"Owning" DVC?

[Paul Stupin]

I think this was the original point of marketing genius. The combination of using the term timeshare (meaning ownership forever and rights for use for a period of time) and going through the hoops to file a warranty deed is filed with the state, seems to equal true ownership to "buyers" (but really leasees). Also, the American way is to "own" so here we have "ownership"...just without actual ownership. lol

You seem less genuinely interested in how the term came into vogue, and more genuinely interested in denigrating the product itself, no? Call me crazy, but I actually don’t find splitting hairs on the legal invalidity of using the term ”ownership” as it pertains to DVC hilarious at all. It’s just annoying.

 

[beamreach]

You seem less genuinely interested in how the term came into vogue, and more genuinely interested in denigrating the product itself, no? Call me crazy, but I actually don’t find splitting hairs on the legal invalidity of using the term ”ownership” as it pertains to DVC hilarious at all. It’s just annoying.

I see shirts in resorts that say "DVC MEMBER"...I call "member services"...I have a "membership number"....so please pardon my surprise when I hear claims of Disney resort ownership left and right. It's not anything about denigrating the DVC product itself, which I actually know nothing about really other than what I see from Disney YouTubers; we bought recently and our experience thus far is grayed-out charts for the rest of the year (GFV, BWV, BC)...yet, somehow I was able to book DVC rooms on the cash side previously. Alas, we will still be lowly hotel guests for the rest of the year, although I must say we looking forward to the purple circle at the park entrances!

 

[Sandisw]

I see shirts in resorts that say "DVC MEMBER"...I call "member services"...I have a "membership number"....so please pardon my surprise when I hear claims of Disney resort ownership left and right. It's not anything about denigrating the DVC product itself, which I actually know nothing about really other than what I see from Disney YouTubers; we bought recently and our experience thus far is grayed-out charts for the rest of the year (GFV, BWV, BC)...yet, somehow I was able to book DVC rooms on the cash side previously. Alas, we will still be lowly hotel guests for the rest of the year, although I must say we looking forward to the purple circle at the park entrances!

Those cash rooms are there because other owners traded out their points to use at other places and their rooms goes with them, Or, they are rooms booked by DVc who rented them out as they too are an owner. They could be breakage rooms too.

Again, part of the program.

 

[Paul Stupin]

I see shirts in resorts that say "DVC MEMBER"...I call "member services"...I have a "membership number"....so please pardon my surprise when I hear claims of Disney resort ownership left and right. It's not anything about denigrating the DVC product itself, which I actually know nothing about really other than what I see from Disney YouTubers; we bought recently and our experience thus far is grayed-out charts for the rest of the year (GFV, BWV, BC)...yet, somehow I was able to book DVC rooms on the cash side previously. Alas, we will still be lowly hotel guests for the rest of the year, although I must say we looking forward to the purple circle at the park entrances!

Well, first, welcome to the club! Did you do any research prior to your purchase?

 

[sndral]

I see shirts in resorts that say "DVC MEMBER"...I call "member services"...I have a "membership number"....so please pardon my surprise when I hear claims of Disney resort ownership left and right. It's not anything about denigrating the DVC product itself, which I actually know nothing about really other than what I see from Disney YouTubers; we bought recently and our experience thus far is grayed-out charts for the rest of the year (GFV, BWV, BC)...yet, somehow I was able to book DVC rooms on the cash side previously. Alas, we will still be lowly hotel guests for the rest of the year, although I must say we looking forward to the purple circle at the park entrances!

If you bought direct have you called member services & asked for help w/ booking your first visit - they’ll usually help a new direct member w/ that first booking. Riviera just declared another unit & VGF is opening booking in the new building for all members on 5/13, so there’s a chance at more availability at those resorts.

 

[beamreach]

Well, first, welcome to the club! Did you do any research prior to your purchase?

Yes, I watched enthusiastic YouTubers. We go to WDW monthly (young daughters...) so figured DVC was worth a spin, but I must say the hotels seem much easier to book. Now I see we basically have to know what dates we want to head over to WDW in March 2023. If it's too much of a hassle, we can always unload them...but going to give it a whirl.

 

[beamreach]

If you bought direct have you called member services & asked for help w/ booking your first visit - they’ll usually help a new direct member w/ that first booking. Riviera just declared another unit & VGF is opening booking in the new building for all members on 5/13, so there’s a chance at more availability at those resorts.

I tried to call them, but I don't have 3 hours to wait on hold. I also feel bad groveling. I bought Direct because it was so much easier. Resale seems the way to go if you have the time and energy.

 

[Paul Stupin]

Yes, I watched enthusiastic YouTubers. We go to WDW monthly (young daughters...) so figured DVC was worth a spin, but I must say the hotels seem much easier to book. Now I see we basically have to know what dates we want to head over to WDW in March 2023. If it's too much of a hassle, we can always unload them...but going to give it a whirl.

Don’t be too negative yet! You might end up really enjoying it.

 

[john7994]

I tried to call them, but I don't have 3 hours to wait on hold. I also feel bad groveling.

Yes, I watched enthusiastic YouTubers. We go to WDW monthly (young daughters...) so figured DVC was worth a spin, but I must say the hotels seem much easier to book. Now I see we basically have to know what dates we want to head over to WDW in March 2023. If it's too much of a hassle, we can always unload them...but going to give it a whirl.

