FRACTIONAL OWNERSHIP C HRISTOPHER J. A NDERSON. EXAMPLE OF BASIC STRUCTURE CORPORATE ENTITY (LLC or INC) OWNER 1 (25%) OWNER 2 (25%) OWNER 3 (25%) OWNER.

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Presentation transcript:

FRACTIONAL OWNERSHIP C HRISTOPHER J. A NDERSON

EXAMPLE OF BASIC STRUCTURE CORPORATE ENTITY (LLC or INC) OWNER 1 (25%) OWNER 2 (25%) OWNER 3 (25%) OWNER 4 (25%) OWNER 4 (25%) VESSEL

TYPICAL DOCUMENTS FOR FRACTIONAL OWNERSHIP  PURCHASE AGREEMENT  POWER OF ATTORNEY  ESCROW AGREEMENT  OPERATING AGREEMENT/SHAREHOLDERS AGREEMENT  YACHT USAGE AGREEMENT  YACHT MANAGEMENT AGREEMENT

LEGAL HURDLES/ISSUES  SEC Pitfalls (Securities and Exchange Commission)  Finding sufficient shareholders (what happens if you can’t find enough potential shareholders)  Sale of the yacht  Damage to the yacht  Non-payment/Non- performance by a shareholder

C HRISTOPHER J. A NDERSON (305) A copy of this presentation can be found at: Click on “News and Resources” THE SMALL PRINT: T HE STATEMENTS CONTAINED IN THIS PRESENTATION (1) DO NOT REPRESENT OUR OPINION OR RECOMMENDATION, (2) ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY, AND (3) ARE LIMITED AND DO NOT REPRESENT A COMPREHENSIVE OVERVIEW OF ALL LAWS THAT MAY APPLY TO YOUR SPECIFIC CIRCUMSTANCES. W E SUGGEST THAT YOU CONSULT YOUR ATTORNEY REGARDING YOUR PARTICULAR SITUATION. © 2012 R OBERT A LLEN L AW

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