Question about ROFR and maint. fees??

[Alisha&Jay]

Hi,
I am selling my AKV contract and shortly it will be submitted to Disney for ROFR. My questions is this- if Disney exercises their right do I have to pay the maintenance fees on the used points? Meaning, I already used 165 of my '09 points (Oct. UY). Do I have to pay the $800.25 fee ($4.85 x 165)? I know I do if it passed ROFR, but unsure about the other way around.

 

[disneynutz]

That's a good question for DVC Administration or Accounting. Let us know what you find out.

 

[bobbiwoz]

I thought you had to have that in the agreement. When we bought resale, we knew who paid what. Disney will pay exactly what the buyer would pay. Have you already paid your '09 MFs?

Bobbi

 

[DebbieB]

I agree, it should be addressed in the sales contract. DVC takes it at the same terms. There should be no difference for the buyer.

Since you are the owner of record on the date the dues were due (1/15/09), you will pay the 2009 dues on all the points (not just those used) unless you addressed it in the contract.

 

[RobDoc]

Disney will pay exactly the same thing you have agreed to in the accepted offer. If you have already agreed to pay '09 fees on those points you will pay the same fees if DVC exercises ROFR. Any fees outstanding at closing will be part of that settlement - but if you have already agreed to pay the fees on the points you have already used, you will be held to that agreement. the agreement won't change regardless who ends up buying the contract at closing.

 

[Alisha&Jay]

Okay, thanks to all for your answers. I knew you would all know. So, since I agreed, in the contract, to pay the fees on the 165 pts I already used, then that's what I'll be paying even if Disney decides to buy contract. The buyer is paying the fees on the remaining points left in the '09 UY.

 

[Caskbill]

Maintenance fees have nothing to do with use year. The fees are for calendar year 2009, not your Oct 2009 use year points.

If one wants to equate use year points to calendar fees, then with an October use year, for your 2009 calendar year fees, 9/12ths of the fee applied to your 2008 use year points, and 3/12ths apply to your 2009 use year points. This is because your Oct 2008 use year went from 10/1/08 through 9/30/2009, where 9 of the 12 months are in calendar year 2009. Only 3 months of your 2009 October use year points are applicable to calendar year 2009, and 9/12ths of the points' fees are applicable to calendar year 2010.

This point is highly misunderstood. Many members think the annual fees apply to that year's annual allocation of points. They do not.