Since there have been some many posts on wording in different documents I decided to break out my member kit and push away the dust and read it. Here is some interesting information:
Multi-Site Public Offering Statement
The term of the ground lease expires on January 31, 2054. Since the lease of the land upon the Condominium is formed expires on January 31, 2054, your ownership interest purchased at the Saratoga Springs Resort will also terminate on that date (unless the ground lease is terminated earlier in accordance with its terms)
DVCMC is responsible for the operation of the Home Resort Reservation Component for each DVC resort. DVCMC performs its obligations for the Club pursuant to the terms and conditions of the membership Agrrement and the Home Resort Rules and Regulations for ecah DVC Resort.
When a Club Member uses his or her Home Resort Vacation Points to reserve Vacation Homes on behalf of a non-Club Member, and the Club Member does not charge any rental or other fees to the non-Club Member for the reservation, the non-Club Member is eligible for all or some of the Club Member privileges and benefits that a club member would normally receive during his or her stay in the reserved Vacation Home.
Product Understanding Checklist
You may rent, sell, tranfer or will your Ownership Interest. DVD has a right of first refusal to repurchase your Ownership interest on the same terms and conditions, including financing, that your buyer has offered. DVD currently provides no assistance in resale or rental of your Ownership Interest. In the event you attempt to resell or rent your Ownership Interest, you would compete with DVD for buyers and renters at a substantial competitive disadvantage.
To encourage purchase for personal use, Club Members may not aggreagte Ownership Interests so as to complie more than 2,000 Home Resort Vacation Points per DVC Resort or an aggreagte of 5,000 Home Resort Vacation Points at all DVC Resorts, and use by coporations or other buisness entities is strictly limited to recreational use by their directors, officers, principals, or employees.
Anyone find any other interesting information?
Multi-Site Public Offering Statement
The term of the ground lease expires on January 31, 2054. Since the lease of the land upon the Condominium is formed expires on January 31, 2054, your ownership interest purchased at the Saratoga Springs Resort will also terminate on that date (unless the ground lease is terminated earlier in accordance with its terms)
DVCMC is responsible for the operation of the Home Resort Reservation Component for each DVC resort. DVCMC performs its obligations for the Club pursuant to the terms and conditions of the membership Agrrement and the Home Resort Rules and Regulations for ecah DVC Resort.
When a Club Member uses his or her Home Resort Vacation Points to reserve Vacation Homes on behalf of a non-Club Member, and the Club Member does not charge any rental or other fees to the non-Club Member for the reservation, the non-Club Member is eligible for all or some of the Club Member privileges and benefits that a club member would normally receive during his or her stay in the reserved Vacation Home.
Product Understanding Checklist
You may rent, sell, tranfer or will your Ownership Interest. DVD has a right of first refusal to repurchase your Ownership interest on the same terms and conditions, including financing, that your buyer has offered. DVD currently provides no assistance in resale or rental of your Ownership Interest. In the event you attempt to resell or rent your Ownership Interest, you would compete with DVD for buyers and renters at a substantial competitive disadvantage.
To encourage purchase for personal use, Club Members may not aggreagte Ownership Interests so as to complie more than 2,000 Home Resort Vacation Points per DVC Resort or an aggreagte of 5,000 Home Resort Vacation Points at all DVC Resorts, and use by coporations or other buisness entities is strictly limited to recreational use by their directors, officers, principals, or employees.
Anyone find any other interesting information?
I haven't looked at them for (many) years. So I cannot add to your post... I am really ignorant and happy.
