I think everyone is over complicating this. I am sure Disney wrote the contracts to give them enough leeway to do this, it sounds like the same kind of industry-standard language used by systems like Wyndham and Marriott that all figured out how to offer these products without violating the home resort rights of other owners.
To put it even more simply: Right now, Disney owns tons of points in each resort (I’m confident it’s more than 8,000). They rent those points for cash. There is really nothing stopping them from selling points in another product, and letting people use that product to “rent” Disney’s points. Instead of giving cash to Disney, you’d be using the points you bought from them. (This analogy is a little rough, and it wouldn’t work exactly like that based on existing timeshare laws, but Dioxide already pointed out that the 8,000 point limit doesn’t apply to Disney itself). The new product would not be a deeded points product, it would be a trust points product. It would not in any way change the ownership interests or rights of existing owners.
Edit: And to be clear, I still don’t think Disney will actually do this, because it seems to be in direct conflict t with their resale restrictions strategy. I think it would be great if they did do it, but I doubt they will.
The point I think I am trying to make is that the FL statute defines things clearly and you either set things up as a non specific timeshare plan in which one doesn’t buy a right into any one resort or a specific timeshare plan that you do. And, those types of plans are not an exchange plan.
The current resorts were set up legally to be a specific timeshare plan, which is why we have the right to book a specific resort with our points. All units in the current resorts must be sold the same way. They can’t sell some units one way and some units another way.
The thing one can’t confuse is home resort and the trading into BVTC which is an exchange program. That is why we get to trade out to the other DVC resorts.
The reason there can be resale restrictions for trades is because our plan is a specific timeshare plan which deeds us to one resort. Everything else is an exchange which has different rules that don’t need to be the same.
Its why a resale and direct owner of RIV and VDH have the exact same rules when it comes to using points where they own…but don’t have the same rules to exchange points to the other DVc resorts.
DVD doesn’t have the authority to sell non specific ownership interests to anyone that are tied to the units in the current resorts. Future ones? Sure.
Now, DVD can certainly rent to whomever they want the points that they own and can set up a program in which people pay a fee to book a room via DVD…but DVD still remains an owner and has to follow the same booking rules as everyone else.
I guess I am just confused as to what product they would be selling to someone…to exchange…
If not ownership into a current resort.
Now, what they could certainly do is, like I mentioned above is allow owners to have more than one transfer per UY so they can get other home resort points into their account more often to use during a home resort booking, or let owners pay for OTU points owned by DVD with their own points instead of cash.
If that is what you are talking about, then yes, that can be done within the current situation, since it doesn’t mess with the whole one to one right to use rule that must balance at a resort.