What is BVT? I honestly haven't looked into what is going on with Riviera, but I think I should get informed as they are handling the whole concept differently.
Buena Vista Trading. This DVC operating arm, much like the COncierge Collection, handles trades to non-Disney destinations that are not part of RCI. Buena Vista Trading handled the trades to Club Cordial resorts and Club Intrawest Resorts. At the moment, I don't think there are any BVT trades available.What is BVT? I honestly haven't looked into what is going on with Riviera, but I think I should get informed as they are handling the whole concept differently.
Buena Vista Trading. This DVC operating arm, much like the COncierge Collection, handles trades to non-Disney destinations that are not part of RCI. Buena Vista Trading handled the trades to Club Cordial resorts and Club Intrawest Resorts. At the moment, I don't think there are any BVT trades available.
I suspect they will be looking to sell new contracts, versus extend existing resorts. This is kind of semantic, kind of not. An extension has issues, as they found with OKW. Once the land lease extends, everyone is legally extended whether they "buy in" on it or not. It also assumes remaining in BVT (the parent condo association, allowing for 7 month swaps) at the existing agreement. Also, same point charts, which is the real killer of an extension versus a new inception.
Given the agreements under which Riviera and Reflections are joining BVT, it's pretty clear that unless they change that agreement over time, Disney won't want to "extend" any resorts under current association terms.
Unless something changes drastically, they also will want new point charts at BCV and BWV. Riviera is the best clue you have to that. Riviera has a premium point chart compared to those two, and isn't actually walking to two parks.
So I bought into an extended contract with Disney and paid 3k to extend the years on my 150 point contract. So what you are saying if I didn't buy in they would have extended the date anyway.
Does the 2057 end date mean they can’t change the point charts for OKW (aside from reallocations) until then too?
Do you mean that they are looking to revert the extension of years.A few owners are still refusing to sign the rights to the extended years over to Disney in order to find out. Last I heard, Disney had stopped pressuring them to sign by threatening a lien. So most likely we won't know for certain until the early 2040s...
Am I correct Donna that your contract is at OKW for which you paid the $3K to extend? And, how did you do that? I mean, did you buy a non-extended contract and then at some point you had Disney provide you with the details and a separate agreement for the extension?So I bought into an extended contract with Disney and paid 3k to extend the years on my 150 point contract. So what you are saying if I didn't buy in they would have extended the date anyway.
I wonder, could they do two point charts? Basically a grandfathered point chart for the extended points, and a heavier point chart for new sales after 2042?Correct.
Well, they can try to a point like they tried with the 2020 points charts . And there is the lock-off premium. But they can't just come in and say the points will be the same as VGF or Riviera.
I bought my original contract from Disney and the about 10 years later the Disney broker called and offered it to me. This was all done through Disney and they contacted me.Am I correct Donna that your contract is at OKW for which you paid the $3K to extend? And, how did you do that? I mean, did you buy a non-extended contract and then at some point you had Disney provide you with the details and a separate agreement for the extension?
Thank you! I thought Donna that yours was a recent purchase. This makes more sense to me now. Thanks again!I bought my original contract from Disney and the about 10 years later the Disney broker called and offered it to me. This was all done through Disney and they contacted me.
This they can not do because everything is tied to the exact same Ground Lease. So there isn't a differentiation between before and after 2042 and never could be. For all intent and purpose the resort and all points go to 2057 with the same terms. Some owners decided to pay the special assessment to get the points until 2057, some owners signed their ownership back to DVC after 2042, and some owners did neither hoping they get a free extension to 2057, which might be likely because they haven't levied a lien on any property yet like they claimed.I wonder, could they do two point charts? Basically a grandfathered point chart for the extended points, and a heavier point chart for new sales after 2042?
No they are hoping that DVC can't take the points away from them in 2042 and they have the points until 2057 (if they didn't sign the rights back to DVC after 2042 or didn't buy the extension) because the contracts are tied to the ground lease and the ground lease was extended. DVC was/is a very difficult spot with this extension. The question really will be could DVC ever have charged for the extension, that is what these owners are ultimately going to test.Do you mean that they are looking to revert the extension of years.
This they can not do because everything is tied to the exact same Ground Lease. So there isn't a differentiation between before and after 2042 and never could be. For all intent and purpose the resort and all points go to 2057 with the same terms. Some owners decided to pay the special assessment to get the points until 2057, some owners signed their ownership back to DVC after 2042, and some owners did neither hoping they get a free extension to 2057, which might be likely because they haven't levied a lien on any property yet like they claimed.
We will likely see DVC at some point get even more aggressive buying OKW back to convert them to 2057 to prevent this from happening on a large scale I'm guessing.
Ok, so DVC was trying to force original owners of OKW contracts to pony up more money for an extension? But many didn't and that is why I have a 2042 OKW contract?