Total Wipeout

[pms122765]

What will happen to our DVC ownership if the buildings are destroyed, damaged etc...?

 

[Dean]

There are several possibilities. The rules state you would cease to be a member of the club, at least as long as your resort were not available. They could just close it down. If they rebuild and it costs more than the reserves and insurance, they could raise the dues a lot and/or institute a special assessment.

 

[pms122765]

the reason i asked was i am waiting to close escrow in early oct.

wondered what my status would be

 

[Dean]

Originally posted by pms122765
the reason i asked was i am waiting to close escrow in early oct.

wondered what my status would be

Everyone should read the POS at least once. This info is in there along with a lot more.

 

[DebbieB]

Originally posted by Dean
Everyone should read the POS at least once. This info is in there along with a lot more.

The information in the POS is very confusing. Something about reservations on a one to one basis. I asked my guide about it and he said "don't worry, you would be able to use your points elsewhere". I'm not very confident in that answer. Hopefully we will never find out!

 

[rocketriter]

a) Disney builds very strong buildings using steel-reinforced concrete walls that are designed for hurricane survival.

b) Insurance.

Dean is right in saying that everyone should understand their time-share agreement. But the likelihood of losing one's investment in this way is below the threshold of things that I, at least, choose to worry about.

 

[Dean]

Originally posted by DebbieB
The information in the POS is very confusing. Something about reservations on a one to one basis. I asked my guide about it and he said "don't worry, you would be able to use your points elsewhere". I'm not very confident in that answer. Hopefully we will never find out!

Basically to get anything, you have to have something to give up. While I think it's not overly likely to get that drastic, it's not out of the realm of reasonable possibility for HH and VB especially. I'm sure DVC would float the system for short term closures though they would not have to do so.

 

[BigDisneyKids]

The POS is like every other legal document we sign each day, there's always a catch. It's what they (corporations & lawyers) do. (No disrespect intended.)

I'm not concerned, life is way too short to worry about what could happen.

I'm more interested in an AP discount.

 

[OneMoreTry]

Originally posted by BigDisneyKids
I'm not concerned, life is way too short to worry about what could happen.

You may want to consider what will happen in life just a wee bit.

If you are concerned that DVC's insurance doesn't cover your whole investment, you could ask your agent for a supplemental policy. It would probably be inexpensive -- being a supplement.