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Go Back   SailNet Community > Out There > herSailNet > Joint Ownership of Sailboats for the Unmarried
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Thread: Joint Ownership of Sailboats for the Unmarried Reply to Thread
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Topic Review (Newest First)
10-04-2011 02:55 PM
xymotic see this story for a 'worst case' scenario Pacific Northwest Boating News: After rescue at sea, wife left to pick up the pieces of a broken dream | Three Sheets Northwest
10-04-2011 02:04 PM
GMC The dialog here is curious as the original poster specifically asked for advice on the law. One of the posters, who is a sailor and works at a law office and apparently is a participant in a shared ownership agreement is attacked for practicing law or advertising on this blog. He was just trying to help. To exclude opinions on the law from this blog would be like excluding opinions on engine repair or sail trim. For better or worse, the law is part of sailing. Anyway, my two cents for the original poster is that at the least she and her mate hold title jointly in the boat. If they want to keep better track of the pennies and sweat and the implications of a break up, they can do an agreement - with the understanding that agreements get broken and challenged and don't always guarantee a smooth division. Good luck to the couple involved. Have fun.
10-03-2011 11:03 PM
xymotic
Quote:
Originally Posted by Bussy View Post
In Canada when you federally register a boat you get to name the owner(s) and how many of the 64 shares each owns. The split can be anything. Is there no such thing in the US?
No, you'd have to draw up a partnership agreement and then that contract would be the point of contention in any court litigation.
10-03-2011 10:57 PM
Bussy In Canada when you federally register a boat you get to name the owner(s) and how many of the 64 shares each owns. The split can be anything. Is there no such thing in the US?
09-29-2011 08:02 PM
Squidd Sorry, but I agree with Minnewaska !!
09-02-2011 03:51 AM
xymotic I just went through this, the ex GF bought the boat.

We broke-up and it was civil.

but...


Somehow all the money and time I spent on upgrades or slip and boat payments amounts to exactly nada.

OTOH, she spent a lot of time and energy on my house as well, and I kept that so I guess it all worked out.

Not to mention the fact that I was actually kinda emotionally attached to the boat.

It's definitely better to define very clearly up front who-pays for what.
08-31-2011 01:30 PM
wingNwing This could almost be a litmus test for a relationship, no? Don't get involved with someone who has the kind of mean streak that makes you think s/he would make a breakup ugly instead of civil. Assuming that test has been passed, it seems straightforward to title it in both names and set up a contract, tracking how much money each of you has put into the initial purchase, and the ongoing maintenance, and if necessary to sell, divide the assets in proportion to how much money was put in. Also design a way to account for the value of work you do yourself - how much would it cost to pay someone to scrape the varnish?
08-31-2011 01:13 PM
KnottyGurl check your state laws on commanlaw, you may not have a paper that says your married but if you are considered commanlaw then it's mute as the law already sees you as married. and division of assests are done like a grumpy married couple getting divorced.

The fact that you question it already states you are worried, so donot put your cash in at all, have hime cover thhe costs as it will be is boat. Buy your own groceries when you over night and your good to go
08-31-2011 11:35 AM
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.
08-31-2011 08:17 AM
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.
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