boat-share paperwork

[leggoe]

A friend wants to buy a 1/4 share in my boat. Does anyone have any info regarding what sort of 'partnership agreement' we need? Never done this before so I have no clue a to what's the minimum reasonable (legal) requirement.

Thanks EL

 

[Skyva_2]

You will need a Bill of Sale for 16/64ths of the boat, and it is sensible, though not a legal requirement, to have a partnership agreement. Though if you need to use the agreement things have probably gone too far! Note the issues may arise when either of you wants to dispose of your share.

The RYA have one, or if you PM me I can send a word document that we used and a BoS in pdf format.

 

[leggoe]

Skyva_2, Thanks for the response. Just sent PM.

Thanks E.