dean]

I have never opted out of the offer to extend my contract the extra 15 years. Today I received a quit claim deed in the mail from WDW, and they ask me to sign and return. The deed says I am receiving ten dollars in consideration of my signature. My question is why do I have to do this? What can WDW do if I opt not to sign the deed? Thanks

As I read the legalities, they really can't do anything. They do not have the authority within the paperwork to enforce such a special assessment for this reason. Technically if one never signed I think they'd be able to get the extension without cost looking at the POS and state timeshare statutes in their aggregate. However, one would have to decide whether it's worth fighting a legal fight to enforce that interpretation and it likely isn't for most people.

 

[RobDoc]

I asked the same thing at the Member's Meeting when they had a special session just for OKW owners (December, 2007). The answer given was that they would place a lien on the account. Obviously, that has not happened yet.

I agree with Dean that this might be something you could win in court, but do you really want to pay for that challenge? They already gave all OKW owners a $15 credit on their 2008 annual fees so it sounds as though you're getting an additional $10 benefit.

Good luck with your decision!

 

[chalee94]

However, one would have to decide whether it's worth fighting a legal fight to enforce that interpretation and it likely isn't for most people.

yep, disney has pretty deep pockets to pay for lawyers.

but from a simple decency standpoint, was it was unclear when you signed on that the contract expired in 2042? you're not losing anything if you're the sort of person who makes agreements in good faith...

 

[scot@dvcstore]

If for any reason you need to sell your membership and Disney has not received a signed and notarized Quit Claim Deed, you will be charge the extra $15 per point. If you return the QCD, it avoids any further issues should you need to sell.

 

[Dean]

yep, disney has pretty deep pockets to pay for lawyers.

but from a simple decency standpoint, was it was unclear when you signed on that the contract expired in 2042? you're not losing anything if you're the sort of person who makes agreements in good faith...

Yes and no. I read the contract which has several components as I understand it. One that the ground lease actually determines the end date, two that the then "current" expiration date was 2042 and three, that an extension could happen. Also, as I read the POS, there is no authority to generate or collect a special assessment for such an issue. The good faith argument works on both sides and I've kept mine, the question of good faith is one DVD's side given what I've just posted.

I've acknowledged in the past that they have a difficult task to come up with a method for the extension and get enough people to participate. The reality is that the extension was overpriced and in the long run, it was likely more cost effective for them to offer the extension for free and get around 100% participation thus guaranteeing the control of fees and keeping the entire resort open later in the game.

I have no problem with them extending and charging, my issue is the strong arm tactic that I do not see as allowed contractually. I can guarantee you that if I owned OKW still, we'd find out for certain how the lawyers would handle this issue OR I would have had mine for free.

 

[CarolMN]

If for any reason you need to sell your membership and Disney has not received a signed and notarized Quit Claim Deed, you will be charge the extra $15 per point. If you return the QCD, it avoids any further issues should you need to sell.

Even if it turns out that they legally can't charge you for the extension, I would not want the hassle when I am trying to sell. This issue could hold up a sale for a long time. What buyer would want to stick around and deal with that when there would be so many other alternatives?

For this reason alone, I would just sign and return as requested.

 

[MsRem]

Our sellers had not signed the quit claim until closing. They signed it with all the closing documentation and it didnt hold it up at all.

 

[Nahanni]

Is the Quit Claim Deed something that would be filed on the OCC site?

We bought 2042 expiry but there is almost no reference to expiry date anywhere in our purchase documents, only one line in the title insurance.

 

[Chuck S]

Is the Quit Claim Deed something that would be filed on the OCC site?

We bought 2042 expiry but there is almost no reference to expiry date anywhere in our purchase documents, only one line in the title insurance.

Yes. The original owners would be listed as Grantor, Disney Vacation Development is Grantee.

 

[dianeschlicht]

Anyone who has not signed the quit claim can do so easily just by calling their guide the next time you travel to Disney. We visited our guide and signed our quit claim a couple years ago, and it took all of about 30 seconds.

 

[normr]

The last time we were there, they called me up and arranged an appointment to come over to the offices at SSR to sign mine, they even gave us a set of special fast passes since we took the time out of our stay to do it.