Resale Contract Closed, but not getting contracted loaded until after 7/8/2022 over 60 days from closing? Advise wanted

[RoseGold]

I dug through my documents and a couple of my resale contracts, and I would not be satisfied with Disney's answer at all.

They also stated in Disney's eyes the contract is still the customers until the reservation is completed. That I in no way would be made liable as the reservation is in the person's email.

I'd put this in writing to Disney. I don't see how Disney can possibly agree with this and not violate Florida law. (Surely the broker said this, not Disney?)

It sounds like OP is a nice person who is willing to let the reservation stand and let someone else's mistake be OP's liability. That is an outcome, and maybe the right one. I mean, it's the same points and what OP expected. But I wouldn't be that person for a screw up this big. I'd be on Disney like Jar Jar.

Let's be clear here. Delayed closings are a thing that are negotiated and people pay for, like with houses. You absolutely had a right to know this as a buyer. Especially in a market with prices going down, this matters.

 

[KPeterso]

I don’t understand how someone can use all of their 2023 points for a trip between now & July - 50% of the 2023 points, yes, but all of them?
If I were in the market to buy resale points I’d seriously consider adding a clause to the contract or an addendum along the lines of ‘seller represents that there are no pending reservations that would delay transfer of ownership by DVC to buyer and agrees they will take no actions to delay Disney’s transfer of ownership to buyer, including but not limited to booking any trips using points from contract XYZ henceforth.’
I actually have a vague recollection about a similar thing happening a couple of years ago & thinking at the time that Disney‘s delaying transfer was unlawful.
When I bought my current house 3 years ago I allowed the sellers to stay in it for a week after closing to enable them to close on the house they were buying & move, however, there was a specific clause allowing this & $1,000 was held in escrow & only released to them after they had moved out. This business of DVC not immediately transferring membership is ripe for issues to arise - they really need to transfer immediately or at least block former owners from access to points that are no longer legally theirs until they complete the transfer process. After all when someone buys direct DVC puts the new points in the system almost immediately.

Regarding the 2023 points. The member could have multiple memberships and transferred the rest of the 2023 points from the original membership to a different one. I have 2 memberships (2 UY) and I have moved my points between them. If I was to sell, I would probably move some of the points from one membership to another to have those last ones to use.

 

[JGINPL]

Regarding the 2023 points. The member could have multiple memberships and transferred the rest of the 2023 points from the original membership to a different one. I have 2 memberships (2 UY) and I have moved my points between them. If I was to sell, I would probably move some of the points from one membership to another to have those last ones to use.

Yes they could but then the reservation should be under the other membership and a delay wouldn't be needed.

 

[Sandisw]

I don’t understand how someone can use all of their 2023 points for a trip between now & July - 50% of the 2023 points, yes, but all of them?
If I were in the market to buy resale points I’d seriously consider adding a clause to the contract or an addendum along the lines of ‘seller represents that there are no pending reservations that would delay transfer of ownership by DVC to buyer and agrees they will take no actions to delay Disney’s transfer of ownership to buyer, including but not limited to booking any trips using points from contract XYZ henceforth.’
I actually have a vague recollection about a similar thing happening a couple of years ago & thinking at the time that Disney‘s delaying transfer was unlawful.
When I bought my current house 3 years ago I allowed the sellers to stay in it for a week after closing to enable them to close on the house they were buying & move, however, there was a specific clause allowing this & $1,000 was held in escrow & only released to them after they had moved out. This business of DVC not immediately transferring membership is ripe for issues to arise - they really need to transfer immediately or at least block former owners from access to points that are no longer legally theirs until they complete the transfer process. After all when someone buys direct DVC puts the new points in the system almost immediately.

Combination of trips and transfers. As soon as one hit the 2022 UY, they could transfer out the rest of the 2023 UY.

So, some used for this trip and some used for that.

 

[_auroraborealis_]

I consider myself a magical unicorn. That doesn't mean I legally am a magical unicorn.

The MA line about not transferring until the booking is complete is poo. The contract is legally yours. The deed is filed. It's not a decision that Disney gets to make unless there is paperwork and documentation that you agreed to.

