A contract is essentially a purchase of a deeded fraction of a specific declared unit.
And I don’t thnk you can have a partial unit deposited into a Trust.
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They don’t have to split anything or get lucky. Anything they pick up with ROFR would just be put into the trust portfolio & resold as part of palmetto trust.
They can not redistribute what’s already owned but if they buy things back at ROFR they own it and can do with it as they wish.
Using MVC again as an example because the trust was developed by the same company. The long short is Marriott started out selling weeks units - when they created the points “trust” they pretty much didn’t build anything new they just redefined how the new sales would go, trust points. Undeclared inventory went into the trust & anything they took back in ROFR went into the trust. Any other companies they took over became part of the trust…
Not saying this is what will happen with DVC but just that it is absolutely possible. They definitely have a plan to do something. What it is I have no idea.
- On a side note just curious if any of the cabins owners have actual deeds registered with the county.
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But even if those points are owned by Disney, I thought they couldn’t take points out of the system, once they had been declared. So Disney couldn’t buy back 1/4 of BCV and then only have 75% of the inventory available to book - once those units have been declared - right?
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If they go that way they wouldn’t necessarily take it out of inventory but shift it…we aren’t actually owners but “right to use” lease holders. We still would have to be able to book what we contracted for…For example Marriott weeks owners still have their interests those that upgraded to points have their own inventory…again no idea if Disney is headed that way.
What they are offering with the cabins is a trust something completely different. It isn’t a land based lease/fractional. Its deeds reads a little differently.
With the trust Disney has way more control-
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I knew the trust for the Cabins was different. And some think because of the fact they are mobile homes, it might have required something different.
I just thought they couldn’t move declared inventory from the current system to a new one. And if they could, as @Nicky_S says, wouldn’t they have to own every single contract for a single unit in order to move it?
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As @heathernoel also said, I don’t believe they can move partial units into the Trust.
Units are specifically identified before a resort goes on sale. And contracts state what proportion of a specific unit that deed covers.
Do you know otherwise?
I also don’t think Marriott is a Condominium Association. Wyndham definitely isn’t. That’s why DVC can’t follow their process.
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I meant to mention this part - seems like a key point.
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Wyndham has more than 3 types of programs - we have both right to use and trust points…again same thing they have deeded memberships and club points sharing the same inventory…
And Marriott is indeed has HOA condominium units- they no longer sell them but they are out there- if your familiar Grand Vista in Orlando and wanted to buy in there directly you would need to purchase abound points- here is a snippet from our deed from the controllers office, it shows it’s a fractional HOA condo contract.
I can pull copies of our deeds up from our Wyndham also showing the condo/hoa in Vegas if you need it…in Orlando with Wyndham we have access points (trust) no deed, just a certificate that allows us a RTU-
Yeah that’s the going theory- Again I just think it’s possible
Do I have inside information **absolutely not **
Is it possible ? Completely different question- the way it stands now no could they be prepping for 2042 maybe…
Would it effect current owners - nope
Might it affect future owners - absolutely. It is a way that gives them more control…
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This crossed my mind as well.
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