News Disney Vacation Club announces plans for more than 350 new cabins at Disney’s Fort Wilderness Resort

[nickys]

Which then poses the question of how it can be legal to offer a 49-year property ownership (and maybe an associated loan) in a property that only has a life span of 25 years. In the UK, I suspect a property lawyer that let you sign that sort of contract might lose their license to practice on the grounds that they hadn't spotted a potential lawsuit waiting to happen.

I suspect the new structure of the Palmetto trust has something to do with it.

You don’t buy a deeded interest in a property (cabin), like you do for other resorts. It’s a “right to use” instead.

Don’t ask me about the specifics, I am not a lawyer!

 

[nickys]

Thinking about it, the new Trust model of the cabins might make combining Lakeshore and the Cabins tricky.

If they were one and the same, like Kidani and Jambo, that means the ownership would have to be the same. Would that work for a traditional property?

 

[Fido Chuckwagon]

Thinking about it, the new Trust model of the cabins might make combining Lakeshore and the Cabins tricky.

If they were one and the same, like Kidani and Jambo, that means the ownership would have to be the same. Would that work for a traditional property?

They can put traditional properties in the trust if they want to. Other timeshare companies do this.

 

[nickys]

They can put traditional properties in the trust if they want to. Other timeshare companies do this.

But would that mean that the contracts at Lakeshore would also be non-deeded? Or could those be traditional DVC contracts?

 

[Fido Chuckwagon]

But would that mean that the contracts at Lakeshore would also be non-deeded? Or could those be traditional DVC contracts?

They could be non-deeded. There are a lot of different ways it could be set up.

 

[nickys]

They could be non-deeded. There are a lot of different ways it could be set up.

I don’t know why exactly but personally I wouldn’t buy a non-deeded contract. It feels like that “right to use” is less concrete than “you own a deeded fraction”. Legally that is probably not the case, but sometimes perception is more important.