Fractional Ownership
Structure:
The boats are structured with either one eighth and one quarter shares or a combination of both, in a legal corporation which makes the owners of the boat, shareholders of the corporation. This means that you actually own the one eighth and one quarter share of the boat.
Management:
Yachtshare employs book keepers, administrators, and crew to oversee all aspects of keeping the boat up to date with paperwork and in pristine condition. Monthly statements are electronically mailed to all shareholders.
Brands:
We offer all the boats we represent at Landon Marine in this program. Grady White, Riviera, Azimut, and Marquis.
Payments:
The owners are responsible for the purchase of the boat and a monthly fee.
Monthly fees:
Covers moorage, crew, supplies, insurance, permits and other administrative fees.
Crew:
The crew maintains and services the boat to ensure safe, trouble free operations.
Usage:
With a one quarter share - one week per month; with a one-eighth share - one week every two months.
Term:
The yachts are typically owned for 3 years and then sold. Owners can extend this with 100% shareholder agreement.
Warranty:
Manufacturers warranty and extended engine warranties cover most defects.
Haul out:
Once per year the yacht is hauled to paint the bottom, replace bearings and zincs.
