Waterkampioen watersport magazine

Shared ownership of a boat, is asking for trouble?

FOR: the proposition of mr. Hommersom: “Despite good agreements you can still encounter unpleasant surprises with shared ownership”.
“First of all, realise that you are co-responsible for damage to third parties caused by the boat of which you are co-owner (“fault of the ship”), even if you were not on board at the time of the accident. Appropriate water sports insurance is essential. However, it will not help you if it does not cover you because the damage was caused by intent or recklessness on the part of the skipper. Furthermore, problems can arise if one of the owners wants to sell his share.

What conditions apply then?
You could, by selling a co-owner’s share, just be stuck with an owner you don’t like. And what do you do when a co-owner contributes too little to the maintenance of the boat and the like? You cannot force him or her, or only with great difficulty, to get rid of his share. If one of the owners has debts, his share can also be seized. The other owners cannot then sell the boat. Ask yourself: do I want to be a shared owner of a large vessel or a full owner of a small vessel?”

AGAINST: Mr. E. de Waard’s statement: “By making good agreements and also recording these, you should not expect any problems.”
“The maintenance, the cleaning and who uses the boat and when, must be well arranged. You also have to keep checking on that, so that irritations don’t get a chance. It’s also a matter of good mutual consultation and especially not letting one owner be responsible for everything. But that too can be arranged. The agreements with the insurance company about shared ownership can also be laid down very well. The party who uses the boat when an accident occurs is responsible for handling the damage and the excess. Liability is then also his responsibility. Planning ahead is obviously important, but being flexible is too; if it’s your week and you’re not using the boat, let us know in time. That way the boat is not lying unused while someone else would have liked to sail it. Internet can help with this so that every co-owner can access all the information about the boat à la minute. Calling in a third, professional party can also prevent and possibly solve a lot of potential difficulties in the area of shared ownership. Because shared ownership can, if you arrange it well, be really nice and cozy. For everyone the boat feels like property and therefore everyone takes care of it. And in the end you often even sail more than if you were the sole owner, because you have to spend less time on maintenance, while the costs are significantly lower.”

More information or download old articles: https://www.anwb.nl/kampioen/algemeen/digitaal-archief


Frits Hommersom met groene bril

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