The Downside To The Upside

[nickspace]

Last nice we were at a party with some Great people who own a non-DVC timeshare. When I told them we owned DVC the mood changed just a touch. They enjoy their timeshare and I am sure it is great for them. I am even considering buying a non-DVC timeshare one day.

The main thing they don't like about DVC is that the lease expires where theirs does not. That is understandable. But the thought came to me... What happens when their timeshare gets old and is no longer desirable. Say a timeshare is inherited and in 50 years it is a wreck. Who wants that? In one way the expiring lease is a bummer but in another way it is a blessing.

 

[Halle]

I totally agree. DH and I have owned OKW since 1993 and BWV since 2006. We are in our mid fifties and probably wil sell current contracts at some point to buy new ones for our adult children.

 

[JBx3]

One of my favorite items about DVC is their "right to use" deeds.

Marriott direct sales specifically plays on that but it backfired for me. Nothing wrong wioth perpetual deeds but just not for me. Anything can happen at anytime, that not only goes for timeshare care and quality but also it is a human element. Both my wife and I have health issues and our duaghter is only 8. We are thrilled she will have our ownership in time and also thrilled she will not be on the hook for perpetual MF and dues. As she gets older, she can decide her options at that time of ownership and we are thrilled knowing at a given time, regardless of the timeshare quality and value, that she will eventually have the "right to use" dissolve.

I am thrilled with "right to use" deeds.

OP good post.

 

[nickspace]

One of my favorite items about DVC is their "right to use" deeds.

Marriott direct sales specifically plays on that but it backfired for me. Nothing wrong wioth perpetual deeds but just not for me. Anything can happen at anytime, that not only goes for timeshare care and quality but also it is a human element. Both my wife and I have health issues and our duaghter is only 8. We are thrilled she will have our ownership in time and also thrilled she will not be on the hook for perpetual MF and dues. As she gets older, she can decide her options at that time of ownership and we are thrilled knowing at a given time, regardless of the timeshare quality and value, that she will eventually have the "right to use" dissolve.

I am thrilled with "right to use" deeds.

OP good post.

Does this also mean that at some times we will have the opportunity to extend our deeds like they did with OKW?

 

[Deb & Bill]

Does this also mean that at some times we will have the opportunity to extend our deeds like they did with OKW?

Why pay to add on years now, when you don't know if you will even need them in the future? Why not wait until just before they expire?

We didn't add on the extra 15 years at OKW because we both would be more than 100 when it finally expired, if we didn't expire first. I'll tire of it long before then. Plus by then the dues will be outrageous.

 

[JBx3]

The OKW extension from what i understand did not go as well as DVC planned, most likely becuase it was offered to early in the 2042 expiration cycle. It is only speculation that is they do it again at a resort, it will be later in that cycle.

All suits me fine and again by the time 2042 and 2057 come around for our expiration years, our daughter can decide for her and her future family at that time.

I think as long as disney has their named attached to any of the resorts, they will most likely protect their image and these resorts will have a better chance of being well maintained that not.

My only concern is if they sell off any to a third party and they would most likely by VB, HHI, etc. Perhaps when you see them halting new start ups, it may be an indication that their hands in the timeshare business has run it course, but for now, DVC has held up as good as any vacation clubs out there and as long as they are making money, then ownership shopuld be in good shape.

I would think they older properties, but still hot resale properties, such as BCV, BWV, would most likely see extension offers, if and when that would ever happen again.

 

[arthur06]

I always thought that the expiration type and perpetual type had something to do with the debt that a company carried on the property...

I thought I was at a Westgate when I was told that... the sales person said to NEVER buy Disney! He said that it was likely to go bankrupt or something to that affect because they carried sooo much debt that they couldn't offer a perpetual timeshare!

Now, Westgate is a GREAT timeshare! The best in ORLANDO or ANYWHERE!!!

 

[bwvBound]

But the thought came to me... What happens when their timeshare gets old and is no longer desirable. Say a timeshare is inherited and in 50 years it is a wreck. Who wants that?

Many timeshare have specific exit strategies noted in their governing docs. Some offer the owners a 'residual value' (money paid back to the owners at the termination of the timeshare), others allow 2/3 owner vote to dissolve the timeshare, etc. Two of my other timeshare are ending this year ... and I'm going through some serious heartache saying, "Goodbye."

 

[JBx3]

Many timeshare have specific exit strategies noted in their governing docs. Some offer the owners a 'residual value' (money paid back to the owners at the termination of the timeshare), others allow 2/3 owner vote to dissolve the timeshare, etc. Two of my other timeshare are ending this year ... and I'm going through some serious heartache saying, "Goodbye."

Can I ask what others do have ending dates? Still interrested in expanding beyond DVC but do not want perpetual. Thanks

 

[bwvBound]

Can I ask what others do have ending dates? Still interrested in expanding beyond DVC but do not want perpetual. Thanks

Both of mine were 'perpetual,' terminated by owner vote. Links to a few threads regarding those ending with residuals:

• VCI Cancun Residual Rights - A Ripoff?, March 2007
• Residual Rights?, an explanation from Nov 2006
• Royal Resorts Residual Values and offer to buy-back now, from June 2009
• Predictions about The Royal Mayan in 2013??, from Nov 2007
• Update on VCI Trust, from March 2006
• Royal Mayan, from June 2010

As for a list of timeshares with an 'ending date' -- try a few eBay searches involving key words such as RTU (Right to Use) or Lease + Expires:

• timeshare rtu
• timeshare lease expires

Hope this helps?

 

[Muushka]

Yeah, the expiration date does not bother us either.

We don't have kids and I doubt they would let my cats stay there. Even if their names are on the deed.

 

[CarolMN]

The expiration was a plus for me, too. Prior to purchase, I had read too many horror stories about timeshares that the owners could not get out of. In fact, there seemed to be a lot of them available for free if the buyer would only just take over the annual fees.

I also did not want to stick my heirs with a luxury that they may not want, be able to afford or would be a hassle to get rid of.

We did not count on getting any money back from a sale when we made the original purchase. Since we've had it for more than 10 years, we have long passed our break even point. If we ever do sell, anything we get back will be gravy.

 

[JBx3]

Both of mine were 'perpetual,' terminated by owner vote. Links to a few threads regarding those ending with residuals:

• VCI Cancun Residual Rights - A Ripoff?, March 2007
• Residual Rights?, an explanation from Nov 2006
• Royal Resorts Residual Values and offer to buy-back now, from June 2009
• Predictions about The Royal Mayan in 2013??, from Nov 2007
• Update on VCI Trust, from March 2006
• Royal Mayan, from June 2010

As for a list of timeshares with an 'ending date' -- try a few eBay searches involving key words such as RTU (Right to Use) or Lease + Expires:

• timeshare rtu
• timeshare lease expires

Hope this helps?

Wow, terrific, I try to learn something new each day and with this I did! TY

 

[Granny]

The main thing they don't like about DVC is that the lease expires where theirs does not. That is understandable. But the thought came to me... What happens when their timeshare gets old and is no longer desirable. Say a timeshare is inherited and in 50 years it is a wreck. Who wants that? In one way the expiring lease is a bummer but in another way it is a blessing.

Count us in the posters here that think the expiration of DVC is a plus, not a detriment. I wouldn't want to have to leave DVC to my daughters and saddle them with the rising maintenance fees and such.


Yes, a RTU contract worked out perfectly for us.