Buying a Slip

[Jeff Bacon]

Hi All:Once or twice a month I run across, or get an email about buying my own slip. Usually it's "somewhere in paradise, and a good way to to beat the escalating cost of boating".Snake oil aside, I have started to think more seriously about the concept. I suppose there are many different types of "ownership", and, some may not be ownership at all, rather long term leases.Do you actually own the land at the bottom of the water, do you own "space" like a condominium, are they really leases, and so on. More importantly, will they stand up to a challenge.... typically, no one comes along and says " Hey fellow, I want to use the space where your house is (I know, it CAN happen), or, if the tide goes out really, really far, can someone that owns adjacent land claim the dry part is now theirs as well?Any one out there with experience or thoughts on this topic ?Thanks.... Jeff

 

[Waffle]

No, you own the slip

It like those developments where you buy the house but not the land. You own the right to keep the boat in the slip and you have to pay a maintenance fee very year for services. It is like a condo.

 

[Eric Jones]

Depends on the State

You own the slip but not the property in Maryland. The state retains ownership of all property under tidal waters, but does grant riparian rights to slip owners, with title, deed and all. Something to look into, with the way condos are eating up marinas on both coasts. Fewer publicly available slips every year.