Not sure what it means, but looking at the Orange County records on this, it looks like the deed behind this extension was sold by DVC in 2013 (likely taken back and resold). So it would be covered by the 2057 expiration of newly sold deeds. This is probably just some paperwork they need to do for all deeds sold after 2007. Perhaps they did some reconciliation and found some that were not properly extended and then had them recorded.
It does expire in 2042. Unless you purchased the 2057 extension. Or a court agrees with plaintiffs that the deed means what it says and that since WDW extended DVD's lease until 2057 and the DVC deeds don't expire until DVD's lease expires that the DVC deeds don't expire until 2057 either.
Is there a pending lawsuit regarding the extension at OKW? I suspect this is why DVC is trying to buy back as much OKW as they can. They are really active on 2043 contracts there and also sent out that insulting buyback offer a while ago to OKW owners. If they have to honor 2057 for all owners, you can bet there will be those that paid for the extension asking for a refund.
For what it’s worth, I haven’t read of a lawsuit, but I have read of multiple owners’ attorneys pointing out to DVC exactly what you pointed out about the ground lease. And I’ve also read that when a 2042 contract is sold, the sellers have to sign a quit-claim for the extension before Disney will pass on its ROFR.
Some percentage of owners signed the quit claim deed when the lease was extended--and probably a substantial number of them. As I understand it, anyone who didn't sign one (or didn't buy the extension) is being told they must do so as a condition of transfer if they sell their points. I will bet that's being applied to gratuitous transfers as well.
The strong arm of Disney...
No lawsuits yet, I doubt any court will grant standing until an OKW owner's 2042 points fail to appear in their account.
On the other hand, you still own that percentage of OKW so DVD/DVC can't sell it to someone else. If in 2041-ish around 25% of OKW is neither 2057 nor quit claimed that is a significant chuck of change. And missing 25% of dues would blow a significant hole in OKW's annual operating budget.
Out of curiosity, what's that based on? My assumption is that responding was more likely than not, and that most owners would see the two options they were given and pick one. I could definitely be wrong about that though; it's a WAG.
What makes you think they won't redistribute the operating costs among the viable owners, just as happens at other resorts with non-performing deeds? That's probably a death spiral, but who (at Disney) cares? It only lasts 15 years.
From listening to podcasts that include some former DVC salespeople. When they offered the extension, it wasn't long after that they made call and mailing blitzes trying to get people to sign to indicate that they didn't want the extension. It would seem they had to sign the quit claim. I don't think simply not signing up for the extension is enough of a leg to stand on for Disney. Otherwise they wouldn't be going to the extra measures now to ROFR and buyback inventory as well as have sellers sign the quit claim upon sale. They seem nervous enough about the issue to indicate they beleive they don't have a legal leg to stand on.
Admittedly informal polling on the disboards, my usual source for all Disney info. I'm not a regular...it's like putting your mouth to a firehose to get a drink of water...but when I've needed some piece of Disney info I can usually find it there.
I expect they will still be a viable concern in 2042 trying to sell DVC points - including all those quit claimed OKW 2042 points. You can hide a 2% rate, at 25% the dues become prohibitive. Plus I expect Disney won't want to give all OKW owners a reason to join a lawsuit instead of just those who own non quit claimed 2042 points.
If the Mouse had a way out, why haven’t they taken it yet? Why wait till the last few years before expiration. I suspect they don’t have a way out. If they did, they wouldn’t be buying up 2042 OKW contracts like they are and wouldn’t be forcing Quit Claims on sellers either.
