2042 expiration - defaults?

[D-Trick]

Using Tropicana and Mirage as recent examples, the final night to stay on a DVC property will prob be on Jan 30, because the resort would end operations on Jan 31.

 

[muppets3d]

I don't forsee Disney handling this any other way but to protect their brand. Accommodations will be made allowing everyone to use their final year of allotted points. DVC holds back a percentage of all resorts don't they do, when I booked my "Welcome Home Stay' it was BLT standard view well past the 7 month window. I bet we see some magic made to exhaust all of those points for one final vacation for everyone.

Maybe we'll see "Final Stay" magic?

They can't make rooms appear that don't exist. The number of people who join DVC and book a first welcome home stay pales in comparison to the number of people who will be affected by the 2042 expiration. If all or even many of those owners asked for final stay magic, most would be disappointed.

 

[2010dvcfan]

They can't make rooms appear that don't exist. The number of people who join DVC and book a first welcome home stay pales in comparison to the number of people who will be affected by the 2042 expiration. If all or even many of those owners asked for final stay magic, most would be disappointed.

I disagree, DVC has inventory all over that property and I do not believe they will allow my final 170 points at BCV or BRV to be rendered worthless, I think they will have some idea on how to handle accommodations at other resorts out of their own inventory to finalize the contracts if it comes to that. Especially since a large majority of owners myself included own thousands of points at other resorts that won't be expiring. I do imagine a lot of owners will borrow and use those points at a different resort if possible before the "rush at the end" starts.

If owners are making reasonable efforts to use their points in that final year with no success they will at the very least buy them back, like they did in "magical beginnings" offers. Unless brand protection dies altogether in the next 15 years DVC will not want a bunch of dissatisfied DVC owners taking to social media on how they were left high and dry with 2041 points.

DVC has yet to fall into the category of "standard timeshares" I choose to believe they won't go that direction in 2042 either.

Guess we'll have to wait and see.

 

[Mai Ku Tiki]

A bit OT but others have discussed what DVD will do with DVC properties generally as contracted years expire...Will some be sold off ?... IMO, when 2057 rolls around, OKW could become an "adults only" Margaritaville-type WDW DVC resort. Add dining & lounges; update everything.
Many senior Mouseketeers & others that don't travel with kids would buy into that, I think.

 

[muppets3d]

I disagree, DVC has inventory all over that property and I do not believe they will allow my final 170 points at BCV or BRV to be rendered worthless, I think they will have some idea on how to handle accommodations at other resorts out of their own inventory to finalize the contracts if it comes to that. Especially since a large majority of owners myself included own thousands of points at other resorts that won't be expiring. I do imagine a lot of owners will borrow and use those points at a different resort if possible before the "rush at the end" starts.

If owners are making reasonable efforts to use their points in that final year with no success they will at the very least buy them back, like they did in "magical beginnings" offers. Unless brand protection dies altogether in the next 15 years DVC will not want a bunch of dissatisfied DVC owners taking to social media on how they were left high and dry with 2041 points.

DVC has yet to fall into the category of "standard timeshares" I choose to believe they won't go that direction in 2042 either.

Guess we'll have to wait and see.

We will have to wait and see, it's all speculation until then. I will say that earlier this year when BWV's refurb ran over, they were sending guests to Yacht Club because they had no villas to put them in. That was reported here. And that was one resort. So I really don't see how your scenario is possible. Disney magic happens every day but not even faith trust and pixie dust can make villas appear out of thin air.

 

[eticketplease]

they will at the very least buy them back, like they did in "magical beginnings" offers.

Not looking forward to “Unfortunate Endings”.

 

[2010dvcfan]

We will have to wait and see, it's all speculation until then. I will say that earlier this year when BWV's refurb ran over, they were sending guests to Yacht Club because they had no villas to put them in. That was reported here. And that was one resort. So I really don't see how your scenario is possible. Disney magic happens every day but not even faith trust and pixie dust can make villas appear out of thin air.

You could be spot on right, for all I know. I tend to seek positive not negative in all situations. But with Disney money, there is a whole host of things they could do to make the end transactions favorable for the guests if they choose too. It won't just be the resort owners trying to get into the 2042's everyone will want to stay one last time and remember all the awesome vacations we've had there.

Hope I'm still around to see it play out.

 

[muppets3d]

You could be spot on right, for all I know. I tend to seek positive not negative in all situations. But with Disney money, there is a whole host of things they could do to make the end transactions favorable for the guests if they choose too. It won't just be the resort owners trying to get into the 2042's everyone will want to stay one last time and remember all the awesome vacations we've had there.

Hope I'm still around to see it play out.

The last sentence I will certainly agree with - and concur with!

 

[DebbieB]

If you defaulted on a 2042 contract but had other contracts expiring later, could they freeze them?

