i need some advice.

[DHH]

My wife and I are considering buying into DVC. What happens when the time is up in say 30 years. Is the timeshare ours to keep or does Disney get it back and all we have to show for this time is the memories of staying in a DVC and the pictures from the past 30 years? Thanks for any and all help.

 

[GoofGoof]

My wife and I are considering buying into DVC. What happens when the time is up in say 30 years. Is the timeshare ours to keep or does Disney get it back and all we have to show for this time is the memories of staying in a DVC and the pictures from the past 30 years? Thanks for any and all help.

It is not yours to keep. Each contract has an expiration date when the ownership goes back to Disney. The first wave of DVCs expire in 2042 with the newer ones extending out further.

 

[Tom]

My wife and I are considering buying into DVC. What happens when the time is up in say 30 years. Is the timeshare ours to keep or does Disney get it back and all we have to show for this time is the memories of staying in a DVC and the pictures from the past 30 years? Thanks for any and all help.

You are buying temporary real estate. You own the real estate, but Disney automatically takes ownership back from you at the end of your contract.

 

[slappy magoo]

You are buying temporary real estate. You own the real estate, but Disney automatically takes ownership back from you at the end of your contract.

And while that may seem like you end up with nothing, do a search on timeshare on ebay. People are giving away timeshares. Literally. If you own a timeshare forever you are responsible in part for its upkeep and maintenance, forever. You die, it becomes your heirs' burden. If they want it, great. If not, they are responsible until they can sell it. No matter how exorbitant maintenance fees get, you own it. DVC, you know that a: it will not be a headache forever, b: it maintains a high resale value and rental value (for now anyway) so if your heirs don't want it they shouldn't have much trouble selling it.

 

[EOD K9]

And, as of now, nobody knows if DVC will offer extensions. There hasn't been, to my knowledge, a definitive answer on that yet. If you're interested and can afford it, buy it.

 

[Phonedave]

And while that may seem like you end up with nothing, do a search on timeshare on ebay. People are giving away timeshares. Literally. If you own a timeshare forever you are responsible in part for its upkeep and maintenance, forever. You die, it becomes your heirs' burden. If they want it, great. If not, they are responsible until they can sell it. No matter how exorbitant maintenance fees get, you own it. DVC, you know that a: it will not be a headache forever, b: it maintains a high resale value and rental value (for now anyway) so if your heirs don't want it they shouldn't have much trouble selling it.

I agree with Slappy 100%. One of the factors that made go with DVC is that it does end. I have a friend with a timshare that he cannot get rid of. The company will not buy it back (they still have unsold units THEY are trying to get rid of). They can't sell it resale (I have seen the exact same contract they have selling for a dollar - really, a dollar, and they are getting no offers). Their jobs have changed and airline routes have changed and it is no longer as easy for them to get to the Grand Caymans, so they don't always use it. They are still on the hook for their dues every year, plus the 'special assesments' that happen whenever a hurricane blows through.

I am glad that the ROFR keeps my resale value high, and that eventualy my obligation to pay dues will end.

-dave