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.

 

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