Timeshare ownership with friends and family

[prajora]

New to Timeshare ownership. Do own a HGVC -not resale. So not very smart decision. But do enjoy the resort stays now.
Q 1:
Is is possible to own jointly TS with another friend or family member? That way we can share buying cost, Yearly mainteance etc.

Q2:
Are there certain TS more friendly to joint ownerships? Which ones?

Q3: Live in northern California. HGVC resorts more in So Cal. Would say resale Wyndham or RSI ownership be good to consider. Drivable range resorts.

Thank you TUG member. Wish I found this before making mistake of buying TS directly. Never too late.

Pari

 

[geist1223]

When you share timeshare ownership with family (not spouse) or friends you need to work out responsibility for shared costs (maintenance fees etc) and you need to work out usage. This should be in writing signed by all parties. Additionally what happens if a person does not pay their part of the shared costs.

 

[SHG]

Q1: The answer is 'YES'. You can jointly own a timeshare with friends or family. (Note: There is likely a limit of 2 or 3 names that may be put on the ownership)
Q2: I certainly don't know about ALL timeshares, but I cant imagine any of them that would prohibit joint ownership. This is nothing more than 2 names on a deed or ownership.
Q3: If you are looking for timeshares in a certain location (drivable range from you), you can go to the RCI or Interval website and look to see exactly what timeshares are in the area of interest.... Then you can decide, do you want beaches, mountains, skiing...??

 

[vacationtime1]

Although one can co-own a timeshare with a friend or family member, it is fraught with issues: death, divorce, disability, or distain; one owner wants or needs to sell and the other cannot afford to buy out the other or doesn't want the annual commitment. A written partnership agreement could resolve some/most of the possible issues, but the cost of writing such an agreement would negate the savings.

Why not buy an every other year unit solo?

 

[prajora]

Although one can co-own a timeshare with a friend or family member, it is fraught with issues: death, divorce, disability, or distain; one owner wants or needs to sell and the other cannot afford to buy out the other or doesn't want the annual commitment. A written partnership agreement could resolve some/most of the possible issues, but the cost of writing such an agreement would negate the savings.

Why not buy an every other year unit solo?

Let’s say one can buy RCI on resale for $500, $400 is annual maintenance. Use the benefit of RCI points for 10years. Sell after 10yrs. Is this is good plan whether done by 1 person or 2 in patnership? Thx