Splitting DVC ownership with family members or friends can reduce costs and make membership more accessible. However, shared ownership requires careful planning and clear agreements.
Benefits of Joint Ownership
- Lower upfront cost - Split the purchase price and closing costs
- Shared annual dues - Divide yearly maintenance fees
- More points - Together you might afford a larger contract
- Built-in travel companions - Coordinate trips with your co-owners
Potential Challenges
Issues to Address Before Buying
| Challenge | Consideration |
|---|---|
| Scheduling conflicts | Who gets peak seasons? Holiday weeks? |
| Point allocation | How do you split points fairly each year? |
| Unused points | What if one partner cannot travel? |
| Exit strategy | What if one person wants to sell? |
| Death/divorce | Who inherits? How are assets divided? |
| Non-payment | What if a partner stops paying dues? |
Ownership Structures
Joint Tenants with Rights of Survivorship
Each owner has equal rights. If one owner dies, their share automatically passes to surviving owners. Common for spouses and close family.
Tenants in Common
Owners can have unequal shares, and each can sell or bequeath their portion independently. More flexibility but more complexity.
Creating a Partnership Agreement
Regardless of legal structure, a written agreement should address:
- How points are divided each year
- Process for booking - who books first, rotation system
- How dues and special assessments are split
- Right of first refusal if one partner wants to sell
- Buyout procedures and price determination
- What happens if someone cannot pay their share
- Dispute resolution process
Legal Advice Recommended
Consider consulting a real estate attorney familiar with timeshare ownership. The cost of legal advice upfront is far less than litigation later if disagreements arise.