I think Jim made some very good points. I wanted to add that I bought my
boat with my father in law thinking I will only take it out a few hours a
week, as it turns out I got addicted to wakeboarding and now take it out
2 -3 times a week. Luckily, he never wents to to take it out, but if he did
i would be screwed. be careful, boats are addictive
"Jim Donohue" wrote in message
news:7FQ%a.1103$n94.336@fed1read04...
I am not a small boat guy so I will leave those questions to someone who
knows something.

I do however have a good bit of partnership experience.

First decide how the partnership ends. How many partners to end it and
how
to do it...Get that in place before you buy anything.

Second decide how a partner leaves. Do he sell his share or simply walk
or...

Third decide how costs are divided up and paid. Note that this is related
to prior and next item. Have clear plans for repairs and maintenance.
Unless someone is well suited to the role pay an outsider to do them.
More
expensive but it vastly limits partnership friction.

Fourth decide how the boat is scheduled. I recommend a regular schedule
of
"ownership" with the owner allowing other partner usage as he sees fit.

Fifth - Write it all down. You will be sorry if you don't...and it may
well
cost you a friend or a lot of money.

Jim
"BooBoo12321" wrote in message
. net...