Disney Offers to Buy Back DVC at Aulani Contracts After Maintenance Fee Miscalculation

Tim Krasniewsk is reporting that Disney Vacation Club has released a statement detailing how maintenance fee credits will be handled for Disney Vacation Club owners who purchased Aulani contracts prior to July 27, 2011- when Disney suspended sales after discovering an accounting error had miscalculated annual dues for the new resort in Hawaii.


The credit announced for 2011 will be $1.4243 per point, and will be adjusted similarly each year throughout the life of the ownership until the leasehold expires on January 31, 2062. Each year, Disney Vacation Development will issue a credit to all owners who purchased, thus subsidizing the annual dues for the life of the vacation ownership. The report also states that the subsidy will be able to be transferred via resale for those specific contracts.


Finally, if any members are unsatisfied or have decided that they no longer want the DVC ownership, Disney has offered to give those members a full refund of their entire purchase price and "buy back" the Aulani ownerships.

"...We want everyone to be satisfied with their purchase. If you decide that the changes described in this letter and the enclosures are not acceptable to you, you may cancel your purchase by sending us written notice within 30 days of your receipt of this letter .... Upon receipt of your signed and notarized re-conveyance documents, we will refund all amounts you have paid to us, plus interest, (and, if applicable, cancel your mortgage and note) within 20 days...."