Ownership glitches?

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Wansworth

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I live most of the time abroad but keep my boatin the UK.This presents various problems of getting SSR number and insuranceas the insurance company’s want a UK address.I was pondering the idea of selling my boat to my daughter who lives in the Uk so all would be legit.But would I be able to use the boat.Maybe a written agreement to let me use the boat.Any thoughts on this idea?, thanks
 
Well, starting from the top:

a) Part One registration may be possible.
b) You can set up a company registeed in the UK and sell the boat to that company
c) Yes, you can sell the boat to yopur daughter and charter her back (but in that case be sure that your insurers are happy with the idea, and be sure that you are named as an additional assured).
 
Minn said:
Well, starting from the top:

a) Part One registration may be possible.
b) You can set up a company registeed in the UK and sell the boat to that company
c) Yes, you can sell the boat to yopur daughter and charter her back (but in that case be sure that your insurers are happy with the idea, and be sure that you are named as an additional assured).
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That sounds complicated. As soon as the word “charter” is used there will be coding issues. Much better for daughter to agree that dad can use the boat whenever he likes. Daughter let’s the insurer know that dad uses the boat and cover is needed for that situation. Easy?
 
The simple answer is Part 1 if you are a British citizen. Your daughter can be your representative. this assumes you have the documentation required to establish your title and you don't mind the cost of the survey. Your insurer will probably then accept your daughter's address for insurance.
 
Wansworth said:
I live most of the time abroad but keep my boatin the UK.This presents various problems of getting SSR number and insuranceas the insurance company’s want a UK address.I was pondering the idea of selling my boat to my daughter who lives in the Uk so all would be legit.But would I be able to use the boat.Maybe a written agreement to let me use the boat.Any thoughts on this idea?, thanks
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Why not just give your daughter's address?
 
JumbleDuck said:
Why not just give your daughter's address?
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This is what we’ve been doing for years now. Because we spend so much time abroad and move from place to place when in UK, all our day to day business uses our daughters address. This hasn’t caused us any problems and is a simple way of keeping a UK presence for the day when we return on a full time basis.
 
Thinking a bit more - do you actually need to be on a register? If you don't plan to go abroad the only issue is insurance and pretty sure you could get that using your daughter's address.
 
Why break the law pretending to be something you're not, or get embroiled in the financial/coding etc. complications of charter?

Give the boat to your daughter, she registers it in her name, tells her insurers she is owner but you will often be using the boat, and she gives you a letter confirming you are permitted to use the boat (you'll probably only need this if you go abroad with the boat).
 
/y
LittleSister said:
Why break the law pretending to be something you're not, or get embroiled in the financial/coding etc. complications of charter?

Give the boat to your daughter, she registers it in her name, tells her insurers she is owner but you will often be using the boat, and she gives you a letter confirming you are permitted to use the boat (you'll probably only need this if you go abroad with the boat).
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Thanks that sounds the most reasonable,thanks for everybody’s imput
 
LittleSister said:
Why break the law pretending to be something you're not, or get embroiled in the financial/coding etc. complications of charter?

Give the boat to your daughter, she registers it in her name, tells her insurers she is owner but you will often be using the boat, and she gives you a letter confirming you are permitted to use the boat (you'll probably only need this if you go abroad with the boat).
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Do marine insurers get as cross about "fronting" as motor insurers? Because the arrangement you suggest, applied to a car, could cause a whole heap o' trouble and pain.
 
Sell 63 of the 64 shares in the boat to your daughter, at her named address, and keep 1 for yourself.

You than have a legit interest in terms of insurance and usage.
 
JumbleDuck said:
Do marine insurers get as cross about "fronting" as motor insurers? Because the arrangement you suggest, applied to a car, could cause a whole heap o' trouble and pain.
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As there's no general legal requirement for a licence or insurance in the UK there won't be any issue about "fronting". it would be an issue in some countries and although letter from the owner will cover the insurance issue, the user would need the approved personal "licence" to use the boat.

Richard
 
Wansworth said:
Are there any insurance agents around the Chichester area who I could discuss this and maybe take out insurance?
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Just get 3 or 4 on line quotes from recognised insurers using your daughter's address (if she agrees). They will send you their terms and conditions plus policy wording electronically so you can check if you comply.

Also perhaps worth calling Y Insurance in Plymouth who many of us here use for advice.
 
RichardS said:
As there's no general legal requirement for a licence or insurance in the UK there won't be any issue about "fronting" ...
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Not from the "needing cover" point of view, but how about fro, the "utmost good faith" and "fraud" points of view? The proposal seems to rely on withholding information from the insurance company and that is rarely a good idea.
 
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