So this clarifies something confusing... what IS the partnership?
What does owning 10% of the boat entitle them to? what responsibilities would they have? I have not thought this through. I am open to ideas and especially from someone who wants to do the deal and pay over time.
This is really the question, or more practically, is there anyone out there willing to do a deal like this?
Like everyone else here, I hope you find someone that fits the bill. Most of the negative comments seem to originate in the fact that the commentators would never want something like this. I include myself in that group, btw. It doesn’t mean an acceptable candidate doesn’t exist, just that he’s probably not on Sailnet!
But your question about how to gradually transfer ownership might be solved by bifurcating the issues: you have the “what should Captain Beta be allowed to do with the boat?” question, and “how much equity does Beta own”?
Can you define a series of tasks that you would like to have Beta successfully execute before he moves on to the next level? He shows he can undock, dock, moor and unmoor unsupervised; he then gets to go on day sails or overnights without you. He can reef in 25 knots of wind; he can go 100 miles from the home port, etc.
All of this is separate from how much he owns. You set a price and payment schedule, with the ability to speed up the process. Of course, if you decide you need or want to sell before his last payment is due, he has right of first refusal. And if you do sell before he can or wants to become the owner, he is paid back his equity from the sale proceeds.
The amount of equity could be used as a marker for how much he gets to use the boat. First season, he gets x number of days that he can use for the activities he’s qualified for. including unlimited sails with Captain Alpha (that’s you). Next season, his equity is greater, so his number of solo days increases. Presumably, his competence also grows, so he can do more with the boat without you aboard. You would probably also want to address how to handle any potential upgrades during the transition period, as well as responsibility for repairs. Level of maintenance would also be important. Who gets to decide if you need new running rigging or a bottom job? Or even if the last person left the icebox clean enough?
I know that a big part of this for you is having someone to sail with to ease your burden, but frankly, I don’t see how you could make that mandatory. You can make it so that you and Beta sail together so he can prove his competence, but other than that, it would have to be voluntary on his part. Unlike some here, I could see how that would be attractive. Not a lot of my friends know how to sail, so having a partner to do some cruising with sounds good to me. However, it wouldn’t be a very steady gig; maybe once a season? And while I also get the whole mentoring thing, I don’t think that’s a long term option either. Is there really that much to teach about Shiva? I would think that after a season of mentoring and Shiva-
U, Beta is going to know everything he is able to learn about the boat. Of course, you still have much to impart in the ways of seamanship, but again, you can’t force your company on the Beta’s.
In short, unless you find a true partner, I think the best you are looking at is one more season with Shiva. After that, you will be an owner waiting for an invitation to sail from the other owner.