Old Key West Extension question

[Jim Ousley]

I have a question for any Old Key West Purchases.

They offered and extension years ago.

Are there any current owners who have extended recently after buying a non extended contract?

Do they let you pay the 25.00 per point now if you own a non-extended contract?

 

[_auroraborealis_]

You cannot currently extend. That offer is long over.

 

[Bbguy5]

Yea it's gone. Any new direct points you buy are good to 2057 though.

 

[Dean]

You cannot currently extend. That offer is long over.

Yea it's gone. Any new direct points you buy are good to 2057 though.

There was a report about 2 maybe 3 years ago about a resale owner being allowed to extend. We postulated it was possibly due to the original owner had never completed the deed over but I don't believe confirmation was ever forthcoming. I don't recall a report of someone asking but being told no since then either.

 

[Wakey]

I saw someone saying every trip, Disney were bothering him saying he must sign some sort of waiver that he hasn't exercised the extension option and that he agrees his contract ends on the original date. He said he wasn't signing anything, he had already bought his contract and had no responsibility to agree anything else. Disney continues to bother him, so in the end his lawyer told them he was not signing and to go away which they did.
If true, curious as to why there would be such persistence in trying to get this signed.

 

[chalee94]

What's complicated? If he never signs, then he either gets the extension for free or disney's lawyers have to regroup for a fight around 2042.

 

[Bbguy5]

I talked to my guide today. He said it may still be possible. Going down in November. If I can extend I will and report back.

 

[okw2012]

Hello @Bbguy5 , just wondering what your guide told you?

 

[Bbguy5]

Hello @Bbguy5 , just wondering what your guide told you?

No go

 

[okw2012]

 

[okw2012]

I'm thinking of selling our HHI contract and buying a contract that goes beyond 2042. I guess it will have to be SSR then.

 

[Jason@dvcstore]

I saw someone saying every trip, Disney were bothering him saying he must sign some sort of waiver that he hasn't exercised the extension option and that he agrees his contract ends on the original date. He said he wasn't signing anything, he had already bought his contract and had no responsibility to agree anything else. Disney continues to bother him, so in the end his lawyer told them he was not signing and to go away which they did.
If true, curious as to why there would be such persistence in trying to get this signed.

Disney tried to get all owners to sign saying they either wanted the extension or were denying the extension. When an Old Key West seller lists their property with The Timeshare Store, Inc.® we have to find out from Disney if they have denied the extension or if they haven't denied the extension. If they haven't denied the extension then in order to get the property listed they have to deny it first.

 

[Wakey]

Disney tried to get all owners to sign saying they either wanted the extension or were denying the extension. When an Old Key West seller lists their property with The Timeshare Store, Inc.® we have to find out from Disney if they have denied the extension or if they haven't denied the extension. If they haven't denied the extension then in order to get the property listed they have to deny it first.

Interesting. I assume that's your rule which makes sense.
Suppose the question is, if someone doesn't do anything and just hangs onto it, can they continue to use beyond 2042.

 

[Jason@dvcstore]

Interesting. I assume that's your rule which makes sense.
Suppose the question is, if someone doesn't do anything and just hangs onto it, can they continue to use beyond 2042.

It isn't our rule. If the seller wants to sell their 2042 Old Key West resort they have had to deny the extension. If they haven't Disney will charge them for the extension. We have never had a seller that then wants to pay for the extension and sell their property as an 2057 expiration.

 

[momtwoboys]

we just bought a OKW resale that expires in 2042 and this was never even brought up. We are fine with the end date, or we would not have bought it. I'm just guessing that ours will be done in 2042 and thats that.

 

[rg35]

we just bought a OKW resale that expires in 2042 and this was never even brought up. We are fine with the end date, or we would not have bought it. I'm just guessing that ours will be done in 2042 and thats that.

As a resale buyer none of this discussion is really applicable. You either buy a 2042 contract or a 2057 contract as-is.

 

[momtwoboys]

As a resale buyer none of this discussion is really applicable. You either buy a 2042 contract or a 2057 contract as-is.

perfect thanks!!!!

 

[Dean]

I'm thinking of selling our HHI contract and buying a contract that goes beyond 2042. I guess it will have to be SSR then.

If the HHI contract is working for you, why not just wait for now and reevaluate as you get closer. And if you need more points, why not just add to what you own. The ONLY way I'd suggest selling and rebuying is if the current ownership is not working for you in some way. I would not do so just to have the later expiration down the road. You'll lose the perks you currently have assuming you didn't buy this recently or you'll have to pay retail prices.

 

[minorthr]

It isn't our rule. If the seller wants to sell their 2042 Old Key West resort they have had to deny the extension. If they haven't Disney will charge them for the extension. We have never had a seller that then wants to pay for the extension and sell their property as an 2057 expiration.

I'm curious if you purchase an extended OKW contract how can you confirm its actually extended after the sale closes and is recorded ?

 

[Jason@dvcstore]

I'm curious if you purchase an extended OKW contract how can you confirm its actually extended after the sale closes and is recorded ?

The best way would be to call Disney to confirm it expires 2057. We, of course, put the 2057 expiration on the agreement between buyer and seller. If it were to expire 2042 Disney would get the contract back until it correctly stated 2057.

The 2057 date or even the 2042 date are not on the deeds.