What is RORF?

[dizzneebabe]

Sorry all! I can't seem to find out what this is!!! I assume, judging by the context that it is Disney's credit approval. But, before it drives me insane--what does it stand for??

Your answer is GREATLY appreciated!!!


Rhonda

 

[disneyberry]

<font face="times" size="+0">ROFR stands for Right of First Refusal.

this is for the DVC resale market.
when a DVC owner decides to sell their ownership to someone else, they have to submit the details of their sale to Disney.

Disney then has the option to allow the sale to proceed, or they have the option to exercise ROFR to stop the sale, and they will buy back the ownership interest under the same terms.

the original owner (seller) then sells their contract to Disney, instead of selling to the resale buyer.</font>

 

[dizzneebabe]

Believe it or not--I actually thought that's what it was, but was too afraid to sound like a moron, if I was wrong.

A BIG Thank U headed your way!

Rhonda