What happens if-----?

[Canadian Tom]

Just wondering, can an individual resort(example:vero beach) go under? If so what is the status of the Vero Beach DVC members with respect to booking other resorts? Thanks

 

[Chuck S]

Well, I don't think a resort can actually "fail", but it can withdraw, upon approval of the membership, from the DVC system and become independent. The chances of that happening are, IMO, slim and none. Also, if a catastrophe were to destroy the resort to where it was not repairable at a reasonable cost, there is something about the membership being forfeit.

 

[disneycrazed139]

I had recently been thinking about this. There is a clause referring to unnatural disasters? What happens (generally) in this case?

 

[InstImpres]

I spoke with my guide about this before purchasing HH. The flood warnings concerned me.

I was told if it is "destroyed" we could use points elsewhere during the rebuild or if they opted not to rebuild there is a formual to receive money back.

That was about all the detail I could get

Sandy

 

[Dean]

In the event the resort is destroyed or damaged beyond use and not rebuilt, the members would be SOL. That happening is very unlikely and the resort is well insured. After that there is no absolute. If the system can absorb the points, I'm sure things would flow smoothly and members would be allowed to use the points at other DVC resorts. There is no rule that says this and I'm sure if there was enough damage, usage could be suspended totally. Members would still be required to pay fees and there would likely be a special assessment.

Remember one only truly owns at their own resort and gets usage of the other resorts by being a member of the club.