Boat Partnership Agreement

[sailstoo]

Three of us are considering buying a Cat in the Caribbean as equal partners. Does anyone have a copy or a template of a boat partnership agreement they'd be willing to share? if so, please send it to me @ sailstoo@hotmail.com. in advance, thank you.

[RabidRabbit]

Every time someone wants to drill a hole or buy something the others dont feel is needed a argument will break out. I watched a 3 way partnership form and even the pre trip fit out was a battle every day,no one had the authority to make any decision. Very strong chance that sooner or later, someone will be real unhappy. Money will most likely me the root of the problem. Go in a smaller boat thats yours. I don't recall this working out for for many.

[tommyh]

Boats are dictatorships,not partnerships.

[goboatingnow]

I was in one partnership, never again. You have to be really sure of your partners here. Youll get one guy who thinks it neednt be pristine, youll get others that want every screw replaced when it tarnishes. Often this doesnt reveal itself at the outset. ( or you have kids and they dont etc)

Thread carefully , if you have to pull the agreement every time , youll never get off the dock.

The only way Ive seen it work , is either all didnt really care about the boat , or all were wealthy enough to not care either. ( ie the "man "fixed everything)

[boatman61]

Here's one of the very few things GBN and I agree on....
Been in a couple of partnerships... to much grief...
Another thing... it'd need one more for it to be equal...
there's 64 shares in a boat... one would get the majority... WHO....?

[goboatingnow]

Originally Posted by boatman61

Here's one of the very few things GBN and I agree on....
Been in a couple of partnerships... to much grief...
Another thing... it'd need one more for it to be equal...
there's 64 shares in a boat... one would get the majority... WHO....?

64 is only a convention, you can have as many as needed

dave

[Tellie]

I can barely tolerate guests. A partner...two other partners? I agree with the above, think looooooong and hard.

[boatman61]

Originally Posted by goboatingnow

64 is only a convention, you can have as many as needed

dave

Spoilsport....

[goboatingnow]

Originally Posted by boatman61

Spoilsport....

Im in the middle of reprogramming my Li charge software to handle LIfe tests, Bored and too serious
and new crazy fonts

dave

[David_Old_Jersey]

I think OP was only after a Partnership Agreement........

Never done the boat Partnership Agreement thing - but Partners can be a PITA (usually a matter of when and not if!). But good agreements (that cover every eventuality (including how to deal with the unforeseen!), that spells out who is the day to day Manager and what authority they have (and don't!) and the cash going in and out is controlled and their is an exit for each - including a nuclear button!!) will help - but no substitute for folks not taking the piss. Of course if the boat in the Carribean and Partners elsewhere then likely that less scope for arguments, especially if a proffessional used everytime to clean up the boat and make ready before each visit and the use periods (and method of swapping) are pre-agreed. in writing.

Hopefully someone will be along shortly (I would look at a few agreements, not just the one because it is free).

[Cormorant]

You could send a message to CF member gts1544 and ask how they work their corporate ownership. Seems like it has been working pretty well for them:

http://www.cruisersforum.com/forums/...-6k-96115.html

[goboatingnow]

But good agreements (that cover every eventuality (including how to deal with the unforeseen!), that spells out who is the day to day Manager and what authority they have (and don't!) and the cash going in and out is controlled and their is an exit for each - including a nuclear button!!) will help - but no substitute for folks not taking the piss. Of course if the boat in the Carribean and Partners elsewhere then likely that less scope for arguments, especially if a proffessional used everytime to clean up the boat and make ready before each visit and the use periods (and method of swapping) are pre-agreed. in writing.

Seriously for a minute, thats exactly where it goes wrong. ( see the big bang theory and Sheldons room mate agreement). Attempts are made too define everything , it becomes complex and long winded, one of the partners probably gets frustrated at all the i and t dotting, ( not to mention if lawyers are involved).

Then you get the battle of the rule merchants versus the seat of the pants types.

Soon everyone is arguing and a good boat goes on sale cheap.

Buy a smaller one and own it yourself.

[boatman61]

Originally Posted by David_Old_Jersey

I think OP was only after a Partnership Agreement........

Never done the boat Partnership Agreement thing - but Partners can be a PITA (usually a matter of when and not if!). But good agreements (that cover every eventuality (including how to deal with the unforeseen!), that spells out who is the day to day Manager and what authority they have (and don't!) and the cash going in and out is controlled and their is an exit for each - including a nuclear button!!) will help - but no substitute for folks not taking the piss. Of course if the boat in the Carribean and Partners elsewhere then likely that less scope for arguments, especially if a proffessional used everytime to clean up the boat and make ready before each visit and the use periods (and method of swapping) are pre-agreed. in writing.

Hopefully someone will be along shortly (I would look at a few agreements, not just the one because it is free).

Shoot.... meant to upload this... closest thing I have is a sale form but it does have a partnership/company section in there.. if nothing else you could draw something up for the US using this as a base then each holds a co-signed copy...
May be useful...
Or not..

[David_Old_Jersey]

Originally Posted by goboatingnow

Seriously for a minute, thats exactly where it goes wrong. ( see the big bang theory and Sheldons room mate agreement). Attempts are made too define everything , it becomes complex and long winded, one of the partners probably gets frustrated at all the i and t dotting, ( not to mention if lawyers are involved).

Then you get the battle of the rule merchants versus the seat of the pants types.

Soon everyone is arguing and a good boat goes on sale cheap.

Buy a smaller one and own it yourself.

I am sure Sheldon's room mate agreement is on the internet somewhere .

I defer to you and the others on the boat partnership experiance (me not done and no plans), but nonetheless I stand by my basic position that a good partnership agreement is worth the intial effort.

By every eventuality I am not saying include specifially what happens in every scenario (apart from scheduled events - i.e. antifouled once a year, engine serviced etc) but Agreement has to cover who gets to decide and how (and where the money comes from!) for the unplanned, if not unexpected, things - easy one is a ripped sail (as clearly needs fixing), less easy is a sail that will need some attention at some point, who decides when and how much - and actually organises it!)......gotta recognise the difference between Management and Ownership, and that the former is needed by the latter - whether both are the same person or not!.......folks spending money like there is no tommorow as much as a PITA as those who won't let go of a dime. and lethal if a blank cheque involved! - many people not so good at thinking ahead when it involves money.

Having 2, 3 or 4 (plus!) people all (genuinely!) knowing "best" is a recipe for disaster - especially when they all have "rights" (real and imagined). A Partnership will be a success if no one needs to quote the Agreement! and only refer to it as a memory jogger (WTF are we meant to be doing!).


Lets call this post a free bump for OP .

[Teknav]

It is not possible to have THREE Captain Bligh's running the Bounty, at the same time! Stay clear from partnerships! ...and, that's an ORDER! Mauritz