On 1/20/2011 6:26 AM, Wayne B wrote:
On Wed, 19 Jan 2011 12:36:21 -0500,
wrote:

But the idea of "boat partnership," well, I just don't know. There are
some boat partnerships at the club, so I'll have to ask the guys how it
works out for them.

I haven't seen too many that lasted more than a few years. The most
important section of the partnership agreement relates to how it is
terminated.

There are usually major differences of opinion on how much to spend on
the boat for both maintenance and the purchase of upgrades. This is
even more of an issue when partners are not on more or less equal
financial footing.



Good points. So far, the agreement is that my brother will pay 75% of
the selling price of the boat, we will split dockage, storage, and
routine maintenance, and if anything serious fails, like an engine or
transmission or generator, it's on his credit card. I really think he is
doing this because:

1. He wants to keep the boat in Branford. He lives in NYC. But he's here
in Branford almost every weekend from mid-May through September, so he
obviously likes the accommodations.
2. I live in Branford.
3. I take good care of my "stuff."
4. He wants to impress his weekend lady friends.

We are not on "more or less equal financial footing." He's a NYC lawyer
in a big firm and I'm an underpaid tenured college professor. :)