29. 07. 09
How does fractional sailing work for a member-owner?
I’m considering becoming a member-owner for a fractional sailing club. Basically you put up part of the money for a new sailboat, and then people pay a monthly membership fee to maintain/use to boat.
What happens after the contract for the fractional sailing expires? Do you own the boat or does the fractional sailing club? Are you locked into owning that boat only thru the club? What happens?
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You hold the mainsheet for 1/3 the time
You have the tiller for 1/3 the time.
You mind the cooler for 1/3 the time.
Yeah, the club owns the boat, you never really own the boat. You are really just buying time on that boat for the season.
Of course read your contract carefully, and ownership should be defined.
there is no standard answer. have a long conversation with the sailing club and ask to read the contract. some sailing clubs are just time shares for sailing, others offer sailboat ownership (your own boat) after a period of time.
beneteau offers fractional sail boat ownership where for a 3 year period you are a 1/4 owner in the sailboat. you can use the boat about 1/4 of the time. after three years the boat is sold and some $ (up to 75%) are returned to you. you can also sell your ownership position before the three years are up. after the three years are up you could also buy the boat.
http://beneteaufractional.com/faq/
you may want to have and attorney review any contract before you sign it.
hope this helps
I work for WindPath Sailing, and this is how our program works: You purchase a new Catalina Yacht working with your local WindPath base manager. You own all the equity in the boat and lease it back to us for use in the program. Your agreement with the base manager generally runs for a period of 3-5 years depending on your needs. During those 3-5 years we take care of all maintenance and boat related expenses, from insurance to slip fees, we also give you a guaranteed monthly income which usually covers the cost of the bank note.
At the end of the 3-5 agreement you have 3 options:
1. Keep the boat and maintain it on your own
2. Sell the boat, buy a brand new one a re-enroll it in our program
3. Sell the boat and walk away