Refueling with co-owners

[shawndoggy]

3 hours ago, formulaben said:

Reminds me of when I was preparing to buy a boat with a partner.  I was researching co-ownership contracts and saw a post where one guy said "if you need a contract, you have the wrong partner."  That was a eureka moment for me.  Gotta say, while it's very simplistic but it definitely worked for me...YMMV.

I disagree ... a little bit.  The best relationship of course is where each partner can read the other's mind and everybody does what the other thinks is the exact right thing without having to be asked.  Let me know when you find that partner (or spouse!).

Realistically, as this thread has shown, there are probably a bunch of ways to approach the problem, and whether or not everything gets committed in writing to an enforceable contract, it's really good to have reasonable expectations.  Expectations mean that you've identified problems and have mutually agreed on how they should be handled.  Frequently, folks don't even know that an issue could be an issue until they see things set out in writing.  And once a resolution is presented in writing it doesn't mean that's the only way to solve the problem.  If all parties communicate in good faith, they can come up with a solution that fits their needs.

[Bozboat]

15 hours ago, shawndoggy said:

I disagree ... a little bit.  The best relationship of course is where each partner can read the other's mind and everybody does what the other thinks is the exact right thing without having to be asked.  Let me know when you find that partner (or spouse!).

Realistically, as this thread has shown, there are probably a bunch of ways to approach the problem, and whether or not everything gets committed in writing to an enforceable contract, it's really good to have reasonable expectations.  Expectations mean that you've identified problems and have mutually agreed on how they should be handled.  Frequently, folks don't even know that an issue could be an issue until they see things set out in writing.  And once a resolution is presented in writing it doesn't mean that's the only way to solve the problem.  If all parties communicate in good faith, they can come up with a solution that fits their needs.

Still, a written agreement could be helpful if you wake up one day to discover that your best friend/boat partner has passed and your boat is out on the lake with Jethro Clampet.

[Infinitysurf]

You guys obviously have not watched Judge Judy or The People's Court ....every other case is an "ex" partner/best friend/girlfriend that they had no contract with cause they never imagined something bad could happen or there could every be a disagreement.