JohnH wrote:
On Tue, 15 Aug 2006 12:05:41 -0400, "Reginal P. Smithers III"
wrote:

Harry Krause wrote:
JohnH wrote:
I will soon be moving my boat down to the Rappahannock River to make it
available to my kids for their use. Right now the drive for them is much
too long. As part of the deal, we three families will share expenses for
storage, maintenance, and insurance. I will retain title to the boat.
I'd like to draw up an agreement of some sort for such a use of the boat.
Any ideas on what considerations I should include therein?
--
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***** Have a Spectacular Day! *****
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John

First, you need a slightly larger boat in better repair, with an
enclosed
This really could make for some very very unpleasant family reunions.


Second, you are headed for disaster. Family members as boat partners is
a bad idea, especially for a guy like you who keeps his boat very clean.

Third, you need an agreement that stipulates sharing of expenses and
maybe even monthly payments into a special checking account for
maintenance, storage, and insurance.

Fourth, you need rules for keeping the boat clean and in good repair.

Man, that's a long drive from where you live. Two to three hours, no?

Luckily, the boat's not big enough for any family reunions. Only one family
can fit on it at a time.

If it doesn't work out, nothing will have been lost. If it does, there's a
lot to gain.
--
******************************************
***** Have a Spectacular Day! *****
******************************************

John
JohnH,
My fast type off a one liner, confused you. A bad financial arrangement
among family members can make the Thanksgiving Dinner very unplasant.
Sharing an expensive boat, even one given to them, can become unpleasant
if one is tidy, and one guy is a mess. If one guy is the one who always
handling the boat when an expensive breakdown occurs etc.

Sure, if it works out there is a lot to gain, but DAMN if it doesn't
work out, there is a lot more to lose.