What is the current 2042 status on existing points?

[ILoveMyDVC]

Our first grandchild is due to arrive this spring so 2042 is more real now. And, we have an upcoming trip planned before we knew he was coming so WDW is on the brain. We bought direct in 1994. Does anyone know what will happen if I call tomorrow to inquire about the status? Is an extension available? How much will it cost? Does it make sense? I've read speculations about what will happen in 2042, I want to know what will happen tomorrow and what folks think about the options now.
Thank you.

 

[_auroraborealis_]

Does anyone know what will happen if I call tomorrow to inquire about the status?

MS will say something non-commital or make something up.

Is an extension available?

No.

I want to know what will happen tomorrow

Tomorrow, they will continue to sell Riviera and Aulani.

No one, not even Disney, knows for sure what they will do in 2042. But they are not doing anything now, because to do so would mean extending land leases for the resorts, and they aren't doing that. If you want points that last beyond 2042, they will happily sell you RIV for $188pp or whatever it is.

 

[Frederic Civish]

Disney has not offered extensions since the debacle of Old Key West, and they are VERY unlikely to do so in the future.

The current contracts for 6 resorts expire in 2042, which is just a short time away, by Disney's reckoning. All they have to do is wait that out, and then take those resorts, refurbish them, and resell them for incredible profits. Any extension now would complicate things in the extreme. So, don't expect it.

If you want a longer contract, then buy a more recent resort on resale. Or, consider selling your current contract and then take the money and buy a newer contract. Yes, it will cost a bit more to get the same number of points, but it might also last longer, so it could be worthwhile.

 

[ILoveMyDVC]

Disney has not offered extensions since the debacle of Old Key West, and they are VERY unlikely to do so in the future.

The current contracts for 6 resorts expire in 2042, which is just a short time away, by Disney's reckoning. All they have to do is wait that out, and then take those resorts, refurbish them, and resell them for incredible profits. Any extension now would complicate things in the extreme. So, don't expect it.

If you want a longer contract, then buy a more recent resort on resale. Or, consider selling your current contract and then take the money and buy a newer contract. Yes, it will cost a bit more to get the same number of points, but it might also last longer, so it could be worthwhile.

I recall there was an extension - at first I was offered it but didn't have the money and then I was strong armed into it but didn't have the money and then it went away. So I know *some* people have it.

I would only want OKW - not interested in the new resorts. Are they selling OKW past 2042?

 

[ILoveMyDVC]

Disney has not offered extensions since the debacle of Old Key West, and they are VERY unlikely to do so in the future.

The current contracts for 6 resorts expire in 2042, which is just a short time away, by Disney's reckoning. All they have to do is wait that out, and then take those resorts, refurbish them, and resell them for incredible profits. Any extension now would complicate things in the extreme. So, don't expect it.

If you want a longer contract, then buy a more recent resort on resale. Or, consider selling your current contract and then take the money and buy a newer contract. Yes, it will cost a bit more to get the same number of points, but it might also last longer, so it could be worthwhile.

What if I bought a resale with a 2057 date - would Disney have to honor it?

 

[MB_Ellie]

Yes, a 2057 resale contract would be honored by Disney the same way that a direct one would be.

 

[mustinjourney]

I recall there was an extension - at first I was offered it but didn't have the money and then I was strong armed into it but didn't have the money and then it went away. So I know *some* people have it.

I would only want OKW - not interested in the new resorts. Are they selling OKW past 2042?

yes -- if you buy OKW direct from disney you will get a 2057 expiration.

 

[zavandor]

Have you signed the quit claim? If you haven't, than you might have the extension for free.

 

[_auroraborealis_]

Key words: Was offered. It was a limited offer in 2007. The offer has not been on the table in more than 10 years. Most owners did not purchase the extension, so you will see very few extended Old Key West ownerships for sale in resale. Direct purchase via Disney will give you the 2057 expiration.

But if you didn't take the offer in 2007, you cannot opt in now at any terms on an existing contract.

 

[Frederic Civish]

What if I bought a resale with a 2057 date - would Disney have to honor it?

Yes

 

[Frederic Civish]

Have you signed the quit claim? If you haven't, than you might have the extension for free.

I have also heard this is possible. Disney might not want the legal hassle of trying to get people to give up their deeds, if they didn't already sign them away. But, one way or another, wait for the screaming.

 

[ILoveMyDVC]

Have you signed the quit claim? If you haven't, than you might have the extension for free.

I did not

 

[bakerworld]

Our first grandchild is due to arrive this spring so 2042 is more real now. And, we have an upcoming trip planned before we knew he was coming so WDW is on the brain. We bought direct in 1994. Does anyone know what will happen if I call tomorrow to inquire about the status? Is an extension available? How much will it cost? Does it make sense? I've read speculations about what will happen in 2042, I want to know what will happen tomorrow and what folks think about the options now.
Thank you.

Congrats!

2042 is 22 years away - that's more than enough time for him to visit many times. In 2042 he'll be in College gearing up for a job or continuation of his education. Relax - IMO you are fine with your 2042 expiration date.

 

[ILoveMyDVC]

Congrats!

2042 is 22 years away - that's more than enough time for him to visit many times. In 2042 he'll be in College gearing up for a job or continuation of his education. Relax - IMO you are fine with your 2042 expiration date.

Thank you!
I know you are right but I am a giddy grandmother to be. Over the moon and already worried that he will not have the DVC when he graduates college before he is even born...

 

[ILoveMyDVC]

yes -- if you buy OKW direct from disney you will get a 2057 expiration.

Any idea of the going rate/pt.?

 

[Sandisw]

Any idea of the going rate/pt.?

I believe it is $165

 

[ILoveMyDVC]

I believe it is $165

Thank you

 

[GoingSince1990]

i have read that the deeds expire on Jan 31 of the expiration year. So as a BCV owner with a February use year, I am anticipating that my final points will be from February 2041 for stays anytime through January 31, 2042. I imagine Disney is eagerly anticipating reselling these resorts upon their expiration at maybe $600 per point or whatever the going rate will be at that point. My guess is that existing owners of expiring points will get a discount upon the purchase of new points, to provide a jumpstart to sales.

 

[crvetter]

i have read that the deeds expire on Jan 31 of the expiration year. So as a BCV owner with a February use year, I am anticipating that my final points will be from February 2041 for stays anytime through January 31, 2042. I imagine Disney is eagerly anticipating reselling these resorts upon their expiration at maybe $600 per point or whatever the going rate will be at that point. My guess is that existing owners of expiring points will get a discount upon the purchase of new points, to provide a jumpstart to sales.

That is correct 2041 will be the last points given to owners.

 

[zavandor]

I did not

OKW used to expire in 2042 because the lease for the land expired in 2042 (like the other initial resorts). DVC decided to do the extension extending the lease, basically extending the contracts to everyone and then asking owners to sign the quit claim to renounce to the last 15 years of the lease.
Someone say that since the lease is extended and you haven't signed te quit claim, DVC cannot deny you to continue to use your membership. If you want to sell, they require to sign the quit claim, so you cannot resell it with the later expiration, but if you keep it they cannot force you to sign.
What will happen in 2042 is not certain, but this is the theory.
What we know for certain is that DVC will not do another extension in the same way, really too messy. My guess is that they won't extend BCV and BWV (they'll be two gold mines with revised point charts and higher buy in cost), close/sell Vero and HHI and resell as a new resort BRV with a shorter expiration to match CCV and then resell both as a merged resort when they both expire.