Surprisingly since retirement two years ago my wife and I sail less than when I was working mostly due to other travel. Since we live in the northeast the sailing season is short we have reached the economic point of to sail or not to sail. An option of selling is taking on a partner which we have discussed and actually have another couple who would consider sharing expenses. As I thought about it I realized there are many things to consider.
Here are my thoughts:
I would retain complete ownership of the boat, no buy in required. Payments would only be 50% of the "normal" maintenance: Boat in and out, winter storage, mooring fee and maintenance, etc.
I have not committed to this yet and would like some feed back on how to make this work. Specifically what type of agreement should be written? Does it require a lawyer? What else should be considered? Thanks.
Regards
BF
Here are my thoughts:
I would retain complete ownership of the boat, no buy in required. Payments would only be 50% of the "normal" maintenance: Boat in and out, winter storage, mooring fee and maintenance, etc.
I have not committed to this yet and would like some feed back on how to make this work. Specifically what type of agreement should be written? Does it require a lawyer? What else should be considered? Thanks.
Regards
BF