You need to consult an atty. Your partner's ownership
will be transferred with the estate, and/or through probate if they don't have a will. A solid partnership
agreement should handle most contingencies including death, or gawd forbid... you two split the sheets
If the boat is valuable enough, you might also look into key-man insurance
. Should your partner pass away, the life insurance
policy would provide a settlement to use to buy your partner's share of the boat.
Don't assume death is the only thing that can go wrong. Partnerships go south everyday even without the romantic twist. You need to have everything layed out by an atty now while cooler heads prevail.
Think of the most twisted, screwed up development and it would not be out of the realm of possibility. Let's say you two break up when she runs off with someone that you absolutely can't stand. She passes away and her ownership
is passed to the new guy who stole her. Holy Jeezo-Pete, HE IS NOW YOUR NEW PARTNER!!!
Please consult an attorney.
As for living in sin, I hope it turns out as well as my relationship has. We started living together when I was 19 she was 18. Married at 24 and 25. We've been together 29 unbelievable years now.