Join Date: Apr 2003
Location: Solomons Island
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Partnering on a boat in MD? thoughts?
Whenever I think of partnering on anything I think of my professor for accounting and his statement about chosing a partner. He said that if you are going to partner make sure you know everything about the other person. Remember that if their financial situation is bad you may wind up with a lien against their share of the boat and forced to sell it. You may end up arguing about who gets the boat, what you may use the boat for, when you may use it, and so forth. Take a long hard look at this idea prior to getting involved.
I would rather have less boat but sole ownership.