A sample boat share agreement is a legal document that outlines the terms and conditions of sharing ownership and use of a boat between two or more parties. It is a crucial document that can help avoid misunderstandings and disputes between boat owners.

Boat sharing has become increasingly popular in recent years as it allows individuals to share the cost of boat ownership while enjoying the benefits of boat ownership. However, before entering into a boat share agreement, it is essential to have a written agreement that clearly outlines each owner`s rights and responsibilities.

Here are some essential components of a sample boat share agreement:

1. Ownership and percentage split: The agreement should outline the percentage of ownership each party has in the boat, including how the purchase price of the boat was split between parties.

2. Use of the boat: The agreement should clearly indicate how the boat will be used, including who is responsible for making maintenance and repair decisions, who is responsible for insurance and mooring fees, and how the boat will be used on holidays.

3. Time allocation: The agreement should also outline how the boat will be allocated to each owner. Typically, each owner has a set number of days or weekends to use the boat. The agreement should also outline how owners can swap their allocated time if necessary.

4. Maintenance and repair: The agreement should outline how maintenance and repair expenses will be split between owners. It should also detail who is responsible for ensuring the boat is in good working order and safe to use.

5. Sale of the boat: The agreement should outline what happens if one or more owners want to sell their share of the boat. It should also outline how the sale price will be determined and how the remaining owners will have the right of first refusal to buy the share of the boat in question.

In summary, a sample boat share agreement is an essential legal document that clearly outlines the terms and conditions of sharing ownership and use of a boat between two or more parties. It is crucial to have a written agreement to avoid misunderstandings, conflicts, and disputes between boat owners.