Legal Question in Business Law in Massachusetts

Ownership Agreements

I want to purchase a fishing boat (for pleasure not for business) with my neighbor. We will own jointly but want to execute agreement detailing understanding between parties should one party no longer want to be an owner. Are there standard legal forms or sample agreements for this process?


Asked on 1/03/06, 4:09 pm

2 Answers from Attorneys
Barry Levine Law Office of Barry R. Levine

Re: Ownership Agreements

Off hand, I would not know. You could always look online for an appropriate legal form or check the legal forms that are available at OfficeMax and Staples. You would need an agreement that delineates such things as how expenses will be shared (dock fees, moorings, fuel), who will be able to use the boat at which certain times and other matters involving sharing of such an item. If you are unable to locate a form agreement, I would be pleased to discuss this matter with you at a mutually convenient time.

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Answered on 1/03/06, 4:42 pm

Re: Ownership Agreements

I do not know of such an agreement but you can check with various online sources.

Owning a fishing boat or any boat requires some detail about who is responsible for what, who gets to use it when, and who is the party responsible to authorities for its use and licensing.

I would suggest that an attorney who is familiar with boating matters would be of benefit to you more than simple forms.

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Answered on 1/04/06, 11:31 am


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