People have been forming partnerships to co-own expensive assets for a long time, but until now they have had to figure out the logistics themselves. The benefits of shared ownership are very appealing, but it’s been too cumbersome for most to set up. Finding the right partners, setting up partnerships, and managing the logistics of owning a shared asset can be time consuming and difficult. We have created a program that makes the entire process easier and makes shared ownership available to everyone.
Number Of Owners
Up to five owners each buys a share in a luxury yacht at a fraction of the cost. Unlike timeshare programs where you do not own the yacht and end up with nothing at the end, this program ensures that you have an equity stake in the yacht and hold title of the vessel. We limit the shares to only five owners per boat or less. That way all owners are guaranteed to get equal time. Because owners of fractional shares involve direct ownership, each user has greater control over how the boat is used and maintained and where it is located.
Duration Of The Program
Duration of the program is 7 years. The boat will be sold at the end of the program. Upon the sale of the asset, the owners recover a percentage of their initial cost and will be proportionally refunded from the net proceeds. The owner is free to sell their ownership interest at any time. Since fractional yachts are well maintained and serviced, the value of each owner’s share may not devalue as rapidly as an average yacht’s value.
Owner Weeks & Cost Per Share
Partners own 20% of the boat in an LLC, boat is financed, and chartered through a charter company based in the British Virgin Islands or Bahamas. Partners get to use it two weeks a year plus anytime it’s not booked within 30 days out for a total of 10-15 weeks for the duration of the program. Each week retails for $12K which is waived. Partners only pay cleaning and insurance and variable weekly costs.