And there ain't.

 

[sndral]

…
Let's be clear here. Delayed closings are a thing that are negotiated and people pay for, like with houses. You absolutely had a right to know this as a buyer. Especially in a market with prices going down, this matters.

This should have been sold as a delayed closing & an ethical agent/broker would have disclosed that fact to the buyer IMO. Instead, closing happened, & then buyer was told oops you own the contract but are blocked from accessing it because the seller intends to retain possession for several weeks.

I understand that sellers can transfer the points to another contract - but once they do so those points are gone & the contract OP bought wouldn’t have an existing reservation delaying ownership transfer, right?

 

[Robbie Cottam]

I am not a DVC expert (don't even own yet) - but I don't understand how something can be legally yours, and funds distributed, and you not have access to it. Especially if there was no language to confirm this in the contract.

That is not how it should have worked. Basically you are dealing with two completely different things. The deeded ownership, which is recorded by the county, and the club membership, ”recorded” by Disney

However there is an amount of time between when the title company records the deed with-comptroller’s and when Disney changes the membership.

Disney has no way of knowing when resale deeds change hands.

There is a form that gets filed out an forwarded to Disney Member Admin. To let them know to transfer the membership.

I speculating here but someone filled out that form and transferred it to Disney stating the date on transfer was July 8th…

It is not the correct way to do this type of transfer.
The proper way is to delay the actual closing until after the trip.

However, if you do that you run the risk of the buyer backing out.

 

[Robbie Cottam]

I consider myself a magical unicorn. That doesn't mean I legally am a magical unicorn.

The MA line about not transferring until the booking is complete is poo. The contract is legally yours. The deed is filed. It's not a decision that Disney gets to make unless there is paperwork and documentation that you agreed to.

And there ain't.

Having not scene any of the paperwork for this transfer I can only assume, however, I would bet the the membership document says the deed will transfer on 7/8/22
Member administration is only going on the info the broker provided.

if they were sent a copy of the deed they would transfer the membership.

 

[JGINPL]

Having not scene any of the paperwork for this transfer I can only assume, however, I would bet the the membership document says the deed will transfer on 7/8/22
Member administration is only going on the info the broker provided.

if they were sent a copy of the deed they would transfer the membership.

The more I think about this I bet you are right and that is what they did without me knowing that. It is unfortunate and I may let the Broker know I'm a little more disappointed as I was planning on borrowing some of the points for booking a trip upcoming and will have to utilize OTU points instead now.

 

[RamblinWreck]

The more I think about this I bet you are right and that is what they did without me knowing that. It is unfortunate and I may let the Broker know I'm a little more disappointed as I was planning on borrowing some of the points for booking a trip upcoming and will have to utilize OTU points instead now.

You should still have those documents sitting in your email. It won't take more than a few seconds to confirm whether or not that is true!

 

[RoseGold]

Disney has no way of knowing when resale deeds change hands.

You have no idea what you are talking about. Dead wrong. This is publicly available information anyone can find at the Comptroller's website.

There is some administrative paperwork like your email address and such, but that isn't the actual "change hands" part. The state handles the change hands part.

I would be VERY interested in the admin paperwork in this case.

 

[Sandisw]

That is not how it should have worked. Basically you are dealing with two completely different things. The deeded ownership, which is recorded by the county, and the club membership, ”recorded” by Disney

However there is an amount of time between when the title company records the deed with-comptroller’s and when Disney changes the membership.

Disney has no way of knowing when resale deeds change hands.

There is a form that gets filed out an forwarded to Disney Member Admin. To let them know to transfer the membership.

I speculating here but someone filled out that form and transferred it to Disney stating the date on transfer was July 8th…

It is not the correct way to do this type of transfer.
The proper way is to delay the actual closing until after the trip.

However, if you do that you run the risk of the buyer backing out.

It is true that MA normally wouldn’t know until the title company send them things…I am sure they don’t monitor that.

But, the OP confirmed with MA that the title company did send the paperwork in to them, but it was decided by MA to allow the reservation to stay in place and not close it.

