When you own at DVC, what is meant by unit #?

[peacefrogdog]

I've seen threads of people posting their unit #'s for their home resorts?

What does the unit # mean, in terms of function? Does it designate what actual building you're in, and if so, does it mean you'll always be in the same group of units whenever you stay there? And if that's the case, will availability then be dependent on whether other people also assigned to the same unit are also booking for similar times?

Rene

 

[browniemtb]

It doesn't mean much of anything in my eyes. DVC sells a certain number of points per unit. So DVC owners own a small portion of a room. Does this restrict you to where you have to stay, absolutely not. It plays no role in your stays at any of the DVC resorts. When you read about it on the DIS I think people are just kidding around saying they now own .3400695 of unit 74.
Brownie

 

[Granny]

Brownie is right....it's just a fun thing to make people feel like they own the equivalent of a coffee table or doorknob at a villa in their home resort.

It is legalese on how the time shares are sold. It has nothing to do with DVC ownership as far as reservations.

 

[JimMIA]

You'll never notice what unit you own, but it does have important legal significance. DVC is a real-estate purchase, and by law, every point that is sold must be tied to a specific actual unit in a real building that is completed and ready for occupancy.

So if your deed says you own ".3400695 of unit 74," you actually do own that. One important aspect of this law is that it prevents timeshare developers from overselling their capacity -- they can't sell availability they don't physically have.

 

[pixie08]

You'll never notice what unit you own, but it does have important legal significance. DVC is a real-estate purchase, and by law, every point that is sold must be tied to a specific actual unit in a real building that is completed and ready for occupancy.

So if your deed says you own ".3400695 of unit 74," you actually do own that. One important aspect of this law is that it prevents timeshare developers from overselling their capacity -- they can't sell availability they don't physically have.

That is actually good to know because I wondered about that...like how do they know they haven't oversold their units if like every dvc member wants to stay at the same time- granted not ever going to happen- but still.

 

[LisaS]

You'll never notice what unit you own

I stopped by and visited my unit at AKV, just for fun. Had a nice chat with the fellow who was staying in the GV next door who told me how beautiful it was but did not invite me in for a tour. But then again DH and I were standing in the hallway and I was "hugging" the wall of our unit so he probably thought we were a bit strange!

To the OP: as others have said, it isn't all that meaningful which Unit you own. We're keeping track on the "AKV Ownership" thread because we're interested in how fast AKV is selling and also are tracking the percentage of the resort the members of this board own, just for fun. Other than that the only significance to what Unit you own is that if there was some damage to your Unit that took it completely out of commission (fire, hurricane damage, etc.) DVC could opt to pay you the insurance proceeds rather than rebuild that Unit. You would cease to be a member at that resort. This has never happened and I hope it never does but it is mentioned in the legal documents.

 

[Granny]

So if your deed says you own ".3400695 of unit 74," you actually do own that.

Well we don't actually own any physical thing other than a right to use something for a specific amount of time. There might be some legal jargon that indicates we own some part of a resort but in my book ownership doesn't carry expiration dates!

Lisa....hugging the wall at AKV? Very nice. The funny thing is that many people here wouldn't think anything unusual if seeing such a sight!

 

[drusba]

DVC is a real estate transaction under which you actually purchase a percentage interest in a particular "unit" in the resort and also receive an undivided interest of the common elements similar to condominium ownership. In almost all cases the one thing a unit is not is one particular room. The official documents distinguish between a unit, which is usually a group of rooms, or, in the case of OKW, one of the buildings, and "vacation home" which is a room.

Unit has no impact on which room you can stay in; in fact, many owners may never even stay in a room in their unit.

What unit you are in does determine some things simply because there is a connection such as your use year because each unit has only one use year month attached to it.

 

[senecabeach]

DVC is a real-estate purchase, and by law, every point that is sold must be tied to a specific actual unit in a real building that is completed and ready for occupancy. It plays no role in your stays at any of the DVC resorts.

 

[LisaS]

It plays no role in your stays at any of the DVC resorts.

Good thing too otherwise those who own a unit that consists of one GV would have to buy a ton of points to stay at their home resort!

 

[Dean]

Technically a unit is a group of rooms at most resorts. It can be a single building at resorts like HH, OKW and VB (GV only). I don't know of any situation where it's a single villa other than the 3 BR units at VB.

 

[LisaS]

Technically a unit is a group of rooms at most resorts. It can be a single building at resorts like HH, OKW and VB (GV only). I don't know of any situation where it's a single villa other than the 3 BR units at VB.

At AKV all of the GVs are the only villa in their respective units.

 

[Dean]

At AKV all of the GVs are the only villa in their respective units.

Thanks, it's possible that's true at other resorts with GV, esp BWV.

 

[dvc_john]

It's also true at SSR. Most GV's are 1 unit. Most other units there consist of 3 to 4 2-br dedicated and/or 2-br lock-outs.