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Old 02-03-2024, 21:18   #1
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Angry Evict Partner from Yacht

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?
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Old 02-03-2024, 21:25   #2
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Re: Evict Partner from Yacht

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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?
Enlighten that he is using it 100% of the time and as such he is preventing you from using it as you wish to the agreed limits and so you require him to buy you out, to at least 150% of your shares value. Be prepared to use legal recourse if needed.
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Old 02-03-2024, 23:29   #3
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Re: Evict Partner from Yacht

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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?
Wait til' he is not there and take it somewhere else for 6 months.
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Old 02-03-2024, 23:56   #4
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Re: Evict Partner from Yacht

You need to retain a lawyer to handle this. Either your partner needs to buy you out or you need to buy him out.
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Old 03-03-2024, 12:51   #5
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Re: Evict Partner from Yacht

Beware ! The first ship to sink is the “partnership “
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Old 03-03-2024, 14:08   #6
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Re: Evict Partner from Yacht

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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?
Your agreement doesn't state a "percentage of use" for each of you? That would be strange.
If there is no "use schedule" involved as you imply, I agree with: "Wait til' he is not there and take it somewhere else for 6 months." a little taste of his own medicine.
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Old 03-03-2024, 15:03   #7
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Re: Evict Partner from Yacht

Simple answer is that you need to buy his shares - you do say the boat is not yours and not his but the property of an LLC - or he needs to buy all yours. He's not likely to want to buy all yours at any price acceptable to you, and he is not likely to want to sell all his to you at any price acceptable to you.

Does your LLC have a clause the sez what's to happen in such a case? Of course not! So off to the attorneys you go!

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Old 03-03-2024, 15:13   #8
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Re: Evict Partner from Yacht

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.
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Old 03-03-2024, 16:26   #9
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Re: Evict Partner from Yacht

Where is the boat? Is it in a marina in the US and he is living aboard legally, (which usually involves added monthly fees) or is he a sneakaboard and violating your dock lease contract subjecting the boat to immediate eviction?
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Old 04-03-2024, 05:14   #10
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Re: Evict Partner from Yacht

Every so often we get a post asking if a partnership or fractional boat ownership is a good idea. In future, we can just point them to this thread.
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Old 08-03-2024, 06:35   #11
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Re: Evict Partner from Yacht

I had much the same problem and the answer was to sell the yacht, divide the money and buy my own boat. We are still friends.
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Old 08-03-2024, 06:53   #12
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Re: Evict Partner from Yacht

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Every so often we get a post asking if a partnership or fractional boat ownership is a good idea. In future, we can just point them to this thread.
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.
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Old 08-03-2024, 06:58   #13
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Re: Evict Partner from Yacht

When an LLC's operating agreement does not provide for specific governance issues then the laws of the State with which the LLC / partnerSHIP is formed will operate. Now not sure about the laws regarding regulation of members' personal use of an LLC's asset.

Typically when there is shared ownerSHIP of a property, [e.g., a cabin] the partners develop a rotating schedule of its use, and simultaneous use is not provided for, except under mutual consent of the partner that is scheduled to have use of the asset. Permanently living with the asset is not typically accommodated in a partnership arrangement, and that should have been an explicit covenant.

The typical issue of an LLC is that there is to be an investment business activity / purpose and not just pleasure.

Partnerships often have a falling out and there should be a falling out clause to discontinue the partnership. If it is not in your operating agreement then read the laws of the State that apply, download such.

There should also be definitive maintenance and care responsibilities of the shared ownership scheme.
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Old 08-03-2024, 07:14   #14
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Re: Evict Partner from Yacht

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I had much the same problem and the answer was to sell the yacht, divide the money and buy my own boat. We are still friends.
You can’t still be friends with someone who was never your friend…. A friend wouldn’t enter in to a boat share agreement then move on board the boat full time.
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Old 08-03-2024, 07:20   #15
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Re: Evict Partner from Yacht

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Originally Posted by Micandi View Post
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?
Welcome to Cruisers Forum. You may find that you get higher quality replies if you fill out the details in your profile, such as your location and some of the details about your boat.

Disagreements like these on usage share are not uncommon in partnerships, whether for boats, aircraft, cabins, etc. If it is not possible to resolve the impasse through negotiation or perhaps mediation, the only real alternative you have is to dissolve the partnership. Whether, when, and how to do this varies depending on how the LLC was initially set up. Once you're ready for that step, I would recommend contacting an attorney.

It is unlikely that the courts etc. will step in and adjudicate the details of 50%/50% usage.
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