That was a big mindset shift for me as well. To the earlier idea of ownership, one can get the impression that since I own, I therefore should be able to access resorts / rooms.

 

[Maistre Gracey]

I guess I don’t feel it’s that odd, since 50 years is a really long time. Lots of things you own have a lifespan under 50 years - say automobiles.

You still own the automobile until you sell it…regardless of age.

 

[Maistre Gracey]

But, that is where we may differ, I do own it. I just give It back to them in the end.

I was a Member for years, but knew I never really owned it. I considered it a long term lease.

 

[Maistre Gracey]

Can someone please explain this nomenclature of "owning" DVC? I hear this on podcasts, YouTube, and blogs all the time, folks asserting their "ownership" interests, "owning here or there." As I see it, my contracts represent a de facto flexible long-term annual rental (not a regular timeshare), wherein I am charged additional dues and costs as I would be in a typical country club. Things we own do not have an expiration date. Regular deeded timeshares in the US may have an expiration date, but that is the termination of the resort as a timeshare but not the ownership in the resort itself. In DVC, the expiration date terminates BOTH the resort as a timeshare and the ownership interest.

I agree. Never understood how you could “own” something for only xx amount of years, than had to GIVE it back.

That said, I enjoyed my “membership” very much when I was a member, but I always understood I never TRULY owned it.

Legal folks can correct me on that, but regardless of the legalize, if I have to give it back I don’t truly own it.

Caveat emptor: I lease my cars and live doing so.

 

[Sandisw]

I agree. Never understood how you could “own” something for only xx amount of years, than had to GIVE it back.

That said, I enjoyed my “membership” very much when I was a member, but I always understood I never TRULY owned it.

Legal folks can correct me on that, but regardless of the legalize, if I have to give it back I don’t truly own it.

Caveat emptor: I lease my cars and live doing so.

Because you agree to buy it and gratuitous transfer it back to Disney in the end…or, like them being a beneficiary of your estate.

Just not sure how giving it back equates to not owning it since if I sell it before hand, I didn’t give it back to them.

I lease cars as well but I can’t sell it to anyone else during the terms of it. Because I don’t own it..I don’t get title to it.

 

[Ashlotte]

I see shirts in resorts that say "DVC MEMBER"...I call "member services"...I have a "membership number"....so please pardon my surprise when I hear claims of Disney resort ownership left and right. It's not anything about denigrating the DVC product itself, which I actually know nothing about really other than what I see from Disney YouTubers; we bought recently and our experience thus far is grayed-out charts for the rest of the year (GFV, BWV, BC)...yet, somehow I was able to book DVC rooms on the cash side previously. Alas, we will still be lowly hotel guests for the rest of the year, although I must say we looking forward to the purple circle at the park entrances!

Does Disney ever use the term “owners” or do they always say “members”? Other timeshares are owned forever. My guess is that terminology informally just spilled over to this timeshare by DVC members.

 

[sethschroeder]

Things we own do not have an expiration date.

In Europe you have a thing known as a hereditary building right which basically means you only retain control for a certain number of years.

People would view themselves owning their home but you would not consider that ownership.

Ownership does not mean you will forever more have controlling rights of something. It simply means you have control of said thing at that time with no ability of another entity from revoking access unless you choose to give up your control.

Example renting a property is not the same as buying a pre-determined expiration date property. With rentals the renting company owns the product and can typically revoke your access at their discretion (but may need to pay you something for revoking access). However with DVC Disney can't just show up at your door and tear up your deed.

Further the controls in place regarding upkeep as an example are just larger than a HOA but you personally have no control over your HOA either. You can appeal to them but the HOA is a collection of all owners (in this case the HOA board of directors is simply always going to be Disney).

 

[Sandisw]

Does Disney ever use the term “owners” or do they always say “members”? Other timeshares are owned forever. My guess is that terminology informally just spilled over to this timeshare by DVC members.

Yes. They say you are purchasing a ownership interest in X.

 

[BeachClub2014]

Owner? Member? It's six of one, half-dozen of another, and doesn't really matter either way.

 

[sethschroeder]

Non-perpetual preferred stocks can expire and cease to exist, but you still receive the issue price (DVC expires worthless)

Except you were paid out for DVC. You were just prepaid over 50 years. Every time you book a room with DVC you are essentially getting value back from your initial outlay of cash.

Go check the cash rates (even with discounts) the next time you stay and that cost difference was that "payment" for that specific number of points that you used.

 

[NVDISFamily]

As someone who is looking to buy my first contract(s) in a few weeks I’m okay with using the term owner in reference to DVC given how long the term is on the contracts. This also has some backing in generally accepted accounting principles (sorry I studied accouting in undergrad and grad school but I went the IT route so I might be wrong here). If you lease something for a very long time you typically must treat and consider it as a purchased/owned asset for tax and accounting purposes.

 

[RoseGold]

The difference is that it’s deeded. If I rent you an apartment, nobody even know about it. If you stop paying, you are evicted, not foreclosed.

If I sell you a deeded interest it’s recorded with the state. That’s what allows mortgages and foreclosure on it, and why it has to be probated like other deeds. Also why it’s so easy to get loans for these things. They are straightforward to foreclose, even compared to repoing a car or eviction.