boat share

[themount2]

Has anyone got any experience of a "Boat Running Cost Share" arrangement as opposed to ownership share i.e. share cost - share use?
Are there any precedent agreements on the web (or anywhere else) that you know of?

Thanks
themount2

 

[Guest]

try the rya legal department if you are a member

 

[MedMan]

I did it for several years as a means of 'affording' my first boat. I bought the boat, advertised in YM and found a chap who paid me the equivalent of my marina fee, insurance and winter layup in exchange for two weeks in the summer, one week at Easter and every other weekend. The boat was mine and I did or paid for all routine maintenance. He was responsible for any damage he caused but, apart from a dismasting (bad luck for him he was on board) which was an Insurance job, there was none.

IHMO it is a far better system than shared ownership as the relationship between the twp parties is unambiguous. We didn't have any formal document - just an exchange of letters, but I am sure the RYA could come up with one.