Q: How long is the
period of ownership?
A: There is no cut off date by which
the boat must be sold. The members continue to own their share of
the boat as long as they are having fun. When 2/3 of the
shareholders vote to sell their share, the boat will be sold.
Q: Why is there no fixed point in
time - such as 5 to 8 years - when the boat will be sold?
A: Keep in mind that Amazing Grace is
owned outright. There are no loans to pay off. As long as
the members feel that the maintenance bills are reasonable they will
want to continue owning and enjoying the boat.
Q: What are my options when I want
to sell my share?
A1: Sail Boat Partners can sell your
share for you.
A2: You can sell it yourself.
Q: Can we charter the boat?
A: No. When the boat leaves the
dock one of the owners MUST always be aboard. The objective is
to have OWNERS
sailing the boat, not charterers. Members who have an
ownership interest will be much more likely to take good care of the
boat than charterers who will probably never step aboard
again.
Q: Are there other factors that
help this program work?
A: Members will have a similar goal:
cruising the Caribbean under sail with friends and family. Serious
racers belong in J-Boats or sailboats dedicated to speed. The
Catalina 42 is designed as a family cruiser.
Q: Why will the boat be owned by a
corporation with limited liability?
A: The purpose of the
corporation is to provide a limit incurred by the members. If a
member were involved in a serious accident involving major damages the
insurance policy would pay up to $500,000.00 in claims. At that
point the assets of the company would be extended and the company
would be bankrupt. It is reassuring to know that there is a limit
to the liability one is facing and that is the amount the insurance
policy would pay out.
Q: What is the Layout
of Amazing Grace?
A:
3-stateroom layout. One master suite forward and two aft berths
with two complete heads (shower, vanity, and toilet) plus a third shower
on the swim platform.
Q:
Who will manage the boat in the Virgin Islands?
A:
Arjan Stoof is a graduate of the Maine Maritime Academy and has over 15
years experience in the sailing industry. He is a full time resident of
Tortola.