Chain..........of thought.

[Rabbit]

Can you help?

I own 64/64ths of my boat.

Question,
Why is this?



I am wondering,
If the queen/state has any part title.

Would I be eligible to Commercially rated fuel price?

(Thinking red)

As an official vessel, off course.

All thoughts welcome.
Thanks.
Les.



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[LadyInBed]

Because you don’t share ownership of the boat with anyone else.
If you and three mates bought it between you all putting in equal shares you would own 16/64ths
If you put in half and two mates put in a quarter each, you would own 32/64ths and they would each own16/64ths


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[Vara]

? mate and four own boat?

<hr width=100% size=1>If it can't be fixed with a lump hammer dont fit it!

 

[LadyInBed]

Ah, that would be 12.8/64ths /forums/images/icons/wink.gif
And I didn’t say they would remain mates if that was your point /forums/images/icons/tongue.gif


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[snowleopard]

i presume you meant why are the shares divided into 64? the reason is tradition, probably because it was easy to divide in half repeatedly. that only applies to part 1 registry.

incidentally when a couple jointly own a boat it is better for them to jointly own all 64 shares rather than 32 each as in the latter case if one transfers his/her shares to the other party (death, divorce etc.) it is considered a transfer of ownership with possible implications in tax etc.

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