Boat co-ownership agreement template.

1. 01

   The owners

   Who is signing: each owner's legal name, address, email for notices and phone.

2. 02

   The boat

   Exactly what's shared: make, model, year, HIN, registration, title, engines, trailer and where it's kept.

3. 03

   Ownership shares and buy-in

   Each owner's share of the boat, costs and time; the buy-in price and payment; survey, liens and how decisions are made.

4. 04

   Title and registration

   Getting every owner on the title and registration, who keeps the originals, and who pays any sales tax.

5. 05

   Insurance

   Hull and liability cover with every owner named, who pays the deductible, and how claims are handled.

6. 06

   Marina, slip and storage

   Whose name is on the slip agreement, following marina rules on partners, and off-season storage.

7. 07

   Fixed costs

   A yearly budget for slip, insurance, registration, storage, routine maintenance and any loan, and how it's paid.

8. 08

   Variable costs (the user pays)

   Fuel, cleaning, trip costs and guests' damage are paid by whoever is using the boat.

9. 09

   Maintenance and repairs

   A maintenance coordinator, spending limits that need no approval, bigger repairs, upgrades and emergencies.

10. 10

    Scheduling

    How time is split (alternating weeks, split week, shared calendar), holidays, booking and cancellation rules.

11. 11

    Use rules and safety

    Who may operate, guests, alcohol, safety gear, pets, overnight use, and what's not allowed.

12. 12

    Damage, accidents and responsibility

    Who pays when something breaks on your watch, and what to do after an accident.

13. 13

    Records and the shared account

    The joint account or expenses app, a repair reserve, and the logs and documents everyone can see.

14. 14

    Late payment and default

    Notice, late fees, covering a missed payment, and when a partner can be required to sell.

15. 15

    Leaving: selling your share or the boat

    Minimum term, right of first refusal, outside buyers, fair value, and selling the whole boat.

16. 16

    Death or incapacity

    What happens to a share if an owner dies or can't manage their affairs.

17. 17

    Disputes

    Talk first, then mediation, then arbitration or court, and keeping the boat insured meanwhile.

18. 18

    Term

    When the agreement starts and ends, and an annual review.

19. 19

    Changes and general terms

    Written changes only, governing law, notices, and that you're co-owners rather than business partners.

20. 20

    Signatures

    Signature blocks for each owner, with a note on notarizing.

Schedules

1. A

   Schedule A: Equipment and inventory

   The gear that comes with the boat, and personal items each owner keeps aboard.

2. B

   Schedule B: Handoff checklist

   Fuel, trash, batteries, bilge, cover, keys and the log, before the next owner takes over.

3. C

   Schedule C: Approved operators

   Everyone allowed to drive the boat, with age, boater card and insurance status.