As stated above, the simple answer is yes, but....
If both sets of points are in CUP and relatively close in the calendar, then no problem.
If one set or the other is in LCUP, then the LCUP 60 day reservation window applies.
If you are thinking of using 2 years worth of points from a single ownership week, that's doable, but could be difficult. One set of points would be in CUP, but the other set of points would either be in LCUP, or have to be borrowed. In either case, the 60 day reservation window would apply.