Joint Ownership of Sailboats for the Unmarried

[Minnewaska]

Originally Posted by tomperanteau

......It may cost you between $300 and $500.......

Originally Posted by tomperanteau

......Good attorneys, which may be hard to find where you are, do not feast on anything with the exception of what they swore an oath to. If you can find a good one, they should help you, at a reasonable rate, to solve your problems.....

Tom, I'm not into attorney bashing, although it is fun. I'm not suggesting that all attorneys are crooks, but they do have student loans to repay.

This was my point above. That kind of money is only considered reasonable within the context of a law firm making a living on the law. Otherwise, its a pretty good meal compared to the better advice..... "don't do it and save your money".

We both know that no matter what you write, it won't disallow an action to refute it later, it would only serve as the basis for your success after spending thousands to defend it.

My advice remains pro bono.

[tomperanteau]

Originally Posted by Chris12345

This thread is turning into an infomercial for legal services, is it?
Tsk, tsk, in many countries attorneys are not allowed to advertise at all, you might be breaking law here...

But think for a second about the pro bono idea: A couple who buys a sailboat substantial enough to seriously worry about sharing the asset would hardly qualify as needy, would they?

Maybe you can tell me where I advertised anything regarding a law office or services. As someone who manages a law office, I am well-aware of the laws, but thank you for your legal advice on this.

Are you an attorney? If not, then perhaps you might not want to advise me on what is legal and what is not. That might indeed be illegal.

Now, if you are legally advising the OP, then you are breaking the law.

Be sure you know of what you speak, lest you could get yourself into trouble.

[tomperanteau]

Minnewaska:

Let's see... You buy a boat with someone and then there is a break up. If you spent $20k on the boat and had no air tight agreement, you could be out many thousands if they take you to court and make claims, false or otherwise. That compared to a few hundred to draw up a simple contract? Cheap insurance, really.

[tomperanteau]

Again, you folks need to be careful about giving out legal advice. If someone takes it, then you could be liable and named in a suit. I know - we've done it. Telling someone they do not need an attorney is VERY close to giving them legal advice. Unless you have a law degree and are licensed to practice in the state they are in, it isn't wise to give advice like that.

You wouldn't think of telling someone they didn't need to go to the doctor if they might be sick, so why in the world would you, unless you were an attorney, tell someone they did not need an attorney to advise them on something that could cost them thousands of THEIR dollars, not yours.

Just to set things straight, I have no idea what state the OP is in. And after commenting on this thread, we would not be able to represent them anyway. Let's please not accuse anyone of trying to advertise legal services. There is no place in this thread that I have done such.

[Minnewaska]

Geesh Tom, most of the advise is to not engage in a transaction that requires a contract at all. Just say no!!

There is no legal advice being profered, just the opposite. Avoid the legal problem by not engaging in the issue.

[tomperanteau]

Well geesh, Minne, telling someone they don't need an attorney regarding an issue that clearly has legal implications is tantamount to giving [wrong] advice. As I stated, you would not advise on a medical matter, so it is not prudent to advise on a legal matter, which a contract between two people is.

We've seen far too many trusting people end up in court because they did not have a good contract when they entered into agreements with others. I'm speaking from experience. We're not talking about a small investment, and we're talking about people that will have some emotional attachment to the situation and a fair amount of money at risk. Mix all that together and you have a recipe for trouble unless you have a set of rules in place. To tell someone they don't need those legally binding rules is irresponsible. As irresponsible as giving any other advice that should be reserved for professionals with the experience to know.

[tomperanteau]

I actually consulted with one of the attorneys that has handled contract law here at my office (we were in a late meeting). She has handled business contracts as well as prenuptial agreements. She thought that it would be a very bad idea for anyone to enter into an agreement of this nature for the amount of money that may be spent on a sailboat without an agreement that would be legally binding.

I would hope that this young couple would consult with someone before they decide to lay their hard-earned cash down to jointly buy something this valuable.

[Minnewaska]

Goodness sakes, Tom. The advice we are giving is to NOT buy the boat together. No need for legal advice or a contract. What's the block?

[SHNOOL]

Stupid question... if you aren't committed enough to marry, what makes you think you are committed enough to buy a boat together? I'll crawl under my rock now.

[windward54]

Hey we bought a boat together, after we have been together for over 12 years. And we bought a house together about 6 years ago as well. The being married part wasn't important. We finally ended up making it legal when we tried to do estate planning.