No..
What NightRyder is saying is that if you merge all of your accounts under a UVIP upgrade, all of your accounts that have been merged will have UVIP status and you can get all the perks that VIP provides.
However..you cannot "share" items from one account to the next. For example.. if you have a blue dress on Profile A but you're logged into Profile B, you can NOT access the blue dress unless you log out of Profile B and log back into Profile A. You can not share items from one profile to another. If you want to wear the same blue dress in Profile B, you'll just hafta buy it again. Same for properties.
Damn you, Addamant, for turning me into a forum whore! *shakes fist*
_Monk_: What does BB stand for?
_Monk_: Ball busting? hehehehe