Evict Partner from Yacht

[fstik]

Sell your share of the boat/LLC to a third party and go buy your own boat.

[danstanford]

Much like the disposition of a business, the partners can have wildly different ideas of the value. One strategy is to establish a shotgun where one of you makes an offer to buy the other out and the other can either accept the offer or turn it around and buy the other's share for that value. Personally, I prefer the process where the yacht would be listed for sale and the high bid gets it where each of you can bid as well.
Difficult times for sure.

[Montanan]

Well one could split the boat, e.g., if it is a catamaran, designate one hull to each partner and split the salon as common space; albeit a monohull that may be harder, fore and aft perhaps.

I think unwinding the ownership is likely the preferred solution given the imposition of an unanticipated liveaboard situation.

One could wait for the liveaboard to leave the boat to say go to work or go grocery shopping and then take the boat out for an extended voyage leaving the liveaboard without a residence for that duration. Kind of forces the partner to seek alternative lodging and of course their belongs, [clothes, computers, etc.] would become inaccessible if the boat has departed.

Simple solution: The rules of marina quite likely limit or prohibit liveaboard status and they can become the enforcer to alter the residency status.

[Ken of KC]

To me this seems like a problem not created by a partnership but a poorly thought out and assembled partnership. There was no meeting of the minds to define what each was considering to accomplish.



Personally I like danstanford's recommendation but this may fair no better as he can always argue the offers that come in and if I were a buyer I would get one look as your mess and not want to become apart of it.


Becoming a bigger ass than he is won't solve the problem either.


I think I would have a discussion with him and tell him how I felt about it and why. He could either accommodate your request and maybe you both work on a usage agreement that suits you both or you may well need an attorney either way this will not resolve overnight and how will the boat be cared for in the mean time.


This whole thing was poorly conceived and contracted and this is why boat partnerships fail and get a bad rap.

[CyKlop]

Originally Posted by Renegde_Sailor

You need to retain a lawyer to handle this. Either your partner needs to buy you out or you need to buy him out.

This is the proper answer. All the rest of it is simply revenge and, in my not-legal, opinion likely to not look well upon you in a court of law.

[David Mathis]

Advice for this situation is best obtained from an attorney licensed to practice law in the area where the boat is kept. This forum provides opinion, sometimes from those quite knowledgeable, but legal, medical, accounting, tax, and other professional level information is best purchased from a license source. You get free advice here but you might be getting what you paid for.

[Buster007]

Originally Posted by psk125

A lot depends on who the partners are. We bought a boat with another couple and enjoyed it for 24 years together, racing and cruising from NYC to Northeast Harbor. Then we sold it and bought our current boat with them too. It's great when it works.

That was with your own family member

hardly the same thing.

i guess it could be even worse

the lesson here is a bad or non existent operating agreement

a bit mind boggling that usage wasnt in it.

makes one wonder what was in it.

[Alchemist 66]

Originally Posted by Tin Tin

You could pay the attorney's more than the boat is worth. especially if emotions are running your negotiations. I assume you each have 50% shares in the LLC and equal voting rights etc etc. The LLC documentation may have a winding or dispute clause - read that first. This will also likely lead to how is dockage, R&M, insurance is being paid - it can get ugly just like a divorce.

Not to add to your concerns, but depending on which state the boat is currently docked, he may have squatter rights. That can drag out an eviction for months. And if he declares bankruptcy, that could drag it out even further.

[Mickeyrouse]

Beware of legal advice in a forum like this. Every suggestion or experience may be valid- for where the poster lives. The governing law on abuse of partnership interests will likely be different- a little ?, a lot? - wherever the partnership was formed, possibly further complicated by the present location of the boat, the conditions, etc, etc. The only meaningful reliable advice will come from an attorney practicing in the applicable jurisdiction, state, province, country, whatever.

[RaymondR]

Originally Posted by Micandi

I have a 50% share in a motor yacht. My partner insists on living aboard the vessel and I want him off so that I can use it as I wish during my 50% of the time. We own the yacht through and LLC and the operating agreement does not address this issue. What are my remedies to get him off the yacht?

Negotiate another LLC with him or her for an apartment and swap about??

[psk125]

Originally Posted by Buster007

That was with your own family member

hardly the same thing.

i guess it could be even worse

the lesson here is a bad or non existent operating agreement

a bit mind boggling that usage wasnt in it.

makes one wonder what was in it.

Just to clarify, "another couple" is not a family member. My wife & I are one couple, and our partners in the boats, husband and wife, are another couple who are not relatives of ours. Picking the right boat partners makes a big difference.

[Jammer]

Mod hat on

This thread has been closed due to multiple replies that are:
1) Attempts at humor
2) In violation of site policy
3) Not actually funny.