So, at this point, MA is being complicit in allowing the previous owner access to the new Owners contract Sure, it takes time for the transfer to happen and resale owners do have to wait…but in this case, it’s being purposely held back for transfer outside normal times.

As I said, I give OP credit, because no way would I be this nice. I’d tell MA they need to transfer it and if the previous owner loses the reservation, so be it…they can go after whomever messed it up by not disclosing the delayed closing.

 

[Disneykate605]

What really bothers me most about this situation is that the broker obviously messed up by not disclosing the reservation and rather than admitting to it they are continuing to be deceitful. They should have owned up to the mistake and offered the Administration fee back at the very least! I feel like their honesty in this situation would have saved the OP time and worry. This is an unfortunate incident. I totally understand why the OP doesn't want to mess up the previous owners trip since he isn't entitled to the points ( and I agree with that) but I would definitely be trying to get some sort of refund back from the broker for this transaction not a future one. I would think the broker should be happy to do that since the OP causing a huge stink and pushing to get the reservation cancelled would only make the brokers mistake even worse ( assuming the sellers had disclosed the trip and the broker forgot to pass that info on).
Good luck OP...I'm sure it will all work out but I'm sorry you have had to waste so much time and energy on the situation and for that I feel you should be compensated.

 

[RamblinWreck]

What really bothers me most about this situation is that the broker obviously messed up by not disclosing the reservation and rather than admitting to it they are continuing to be deceitful. They should have owned up to the mistake and offered the Administration fee back at the very least! I feel like their honesty in this situation would have saved the OP time and worry. This is an unfortunate incident. I totally understand why the OP doesn't want to mess up the previous owners trip since he isn't entitled to the points ( and I agree with that) but I would definitely be trying to get some sort of refund back from the broker for this transaction not a future one. I would think the broker should be happy to do that since the OP causing a huge stink and pushing to get the reservation cancelled would only make the brokers mistake even worse ( assuming the sellers had disclosed the trip and the broker forgot to pass that info on).
Good luck OP...I'm sure it will all work out but I'm sorry you have had to waste so much time and energy on the situation and for that I feel you should be compensated.

I agree. OP has a lot of leverage here given that the deed has already been recorded. OP owns the contract. All it takes is one hint that they might get a lawyer involved...

 

[Matty B13]

I agree. OP has a lot of leverage here given that the deed has already been recorded. OP owns the contract. All it takes is one hint that they might get a lawyer involved...

Yes, I wouldn't want to be the person at DVC who had to explain to a lawyer why they wouldn't transfer a membership that was legally someone else's.

 

[Suzabella]

I'd be looking into filing a complaint with the Florida Real Estate Commission. The action of this broker/agent is completely unacceptable, legally questionable and likely unethical.

 

[RoseGold]

I totally understand why the OP doesn't want to mess up the previous owners trip since he isn't entitled to the points ( and I agree with that)

I don't agree with this at all.

If the sellers made a sneaky reservation after close, the buyer gets paid for the point value and escrow takes it from the sales proceeds. It's in your contract because it's stealing.

I get the broker is saying some nonsense. I'm baffled Disney is allowing this. That's the part that makes no sense. I don't see how Disney can block a rightful, publicly recorded owner from doing whatever they want with their points.

 

[Straulin]

You have no idea what you are talking about. Dead wrong. This is publicly available information anyone can find at the Comptroller's website.

There is some administrative paperwork like your email address and such, but that isn't the actual "change hands" part. The state handles the change hands part.

I would be VERY interested in the admin paperwork in this case.

Do you have the comptroller's website handy or can you give more information, like is that a county office or state? I just closed on my first contract and am interested to see what they say on mine.

 

[Sandisw]

Do you have the comptroller's website handy or can you give more information, like is that a county office or state? I just closed on my first contract and am interested to see what they say on mine.

https://www.occompt.com/about-the-comptroller/welcome/

 

[robinb]

I agree. OP has a lot of leverage here given that the deed has already been recorded. OP owns the contract. All it takes is one hint that they might get a lawyer involved...

I would be putting pressure on the broker right now for at least a partial refund of their fees and commission. The OP cannot use the contract that they legally own because of the hijinks of the broker and previous owner.