Disney Vacation Club has adopted a new policy of placing a hold on contracts when they are passing through the Right of First Refusal process.
According to a post on the DISboards, Disney Vacation Club is placing a hold on points that are involved in a transfer of ownership. The full message reads as follows:
In accordance with the signed contract we have received for the sale of the above stated Disney Vacation Club Ownership Interest, we have instituted a “hold” on the Vacation Points associated with this Ownership Interest. During the hold, these Vacation Points cannot be used. As provided in your Purchase Agreement, Disney Vacation Development, LLC may decide to exercise its Right of First Refusal and purchase your Ownership Interest at the price stated in your Third-Party Real Estate contract. At the conclusion of the purchase, the hold will be lifted. If Right of First Refusal is waived or we receive written notification the aforementioned contract is cancelled, the hold will also be lifted.
Disney Vacation Club has right of first refusal on most transfers of ownership. Disney will review the contract between seller and buyer, and has the option to purchase the points themselves at the stated terms.
Disney has up to 30 days to exercise its Right of First Refusal, though in practice it often happens faster than that. The account hold prevents the current owner from using any of the points toward new reservations while it is passing through Disney's review process. The hold is reportedly lifted as soon as the ROFR process is complete, leaving some period of time during which the points could--intentionally or unintentionally--be used before the transfer is complete.
