One of the primary questions we get at Nautical Monkey is about boat sharing contracts and syndicate agreements. Specifically what are the primary questions we should be asking, where we can find sample agreements, and what kind of partnership should we create. We will be publishing a set of articles about boat sharing contracts in […]
It’s hard to believe that’s it’s been almost a month since the last Nautical Monkey blog. Time flies when you’re having … well … a break from writing blogs. And talking of time, we know it’s precious and the lack of it might mean that some of you haven’t had a chance to get out on […]
Ready to start sharing a boat this season? Would you believe that 2014 is almost three twelfths over already! Whatever your boat sharing plans and aims are for this year, you best get on with them. Time flies after all! Sure it’s still 30 degrees outside, but there’s no time like the present to get […]
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., […]
Winter has come for us in the Northern Hemisphere and many of us may have put our boats and our boat sharing partners in the background as we prepare for winter holidays and activities. Like any long term relationship however, a boat sharing partnership needs to be nurtured and fed during the off season. Even […]
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 […]
We have seen a myriad of different partnership arraignments work. Family partnerships, business partners or friends who purchase a boat together, relative strangers who become a member on a boat and remain for years – there really doesn’t seem to be a single defining characteristic that insures success in a boat sharing relationship. There are, […]
First, for clarification’s sake, an LLC (Limited Liability Company) is a type of corporation. However, for ease of discussion I’ll use the term “corporation” to refer to a Subchapter S Corporation (we will leave C Corporations out of this discussion as impractical for putting a boat into). In the world of boat sharing, there is […]
