In the airplane world there are a variety of partnerships. Some have equity partners with ownership interest and some have a lower tier of partner that pay a defined amount per month and per hour, but have no equity in the aircraft. You need to be careful with your insurance company – they may see this as some kind of charter operation and want a different policy. Airplanes can usually only be shared 4 ways until the insurance decides it is a flying club and doubles the rates ☹
Joe Della Barba Coquina From: CnC-List [mailto:cnc-list-boun...@cnc-list.com] On Behalf Of Robert Gallagher via CnC-List Sent: Monday, July 14, 2014 10:19 AM To: cnc-list@cnc-list.com Subject: Re: Stus-List dual ownership? On the subject of partnerships; Does anyone have any experience with some sort of limited partnership. Here is my situation: 30 MKII, in very nice but not perfect shape. Well equipped for weekends and short cruises. Basic electronics and older sails. I don't race, the sails are decent but to race competitively would require $eriou$ upgrades. I work almost every weekend and holiday. I'm limited in my summer vacation time. I have my own mooring so I simply pay for dinghy storage/access at a marina in the summer. Winter haul out/storage is very reasonable and I do ALL my own maintanence and repairs. The boat is financed/insured. I'm on my boat every tues/wed/thurs and end up using it about three or four weekends a year. One for my spring cruise and one for my fall cruise. I have often considered a partner or putting the boat out for charter to help cover costs as I'm never on it during the weekend. As the boat is financed, it would seem wise to keep it in my name and find someone who would contribute marina fees and use the boat darn near any weekend they choose. Maybe just keep it on a year to year basis, sort of like a lease? $2K per year would most of the marina/storage fees and I don't plan on any major upgrades. Or would that create more problems than it would solve? Rob
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