Change In Use Years With ROFR and Foreclosures.

[Mr Tom Morrow]

With thanks to DVC News.

In the past, Disney assigned a Use Year to a Residential Unit when it was declared for the DVC inventory, and all points allotted to a specific Unit had the same Use Year. Once the Use Year was assigned to a Unit and the points within, it never changed.

Now, when Disney sells points to the public it can assign any of the eight Use Years to those points. This means that a Unit may have points with different Use Years. It also means that when Disney reacquires points via the foreclosure process or when exercising its Right of First Refusal it can change the Use Years of those points when it sells them.

This change applies to all DVC resorts. The new language was already included in the original master declarations for the Copper Creek Villas & Cabins at Disney’s Wilderness Lodge and Disney’s Riviera Resort when they were filed in February 2017 and February 2019, respectively. The Membership Agreements for other 13 DVC resorts were amended on March 8, 2019 to include the new language.

Being able to assign any Use year to points as they are sold allows Disney to better respond to buyers’ needs. Previously, Disney was often forced to place customers on wait lists because it did not have points in certain Use Years even though it had an excess number of points in other Use Years for the same resort. Or it had to split a buyer’s request into two deeds because there was not enough points in a single Unit that had the same Use Year. The new rule permitting different Use Years within the same Unit should help alleviate these problems.

This change does not effect the ownership interests of current DVC members. Members’ deeds retain their original Use Year and will not change. Even if a Member sells their ownership interest on the resale market the points will retain their original Use Year.

This will certainly eat into the current waitlists DVC run trying to fulfill add on contracts

[Shani]

So this means if you buy an "old" resort from Disney, they can give you whatever use year you ask for, but if you buy resale, you're stuck with the original use year?

Guessing this is Disney trying to devalue resale even more, and pushing their own "perks" buying direct?

[Mr Tom Morrow]

Originally Posted by Shani

So this means if you buy an "old" resort from Disney, they can give you whatever use year you ask for, but if you buy resale, you're stuck with the original use year?

Guessing this is Disney trying to devalue resale even more, and pushing their own "perks" buying direct?

See more...

Basically yes Disney can fiddle with the Use Year now. They were never evenly spread anyhow so I dont know why it's taken this long to do it.

I remember maybe 8 years ago waiting for a 100 Point Dec use year add on for SSR and it took them about 2 months to find one for me.

Maybe people get fed up with waiting and go Resale is the reason?

I think it's probably because more people were waiting and it was getting an administratvie problem?

[YorkshireT]

Kerching.

[WDWMAD]

Just been reading about this, can't believe it has taken this long for them to change it to be honest, thought they would been on this years ago. They really are trying to put resale out of business aren't they.

[gavvy]

Will help them flip all those riveria contracts and sell them a second and 3rd time.