What would be easier, Help ?

I want to get the new iphone 4 but am confused with what will be easier.  I have a family share plan with my mother and want her to sign the assumption of liability so I can take over my line (I'm the secondary user) At first when we tried to do this months ago (before I knew I had to pay a $400 dollar security deposit) I was under the assumption when you did this it started a new contract which meant new phone, is this untrue ? Also if that's the case what then would be easier for getting the iphone...Switching lines and just paying retail, or early termination and creating new like with iphone for $199.
Sorry if that was confusing but I'm just trying to weigh my options, either way I'm leaving my mothers plan.

If you change your Account Owner, your upgrade date will remain the same.  Also, if you were to terminate your account, you would have to wait 60 days before starting a new account.

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