 

[DebbieB]

You could be spot on right, for all I know. I tend to seek positive not negative in all situations. But with Disney money, there is a whole host of things they could do to make the end transactions favorable for the guests if they choose too. It won't just be the resort owners trying to get into the 2042's everyone will want to stay one last time and remember all the awesome vacations we've had there.

Hope I'm still around to see it play out.

When I bought VGC in 2020, I noted that it expired 1/31/2060, which happens to be the month of my 100th birthday. When I told my 2 friends, I invited them to one last party. One made the comment that I need to get a larger room so there is room for our scooters. ;-)

 

[Sandisw]

I disagree, DVC has inventory all over that property and I do not believe they will allow my final 170 points at BCV or BRV to be rendered worthless, I think they will have some idea on how to handle accommodations at other resorts out of their own inventory to finalize the contracts if it comes to that. Especially since a large majority of owners myself included own thousands of points at other resorts that won't be expiring. I do imagine a lot of owners will borrow and use those points at a different resort if possible before the "rush at the end" starts.

If owners are making reasonable efforts to use their points in that final year with no success they will at the very least buy them back, like they did in "magical beginnings" offers. Unless brand protection dies altogether in the next 15 years DVC will not want a bunch of dissatisfied DVC owners taking to social media on how they were left high and dry with 2041 points.

DVC has yet to fall into the category of "standard timeshares" I choose to believe they won't go that direction in 2042 either.

Guess we'll have to wait and see.

I think they will definitely find ways to make it easier for owners to use all of their points by making adjustments in several areas.

But, they can’t allow owners to use their points after expiration because it would violate FL timeshare law in that no inventory tied to those points exists.

So, they would basically be giving 2042 owners their own points at other resorts if they want to allow stays beyond January 31st.

I do not see that but do see them changing home resort priority period, curbing banking and borrowing, and even allowing owners to “trade” their points for a fee at restricted resorts. My guess is they won’t touch breakage at those resorts either.

All speculation and we have a long time before we have any idea what they are thinking or what DVC will even look like by then.

 

[muppets3d]

Maybe by then PopCentury will be a dvc deluxe resort so they’ll have plenty of rooms to swap folks into.

 

[muppets3d]

If you defaulted on a 2042 contract but had other contracts expiring later, could they freeze them?

Just because the deed expires in 2042, does that mean the financial responsibility expires in 2042? I don't think so.

 

[CarolynFH]

Just because the deed expires in 2042, does that mean the financial responsibility expires in 2042? I don't think so.

Of course the financial responsibility will expire for me - as of February 1, 2042, I will no longer own any part of BWV. Neither will any other individual owner. Per my contract, the BWV condominium association ends on January 31, 2042, and my deeded interest in BWV expires on January 31, 2042, as well. Ownership reverts to Disney. Disney is then responsible for all expenses, unless of course they sell to new owners.

 

[CarolynFH]

If you defaulted on a 2042 contract but had other contracts expiring later, could they freeze them?

I don’t think so - per current Florida timeshare law, the only thing the timeshare management can do if the owner defaults on dues is to foreclose and take back the timeshare property. They can’t go after that person for any additional funds or file a lien on any other property, etc.

 

[Sandisw]

Just because the deed expires in 2042, does that mean the financial responsibility expires in 2042? I don't think so.

Not sure I understand but once the deed expires, there is no more resort and thus all owners of those contracts are no longer owners with no more costs.

 

[Sandisw]

If you defaulted on a 2042 contract but had other contracts expiring later, could they freeze them?

If they are in the same membership, DVC can freeze that membership while you settle accounts.

Just like now..I had a dues issue once…didn’t set up auto pay for new contract… I could do nothing with my other contracts until it was settled.

Maybe in that way?

 

[drusba]

Is BWV the only 2042 resort with a villa (excepting OKW but there are the contracts that end in 2057).

BWV is the only WDW resort expiring in 2041 that has Grand Villas, but Hilton Head has them and Vero Beach has them them under a different name, Three-Bedroon Beach Cottages.

 

[muppets3d]

Not sure I understand but once the deed expires, there is no more resort and thus all owners of those contracts are no longer owners with no more costs.

maybe DVC will stop offering mortgages on these sold out resorts well in advance, but it is possible that someone may still be paying on a mortgage for one of these resorts when the points expire. That was my point.

 

[Sandisw]

maybe DVC will stop offering mortgages on these sold out resorts well in advance, but it is possible that someone may still be paying on a mortgage for one of these resorts when the points expire. That was my point.

DVD will definitely stop selling points to the 2042 points well before then because they won’t have them to sell as they won’t be spending money to RoFR them.

And, my guess is that any resale financing company won’t be giving mortgages that ends later than when property that ends.

So, once the deed ends, so will all expenses related to it.