Most healthy- resorts with less than 8-10% defaults (and even some less than healthy HOA's) are usually pretty proactive in extending or eliminating the sunset clause. Usually sometime 3-5 years before (which sounds like the timeframe on yours), they bring it up and set everyone in a panic that they have to vote or you will lose everything, type of message. They do it this way because if they don't most people will not bother to vote. They don't give a balanced message in that for many resorts letting it sunset and selling and splitting the proceeds may be a better option for most owners. Older resorts have more maintenance issues and the MF's keep rising. Which in tern leads to defaults that the other owners have to cover and the MF's rise even more which leads to more defaults. If the MF's start to get in the $3000+ the resort isn't going to last and you still won't have anything to show for it. When you get into the MF's death spiral, the debts increase and there is less a chance that there will be any net profits. Disney isn't going to want to buy your resort, but maybe it could be sold to someone who wants to develop it for condos or wants the land to build something else. Planning ahead well in advance is the proper thing to do. To me a sunset clause is the one and only chance you can get out free and clear with only a simple majority. If you love your Orlando area timeshare so much, other than DVC you can get most resorts for free and maybe 5% (or less) will have a resale value in the $100-$1000 range. Your resort for example on the resale market has no resale value. If they vote to extend or eliminate the sunset clause, you probably could get a dozen more for just the closing costs.
How long ago did you buy? I think all Florida timeshares built between certain dates have sunset clauses and usually have the procedures in place to vote to extend it or eliminate it.
