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Partnership in sailboat for Caribbean

2K views 2 replies 2 participants last post by  Ruudco 
#1 ·
My Pearson 36 was just demolished in hurricane Matthew and I am looking for a new partner to invest in a used Pearson (or other) sailboat to cruise the East Coast and the Caribbean depending on the season. The overall budget is probably $ 50 - 60 K, including the normal offshore equipment, dinghy, etc.....but excluding regular maintenance.

Anyone interested please contact me at 847-942-9400
 
#2 ·
With such long distance cruising in mind, are you looking for someone to go along or just a partner that would share use of the boat?

Either way, the number one thing to negotiate in any partnership agreement is exactly how either partner can get out of the partnership, without their partners consent. Bottom line is, they often don't work out. As long as everyone can go their merry way in an agreed upon fashion, all is good.

The conversation usually starts with the idea that one partner can force the other to buy them out, typically with define notice. However, the remaining partner typically doesn't have the resources to do so, or they wouldn't want a partner in the first place. So, if they don't come up with the money, is the boat mandatorily sold? That's messy, when one partner is attached to the boat (or cruising with it) and the other is not.

Partnerships are often the first ship to sink. A good agreement can limit the damage.
 
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