Ownership Partner

I had a fractional ownership interest in a $250,000 boat one time. There were 6 partners and the biggest problem I had was scheduling. Everyone wanted the boat on the weekends only, especially holiday weekends. We sold the boat 6 years later for $37,000. I was thrilled when we sold it because I saved myself the vast majority of the loss.

I also have business partnerships in two businesses I own 50 / 50. I'm thrilled with both of my business partners.

I think your plan is totally doable. But try to agree on the structure of the partnership in advance.

Will maintenance always be done on time? Who will do the maintenance? Will the costs be split evenly or divided by miles / days, hours, etc? What about custom mods that one partner wants to do and the other doesn't? How clean is clean?

Try to consider any other points of contention mentioned above in the other comments as well.

I think it could be done, and it could work out very well. On the other hand it could turn out to be a nightmare. Lot's of downside risk as I see it.

60K or 120K is not chump change. It is not like you are splitting buying a 1000 dollar utility trailer. That kind of money (120K) can really screw ones life up. If the deal goes south.

I would want a contract that spelled out every detail, drawn up by an attorney, and legally enforceable. Problem is though, how would you collect if they go BK, or hide their money? Almost impossible

I would want to know the person's credit history and a financial statement.

My big worry aside from the above, would be what happens if one partner wants out? What if he got sick? or died? or was going to move across country? People's life change.

How will that be handled? Unless you have the horses to buy him out, that would be a big red flag.


Trying to get someone to buy half a 120K motorhome, would be I think very difficult.

As for buying on your own for 60K v 120K with a partner. I would say better a hovel in heaven than a mansion in hell. In my opinion just not worth the severe stress and sleepless nights that could happen. Way to much downside risk I think.

When I was a kid, Dad bought into a share with 2 other families on a houseboat moored at Lake Powell, Utah. The other two partners were family members, one a cousin of Dad's and the other Dad's step brother. I don't remember any problems, but we all used to go to the lake together, so don't know the details. I know a few folks who have shared ownership of houseboats. Haven't met anyone who shares ownership of a MH.

I tried to get a family member to go halfsies on my first motor home and failed so I went alone. I am sure it would have gone fine but many years later this one is ours and ours alone to enjoy. If we were sharing we would feel like we needed to literally move out of the thing every time it was their turn. That is one aspect that makes comparisons with sharing a plane irrelevant. Would have done it years ago but not willing to do that now.

1hraman, I was was in a co-ownership in an airplane for 15 years. Partner and I had use for plane for one week and I had the next one. If I needed it for his week, and he had no plans for use, I called and got it, and same with him. We flew about the same hours per year, so maintance was split. As per agreement, it was refueled after each flight.

We bought the plane in 1986 for $28 thousand and flew it for 15 hundred hours and sold in 2003 for 53 thousand. We never had no problems and partnersh worked out great for both.

Back in the 1970s when I was single, my dentist (also single) and I bought a Piper Commanche together. We laid out rules regarding maintanence, expenses, insurance, who had priority on using it, etc. and everything worked out very well.

THEN....he got married and his wife didn't like flying and demanded he sell his half. That is when it turned bad. He wanted to sell to the first person that said yes. I wanted to have a say so on who he sold to since it would now be MY new partner.

After a lot of angry back and forth, we both ended up selling the plane to one party. I bought a Cherokee by myself and said "no more" to partnerships. He and I ended up no longer friends and one year later he got a divorce.

Excellent feedback. Thanks to those who have responded

My brother just did this and so far so good. They are about 6 months in now and both use the rig heavily. They were friends beforehand and neither are material oriented. It is risky though IMHO

I am one of the owners who is very possessive of the 37', 100+K machine. I can count on one hand the folks I would hand the keys to. This has direct impact on the topic, because the reason I only have a few is, they already own or have driven a large motorhome. The ones I do not know or know that they have not driven a large MH do not get the keys.

There is another thing that would have to be in the agreement. No one borrows or drives our rig but owners.

This partnership would have to boil down to (written) agreements and trust to remember/stick to the contract.

1968mooney wrote:
I have noticed in my years of observing this forum, most MH owners are very possessive of their units. Some say no one drives their unit but themselves. I have even read some that say no one can use their bathrooms except owners. These are the same ones that talk about the "me" generation. They are very representative of that generation.

So, if one choses to not allow another person to use or drive their motorhome, they are in the same catagory as the people who run generators, play loud music and party all night while not caring about disturbing other campers?

Very interesting theory. :)