Wizz
Member
I guess inherited is the wrong term. Executor of estate (my post is to work out options for brother in law - who's completely at a loss and in a bit of a flap)
Help & advice: Inherited a 30ft yacht
- Thread starter Wizz
- Start date
I guess inherited is the wrong term. Executor of estate (my post is to work out options for brother in law - who's completely at a loss and in a bit of a flap)
Giant
New Member
Are there other assets of value in the estate? If there's a house, money etc that people are keen to inherit, then that's a bit of a different situation from if the chap died with nothing but a run down boat he was living on.
Daydream believer
Well-Known Member
Remove all evidence of ownership. Remove sail numbers, SSR No. radio etc. Keep any bits worth flogging at a boat jumble back home.Tell no one. Certainly do not start advertising it as you could be traced. Move it round the corner to a quite anchorage. Chuck the hook over the side & walk away.
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Wizz
Member
Nothing of any value.
Wizz
Member
Am sure that's what's happened to some of the hulls in the nearby creeks. Marina manager was keen to get her out of the water - so she's on the hard. Perhaps keenness was to prevent just that.
Giant
New Member
In that case, consider what you're trying to achieve. If you don't want the boat yourselves and decide that it's more trouble than it's worth to try to sell it, then you could just tell the marina that there's no assets in the estate to pay for disposal, and that they can dispose of it as they see fit. The worst they could then do is sue the estate for costs, which would not get them far and which you would not be responsible for.
Also bear in mind that even if named as executor in a will, nobody is obliged to take on that responsibility. If they've not formally done so yet, they can decline to do so and save themselves a lot of work and stress.
lpdsn
Well-Known Member
No. It means he's got his hooks into you and whoever may buy the boat. You can't sail off somewhere cheaper at the end of the period that has already been paid. He can charge storage and a relaunch fee (as well as the fee to lift if you haven't already paid that) and you can't get the boat back in the water and leave without his co-operation - including settling all of the bills that will build up because of the lift out.
Carmel2
Well-Known Member
Cheap holiday home for all the family not at the same time mind?
Tranona
Well-Known Member
Somebody has to act as executor and the nominated one has a legal obligation to carry out his duties. He may, however engage a professional such as a solicitor to assist him but it comes at a cost. I was a joint executor together with my brother and nephew, but I did all the work except for the conveyancing of the house and applying for probate for which I paid a solicitor.
Tranona
Well-Known Member
You will find good information on both dealing with a deceased's boat and the process of selling/transferring title on the RYA website.
There is nothing complicated about it and you can handle it remotely, although it is useful to have a secure way of physically controlling the handover of documents in return for the money. Common to use a broker to do this bit, particularly if large sums involved. However, from what you say this is unlikely and your biggest problem is finding somebody prepared to take the boat on. So the key thing with documentation is to ensure that you transfer title to the new owner with confidence that he will assume responsibility for costs.
Bru
Well-Known Member
If probate has already been granted, it's too late to disclaim
And disclaiming the inheritance would leave the estate, and therefore the executor(s), with an ongoing problem as the estate would remain liable for any costs incurred in relation to the boat until title to the boat was transferred to some other party
Wizz
Member
That's a fair summary of where we're at
davidej
Well-Known Member
Well there you are. The boat is almost certainly worthless in its present condition and situation. If the estate has no other assets just tell the marina to sort it out.
DownWest
Well-Known Member
I have sent a note to someone in the Algarve to alert the community there. Might turn up a keen bod, there are quite a few forumites out there.
FulmarJeddo
Well-Known Member
I thought we were going to end up in a similar situation. My FIL had his Westerly Konsort in Alicante. He had decided he didn't want it anymore as he had moved into a retirement complex out there, but boats weren't selling out there. He considered getting it transported back to the UK as a base here but the cost made it prohibitive. In the end he sold for 5K Euros including a years mooring that he had just paid. So I would very much doubt the 10K value already mentioned is anywhere near its actual value.
If the boat is just abandoned in Spain building up fees, what can the marina do other than seize it and threaten to sell it? Surely if there are no other assets in Spain there is nothing they can do.
If the boat is just abandoned in Spain building up fees, what can the marina do other than seize it and threaten to sell it? Surely if there are no other assets in Spain there is nothing they can do.
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JumbleDuck
Well-Known Member
Nominated executors may renounce the task if they wish. If nobody at all is willing to act as executor, the court can appoint someone to do so, though I think someone has to ask them to do so. See https://www.thegazette.co.uk/wills-and-probate/content/100321
JumbleDuck
Well-Known Member
Are you quite sure about that? A disclaimer must be made within two years of the testator's death, but I can find anything to say that it must be before probate is granted. Neither can I find anything to say that an executor must contact all beneficiaries before probate/confirmation to check that they will accept their inheritance. Of course I may be missing something - IANAL(TG).
Hacker
Well-Known Member
If nothing else works. Empty her of any polluting material (flue, oil, etc). Find a friend with a rib and go for a sail. If a sea cock fails �� then you can hop onto the rib and wave goodbye.
Wizz
Member
Am still reading posts - thanks.
In terms of the executor, that's all in place already with probate granted. FIL left instructions with a solictor. Executor wants to do the right thing - the prospect of it hanging over him & siblings doesn't appeal. I can understand that.
As an aside - there is some interest the boat at present.
In terms of the executor, that's all in place already with probate granted. FIL left instructions with a solictor. Executor wants to do the right thing - the prospect of it hanging over him & siblings doesn't appeal. I can understand that.
As an aside - there is some interest the boat at present.
Yellow Ballad
Well-Known Member
I do think ebay if your friend here, if it has no valve to yourself then a €1 sale with the understanding the boat is either moved or a mooring contract agreed with the marina. I'm sure if you put it up for €1000 somebody would go for it which would cover your flights and a hotel a couple of times. If somebody had offered me a hurley 30 for a quid whilst I was looking for my first boat, even in Spain even would have jumped at it.
I wouldn't be thinking about dumping it on the marina or dumping it at sea, that's just bad form.
I wouldn't be thinking about dumping it on the marina or dumping it at sea, that's just bad form.
