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Choose a broker. If you buy a new or used boat and don`t sell a stake in a boat you already have, do you want to hire a broker to find the boat of your dreams? If so, who? If the co-owners have determined which boat they want but have not yet chosen the particular boat, then it might be advisable to use a broker who is with this boat cord. I`ve been in two partnerships and I like it for the very reason Loco mentions – we can all sail a bigger and better boat than we could afford to do on our own. The current partnership is me 50%, two more 25% each – go character (it`s a trimaran, so there`s logic there). We always end this section by proposing that readers speak to an experienced lawyer on the law of the sea about their particular problem, and that this consultation applies in particular in the case of a boat partnership. A « vanilla » or « Boilerplate » agreement can create more problems than it solves, and in this section we are not able to tackle all the problems faced by a boat partnership. Co-ownership is not everyone`s business, but it is a great way to afford a more beautiful boat, as well as the operating costs of owning a boat. As soon as you familiarize yourself with the idea of sharing a boat, you`re well on your way to enjoying several years of boat fun with less expense and less housework. And the best part is that the boat is happier and it works better over the years when it is often trained. For commercial purposes.

Do you want to use the boat for commercial purposes such as chartering, renting, leasing or as a hotel, motel or bed & breakfast? Or is the boat only intended for private use by the co-owners? Be sure to take this into account in the agreement, as commercial situations mean that the boat is used much more often and by inexperienced boaters who could damage the property. Your insurance policy may limit this type of activity. Updates/replacements/new items. How do you handle updates, replacements or the purchase of a new item at high cost on the boat? Suppose one of you wants to add, replace or repair one item and another not? It is also a give-and-take situation and another good reason to participate together in a large boat fair before buying a trawler. Look at each gizmo before forming the condominium to make sure you are compatible. If one of you really wants an item and the other doesn`t, can the partner buy it and have it installed at your own expense? Does anyone have anything to say when it comes to eventually entering into a partnership? If you and your co-owner are still shopping, there are many factors to consider, such as for example. B the manufacture, size, price, functions, size and number of the engine, as well as all the things you attract to a particular boat. You`ll probably never find the boat and the exact features with which you can both be 100 percent satisfied, so you might have to give a little and take…