Shared boat ownership

[captbones]

Does anyone have experience with shared boat ownership? I know someone who owns 1/4th of a Catalina 320 in the Chesapeake Bay and seems to like the arrangement. This seems to me like a reasonable alternative to time-sharing a boat or buying a boat and putting it into charter service but I have no idea where to look for such oppertunities or how they typically operate.

Captain Bones

[Bardo]

I own a boat with someone. My experience has been great, because he and I are great friends, and value the friendship over the boat. I can't see it working well in most other circumstances, especially if you have a project boat, or even an older boat in need of alot of work. In my case, my boat partner lives in DC, and I live in Southern Maryland three miles from the boat. hence, although we are 50/50, I do most of the day to day work. It just so happens I like it that way. On the other hand, I do most of the sailing too. He comes as often as he can. Problems may arise when, as in our case, one is ready to sell (move up in my case) and the other is not. Hope this is helpful! BTW, we have no written agreement at all. Just co-ownership on the title. Not a good idea in most cases, I'd say....

[T34C]

There is a older, circa 1960's, cruising boat in our harbor that is owned by 5 families. I don't know all the particulars, but it seems to work out really well. (It hasn't always been the same 5) They alternate weekends and have a schedule for summer cruises and who gets the boat when. The big bonus is that they also split the maintainance, slip, and haulout costs 5 ways. Hence, it is a beautifully maintained old boat.

[Bardo]

I guess the alternative to a great friend as a partner is someone youi don't know at all and have a real contract with. that might work out fine if you can schedule its use to your satisfaction and agree on level of care and upgrades, etc.