The Dreaded 2042

[MICKIMINI]

Why one is your favorite out of the two and why?

VBR reminds DH of his grandparent's home in Gloucester MA on the ocean. When we sit on that porch, rocking away in the afternoon it is like being there again. Enjoying that huge porch lined with rockers, listening to the waves and squawking gulls. He spent summers there with all his cousins, aunts and uncles as a kid while I was traveling the US with my family. We had very different vacations as children, but I agree that whiling away an afternoon on that porch at Vero is absolute bliss!

 

[kanerf]

I will be 83 so I don't really care. I imagine that I will dump all of my contracts before then.

 

[Girlstar30]

Im

VBR reminds DH of his grandparent's home in Gloucester MA on the ocean. When we sit on that porch, rocking away in the afternoon it is like being there again. Enjoying that huge porch lined with rockers, listening to the waves and squawking gulls. He spent summers there with all his cousins, aunts and uncles as a kid while I was traveling the US with my family. We had very different vacations as children, but I agree that whiling away an afternoon on that porch at Vero is absolute bliss!

I'm almost afraid to go there because I know my wife is going to want to purchase after

 

[MICKIMINI]

Im
I'm almost afraid to go there because I know my wife is going to want to purchase after

Not when she sees the MF's! It is dirt cheap to buy now, but you may regret it in the future. Better to buy SAP IMO!

 

[Girlstar30]

Not when she sees the MF's! It is dirt cheap to buy now, but you may regret it in the future. Better to buy SAP IMO!

I am more the math person, she is the emotional one lol. She was driving me crazy with wanting akv just because she wants that to be the one to call "her home". I'm like we will get 13 more years with Riviera and lots of avail for animal kingdom sv. Nope doesn't care "I like AKV and that's where I want my home to be"

 

[MICKIMINI]

I am more the math person, she is the emotional one lol. She was driving me crazy with wanting akv just because she wants that to be the one to call "her home". I'm like we will get 13 more years with Riviera and lots of avail for animal kingdom sv. Nope doesn't care "I like AKV and that's where I want my home to be"

Okay, well I guess I know where you will be staying LOL!!

 

[Girlstar30]

Okay, well I guess I know where you will be staying LOL!!

Yes we will be there many times lol

 

[CarolynFH]

Feel free to not answer this or post a link because I'm sure this has been discussed numerous times here lol, but why was the OKW extension such a disaster? Is it because people were just not interested and now they will be stuck with selling that hotel again after 2042?

Basically, DVD tried to force OKW owners to pay for points they wouldn’t be able to use for 30 years by telling them that their choices were to pay up or sign a quit claim deed for the extension. Some owners did pay and some did sign the quit claim, but others who did nothing had their accounts suspended. Lawyers got involved and contended that extending the ground lease automatically extended the ownership term to everyone. Disney backed down, so that issue hasn’t been litigated. The result is that a percentage of ownership of every building at OKW ends in 2042, and another percentage ends in 2057. When 2042 rolls around, ownership of the other 2042 resorts reverts entirely to Disney, so they can tear down, rebuild, remodel, whatever. They cannot do the same to OKW because they won’t get full ownership until 2057.

 

[Girlstar30]

Basically, DVD tried to force OKW owners to pay for points they wouldn’t be able to use for 30 years by telling them that their choices were to pay up or sign a quit claim deed for the extension. Some owners did pay and some did sign the quit claim, but others who did nothing had their accounts suspended. Lawyers got involved and contended that extending the ground lease automatically extended the ownership term to everyone. Disney backed down, so that issue hasn’t been litigated. The result is that a percentage of ownership of every building at OKW ends in 2042, and another percentage ends in 2057. When 2042 rolls around, ownership of the other 2042 resorts reverts entirely to Disney, so they can tear down, rebuild, remodel, whatever. They cannot do the same to OKW because they won’t get full ownership until 2057.

Wow why would they ever think this was a good idea. If they came at me like that i wouldn't sign it either...

 

[CarolynFH]

Wow why would they ever think this was a good idea. If they came at me like that i wouldn't sign it either...

Well, it was presented like “Look what a wonderful opportunity you have! You can extend your ownership for an additional 15 years for only $25 a point!” And considering how many posts I’ve read here over the years from people wishing they could extend their ownership at BWV or BCV, etc., I’m not surprised that some OKW owners took them up on it. And I’m sure the DVD execs were surprised that not everyone wanted to jump on it.

 

[Girlstar30]

Well, it was presented like “Look want a wonderful opportunity you have! You can extend your ownership for an additional 15 years for only $25 a point!” And considering how many posts I’ve read here over the years from people wishing they could extend their ownership at BWV or BCV, etc., I’m not surprised that some OKW owners took them up on it. And I’m sure the DVD execs were surprised that not everyone wanted to jump on it.

$25 a point is actually really good, I would be signing

 

[CarolynFH]

$25 a point is actually really good, I would be signing

Well, I can’t remember what the cost of direct points was at the time. It was much less than now, for sure.

 

[Girlstar30]

Well, I can’t remember what the cost of direct points was at the time. It was much less than now, for sure.

They probably should have put some kind of clause like "if enough owners sign, then this will go through"