Question about annual passes

[tinkerbell of winter]

Does the annual pass expire a year after when you purchase it or when you activate the voucher? I was just wondering, since i'd put off the purchase as long as possible if it expires a year after the purchase date. Thanks.
Christine

 

[tjkraz]

If you purchase off-site, you get a voucher. In this case, the pass expires 366 days from the date of activation.

If you purchase on-site, you get the actual pass. In this case, it expires 366 days from purchase.

They also sell activated passes at a few other locations (MCO & Orlando welcome center come to mind), but there was no mention of these locations being able to apply th DVC discount.