I would not do it. The partnership usually works OK in an Airplane if set up right because the FAA has certain guidlines on when maintenance is to be performed and if you don't do the maintence, you don't fly. Each partner pays into the Maintenance account by the hours that they fly and when that time comes, the account pays for it. Also each partner tops off all fuels and fluids when parking the plane after your flight. But with a Motorhome, how do you set that up? I might say we need to replace the brakes and my partner might say they are OK, let it go!!! I might be a handyman do it yourselfer and do all the regular maintence myself and do I get paid for my labor? I see to many complexities that would just sour the RV experience for me. I know, I was in partners on a speedboat, at first we always went together and split everthing 50 50. Think a long time before making a decision. Good luck
Othertonka
2004 Southwind 32VS 8.1 Workhorse chassis
2002 CRV Toad
U. S. Gear Unified brake system
Retired Fire Captain, SFD
Much depends on your point of view. You have named your RV Elvis. It is not a possession, it has become something much more personal to you. How would you handle an accident, a breakdown, a water ring left on the table. I personally have no hesitation letting my children borrow the RV. I want them to enjoy RVing as much as I do, and have the benefits of the rig. I know from many previous postings that many RV owners have significantly contrasting views. People share assets all the time...business partnerships, condo developments, marriages. But if you do not want to make a friend into an enemy contact a attorney, form a partnership, LLC, Corp, whatever, and sit down and anticipate all the worst. Cost, repairs, obligations to maintain, resolution of date disputes (flip a coin, rock/scissors/paper, etc). End of contract resolution. What if one of you becomes ill or worse.
Personally, among family or friends (sometimes closer than family) I think it can work, but only if both parties enter with open eyes, all conditions are discussed in advance, and no one takes any thoughts for granted. Get an attorney and make this a working business relationship. Just my opinion. Best of luck and happy trails.
MargaretB wrote: We have friends who are interested in talking to us about shairng ownership of Elvis. It makes sense to us because none of us use it that much - we've done a month-long trip, three week-longs, and two long-weekend trips since last May - so we're going to meet to talk about it this week.
Has anyone here ever done anything like this? What are the mechanics of it? I'm adding up everything we've paid (the coach, hitch, transmission repairs, furnishings inside, equipment and supplies, canvas cover, and so on, but not routine maintenance like oil changes) and assume that they will pay us for half if we all agree to do this. But how about storage? (It's currently on our property and will probably stay there because they don't have the right kind of space.) How about usage ratios? How about if one party decides to sell? Maintenance? Do we set up a corporation with a checking account?
Has anyone done anything like this?
Thanks!
Be prepared to suffer the eye bulging, arm flaying, smirking, ‘whatta ya think Bert’, screaming insults of Judge Judy. These are the situations, which swamp the court systems today.
This is a situation, which only works, in a highly structured legal concept where the ‘owners’ are under the control of an independent manager of the shared property.
The expenses are excessive and the restrictions make the use of the object cumbersome and unpleasant.
Gone are the days when you have an unexpected span of four days without obligation and say: “ hey, lets go to xyz state park for the weekend”. Or: “My sister is getting married and there is a campground three miles from the event, lets take the RV”. The point is that owning an RV gives you an option to use it at will. Choice and discretion is the most relaxing feature of RV ownership (90% of the enjoyment of your RV is the fact that YOU can choose to use, or not use, it at your discretion.)
I vote: NO, NO, And NO! I would rather own a tent and maintain my freedom of choice than suffer the conflicts of joint ownership.
If you don't use it that much, tell them you will sell it to them, and then they can rent it to you when you need it. If they don't go for that, well, you know the reason why.
Mike and Carole
2006 Triple E Regency 27 foot SXL
2005 16.6 Double Eagle
First, check with your insurance carrier.
Then, check into a good, iron-clad, copper bottomed, cast in concrete rental agreement that you can have your friends sign. RENT Elvis to them now and then. That way, they have no claim on it, and liability issues are (hopefully) covered by the Rental Agreement (you might want an attorney to handle writing the agreement).
I, too, have seen joint ownership agreements on aircraft, and they often go sour.
I would not do it on an RV. Rent it to them, maybe. joint ownership, no way!
Are you willing to share your "HOME" too? My MH is my home too and I don't share. Posted by Mrs Crazy Ray. They'll be friends no more.
RET ARMY , DW Donna , Summer (Furkid) . Class A, 2000 Gulf Stream, 4 SAMS 6VOLTS, DIRECTV, YAMAHA 2400 GEN , TOW 97 Wrangler/Honda CR V. Garmin GPS 7200 . "Living Our Dream". NASCAR FAN (14,18,,20,11) Love CO & NM
We co-purchased a ski boat with my brother, figuring everything would work perfect since he and I had fished, hunted, snow/water skiied, and vacationed together from high school for years.
But when we both wanted it the same week-end who won? How soon was it to be cleaned up after usage? How long could each party keep and use it at one time? After almost 10 years of this, it finally broke up the closeness he and I had together for the previous 20 years.
Pardnerships are problems waiting to happen. I would never do anything like that again.
Also, how much wear and tear will be accepted from each partner without completely replacing the items, (seats, chairs, carpet, upholstery).
I've been involved in fractional ownerships of airplanes.
We all formed a club, paid equal amounts, bought a plane. We had bylaws and an expense and operating budget. (It would have been cheeper just to rent a plane but we would not have had bragging rights) As motorhomes are not as well maintained as airplane's the biggest issue I see would be in repair and maintenance. (missuse).
Another option would be to set up a leasing operation and lease it out for a cost you can live with. Check with your CPA if you have one. Most people will say you should not do it. I agree its a long shot but its your call. Good luck.
What is in this for you? Your MH is paid for and you have it parked on your property. Right now, you pay maintenance, repairs and insurance.
In the partnership, you will share these costs, but what happens when something gets ruined or broken because they were negligent or misused the MH? Still wanna share? Do you really want to bicker over towels being folded the wrong way or the MH not being as clean at the end of the trip as it was at the end of your last trip?
Why do they want to do this favor for you?
Let's say they give you 1/2 the value of the MH now, use it 2 years, bang it up good, decide to buy a new one and force you to buy them out at the value of the MH 2 years from now? You get and older, more used, less valued MH on your property and have to come out of pocket to have it there.
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, DW Donna 
. Class A, 2000 Gulf Stream, 4 SAMS 6VOLTS, DIRECTV, YAMAHA 2400 GEN 
