Anyone who has shared, or thought of sharing, a boat has had to face the question of how much to charge partners. In a shared ownership or syndicate scenario the question gets a little easier, i.e., split all costs according to percentage of ownership for each owner. When you want maintain ownership but share your […]
Having a Syndicate/Partnership or Bareboat Sharing Agreement in place with your partners is essential to a successful partnership. A Boat sharing contract, like any good contract, creates a context for a smooth and mutually beneficial relationship between the parties. It clearly defines the party’s responsibilities and expectations, outlines what happens if something goes wrong (i.e., […]
Since we get so many questions about what kind of legal entity a person should use when setting up a boat sharing partnership, I wanted to take a moment to provide a brief outline of the some of the common choices using a scenario that was submitted to our forum this week, i.e., someone owns […]
