SailNet Community - View Single Post - Alternatives to buying your own boat
View Single Post
post #12 of Old 02-02-2013
Minnewaska
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 11,259
Thanks: 46
Thanked 241 Times in 225 Posts
Rep Power: 7
   
Re: Alternatives to buying your own boat

We spend a lot of time cruising for long weekends with our closest friends and family. It only takes a couple of days in a 500 sf home to really figure out what drives you nuts in someone! It works, because it has a clear end date and then we look forward to having them back.

While you are looking for cruising partners, you are still looking for a partnership of sorts. Its unclear whether both couples would own the boat in your query. Regardless, a partnership is always the first ship to sink. The most important agreement to iron out, is how to end the partnership. How does each couple get out? Can one require the other to buy them out? Can you just leave?

Whether each partner has the ability to take advantage of an exit is even more important. Just agreeing that one must buy the other out at a pre-determined price is useless if either party doesn't have the money to do so. It becomes like dealing with a cornered animal, if one wants out, but can't do it.

They can work, but be sure to have a rock solid pre-nup.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Minnewaska is offline  
Quote Share with Facebook
 
 
For the best viewing experience please update your browser to Google Chrome