|Topic Review (Newest First)|
|05-16-2011 05:06 PM|
Boat Partnership Agreement
Did you get a copy of the partnerhsip agreement?
If "yes" would you be so kind and email me also at luciaromanov (at gmail.com).
THANK YOU VERY MUCH for your time and efforts!
I appreciate it!
Originally Posted by klcmass View Post
|05-16-2011 05:02 PM|
Boat Partnership Agreement
Will you be so kind and email me also a copy of the partnership agreement? I hope it all worked well for you!
THANK YOU very much for your time and efforts! I appreciate it a lot!
Originally Posted by amthesailor View Post
|04-23-2011 12:43 PM|
|bviKetch||Thanks for the info. I just purchased a used copy for $5.86 including shipping.|
|04-23-2011 10:40 AM|
Originally Posted by Litehart View Post
Amazon.com: Yachtsman's Legal Guide to Co-Ownership (9780828600873): Paula Odin, Dexter Odin: Books
|04-23-2011 09:30 AM|
You can find a UK version of the agreement as well as good advice in the yours2share fractional ownership, boat share, horse share, car club, landshare site. They use a Royal Yacht Association drafted agreement to start with. The point about not having any lien on the boat is very important because it avoids surprises to the remaining partner(s).
|04-23-2011 09:12 AM|
Taught sailing at USC and shared my 8 boats with 200 students.
Key was if you broke it you fixed it within 48 hrs or I arranged for repain and the student paid for it.
I expeced the other to do nothing and the students normally met my expectations so I provied a service at 1/3 the commercial rate and was happy.
students were vere very honest and greatful. I promised a little and they took a lot and all was well. Capt Bob
|04-23-2011 07:21 AM|
Excellent Yacht Partnership Book
Back in 1981 Dexter and Paula Odin wrote a short book entitled Yachtsman's Legal Guide To Co-Ownership. Odin is a practicing attorney in the Maryland area (at least he was practicing when I hunted him down about two years ago). The book is well written with a thorough explanation of the many clauses within the co-ownership agreement. While the book is now over 25 years old (and lacks some more recent legal structures such as an LLC), it is nevertheless a great source for structuring a group ownership with a focus on boating. The ISBN is 0-8286-0087-0 and possibly could be found by doing a Google search. The slant of the book is one of "comradship" but guided by a well-structured legal document.
Here is an example of the document with paragraph 1 under PURPOSE: "With implicit trust in each other, a common appreciation of the sea, and a desire to unite in the ownership of a pleasure yacht, we enter into this Agreement to provide a better understanding of our mutual expectations and a greater awareness of our fiducial obligations to one another."
|04-23-2011 07:10 AM|
Originally Posted by oceanconcepts View Post
Unfortunately, most just can't pull it off. People also change their opinions of others over time. One couple gets divorced (on average that's more likely to happen than not) and suddenly you can't get along. Financial circumstances can change outside one partner's control as well.
Best to be positive but prepared.
|04-23-2011 12:48 AM|
I'm half of a casual, very informal partnership with our neighbors that has gone on successfully for ten years. It's a little different from what most are referring to, though. Our motivation was mainly in that being two very busy families with professions, businesses, and kids, we had limited time for using a boat- but we live almost on the water. A partnership was a way to have a boat available, without feeling that it would own us. Our boat is an older 33' Scandinavian racing design and is used mostly as a day-sailer. It doesn't represent a very large financial commitment for either of us, so the pressure is minimal. We refer to it as our "neighborhood boat", and it gets used as well now by our somewhat grown kids. We frequently sail together, my partner owns the slip (a financial commitment), I do probably more maintenance and repairs.
A relaxed attitude helps, and as someone said, valuing the partnership more than the boat. Our motivation wasn't financial, but specifically that sharing the boat increased its value for us.
|04-22-2011 04:19 PM|
Copy of agreement
At the risk of overloading the request for a copy of the co-ownership agreement mentioned within this thread, could a copy be sent to me? If so, thank you in advance.
Treasure Island FL
Boatless except for a Grady White 209
jkwright60 @ g maildotcom
P.S. We live on the water just South of Clearwater FL. Should you find yourself passing by and need a slip to use as you pass by (with 30amp, filtered water, and safe harbor), get in touch. We have found it a great way to meet new friends.
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