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Fractional ownership of a spendy asset which is used part time makes sense in many ways. On the other hand there are complications and trade offs which attend. Some things are easier to work out/resolve than others.

Not in order of importance some considerations with respect to a recreational boat are:

1. What boat will be shared? And who decides? Does one person sponsor the partnership, select the boat and sign up partners? How is the value determined? How can the boat be secured without a purchase contract which would require the partners contribution.

2. Are all time periods of equal value? How are these assigned?

3. Where is the boat kept?

4. Who does and how is the ongoing maintenance done? Is this contracted to a professional? Who decides on upgrades? Or even when a repair is required?

5. How are partnership decisions made? Simple majority vote? Super majority? How are the partnership rules determined? Who and how will they be memorialized in a partnership agreement? Are the meetings virtual? or will the partners have regular meetings (at the boat) ??? Who manages the funds and the legal affairs of the partnership?

6. How does one exit the partnership? How is the current value determined? Can partners veto a sale?

7. What qualifications do the owners need to have?


Term chartering is a form of fractional ownership/use made available to the general public. The OP presents a different model where a group of select partners share a boat for their exclusive use. While the benefits presented are appealing... it also could be like herding cats. What about the notion that people who OWN like to personalize and a boat is / can be like a home... A charter boat is more or less like a hotel room... or perhaps a time share. If the deal is simply about sailing then the personalize issue may not be present. But I suppose that too may depend on how much $$ each person contributes. The more partners there are seems to mean more complications. Will this be enough time for each partner? Is limited use to a specific time period acceptable to all the partners?

Food for thought.
 
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