# Bareboat charter contract with 0.1% title interest?



## UltimateWalrus (Aug 6, 2014)

Hello,

Is it normal/advisable to assign a lessee something like 0.1% interest in your vessel's title, to help facilitate slip acquisition during a bareboat charter?

Thanks!
---Sebastian

[edit: cut out unnecessarily verbose post]


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## Erindipity (Nov 29, 2014)

"Would it be worth having a maritime lawyer proofread my contract?"

Yes. 
This is not really the Forum for these kinds of discussions.
These kinds of discussions should be held in Confidentiality between You, and your Lawyer(s), in a room panelled in Mahogany, and littered with Lawbooks. Pay the Big Bucks.

This is just possibly the most self-absorbed, and boring, post ever submitted here. And all for an old, and nearly worthless, Ericson... Which I assume, doesn't really wish to be further involved.


¬Erindipity

(Sell the Boat; get on with your Life. ¬E.)


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## UltimateWalrus (Aug 6, 2014)

Erindipity said:


> "Would it be worth having a maritime lawyer proofread my contract?"
> 
> Yes.
> This is not really the Forum for these kinds of discussions.
> ...


...Sorry... it's been a long day of putting together a contract and I'm a bit fried from all the legalese.  Maybe it wasn't really necessary for me to bother people with this post. It wasn't my intent to waste people's time.

For the record, the Ericson is not worthless to me. I've put work into it and have it exactly how I like it, which is why it's worth more to me than it is to someone else, and why it makes more sense to lease it than sell it right now.


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## Erindipity (Nov 29, 2014)

Apology accepted, and in return, I apologize to you- I was a little harsh.

There are Lawyers for reasons. I tend to avoid those reasons, which is why I have had little contact with Lawyers.
But I do understand the basics of Contract Law.

One can not simply write down whatever legalese that comes into their head, and have it hold in a Court Of Law. Others have actually gone to some effort to make Contract Law accessible. They have provided Boilerplates for simple Contracts, that _do_ hold up:
https://en.wikipedia.org/wiki/Nolo.com

(I used Nolo for my Will, not that I have any intention of needing it executed. Well, not anytime in the near future.)

"For the record, the Ericson is not worthless to me. I've put work into it and have it exactly how I like it, which is why it's worth more to me than it is to someone else, and why it makes more sense to lease it than sell it right now."

The problem here is that your opinion is of little value under Contract Law, unless it is backed up by a reputable Survey. I saw your wildly optimistic Listing btw, before it was yanked...

Insurance under Leases can be complicated; ideally the Owner carries the Hull Insurance, just as Rental Car Agencies carries the Body Insurance and passes it on to the Renters. Liability Insurance is the responsibility of whoever is at the Tiller. But there are many ways that this can be handled.

For Boats of significant value, Charter companies handle these details, it is what they do.
So unless you know _exactly_ what you are doing, you need a Lawyer, a Marine Surveyor, an Insurance Broker, maybe a Charter Agent... and then you have to deal with Scheduled Maintenance; who is responsible for it, and when.

This simply doesn't make sense for a small, four-decade old, Ericson.

¬Erindipity


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## UltimateWalrus (Aug 6, 2014)

You know what, you're right... the boat is worth a lot to me, but it's not worth _that_ much. I do have a leaser lined up, but I think I will just have to accept that there is some degree of risk involved with the actual tenant... it's not as if I'm risking a hundred thousand dollar boat or anything.

I am just overthinking this. I think I've gotten overly defensive over the years due to all the freelance work I've done and not gotten paid for, partially due to my stupidity in choosing clients and setting up contracts/payment plans.


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