Legal Questions...

[Filligree Fairy]

Afternoon all.

 

A complicated question, and probably best answered by someone who's been in the same boat, as it were. We're looking to buy a boat to live on, but are unsure where the boat will stand as an asset. As an unmarried couple (shock, horror), neither has any legal right to the other's assets should one of us die - can we set up some kind of agreement to state shared ownership fo the boat, or do we just need to write wills that state that ownership would revert to the other?

 

Sorry, it's turned into quite a morbid post, but we both want to be certain we get what we want, and all the advice I can find online refers to buying houses, which to be frank is neither of interest or financially viable.

[NB Lola]

Yup

 

You use a solicitor or create a self build will. You can also pay your bit separately to further the joint ownership element

[Filligree Fairy]

Blimey, it's nice to know it can be that simple

[john6767]

When we bought our boat, the broker asked us if we wanted the bill of sale in joint names or not, so that would do it I would think. For many other reasons, you both do need to make wills of course if you have not already.

[sueb]

Could be cheaper to get married

[Paul C]

Could be cheaper to get married

 

Could be MUCH more expensive in the long run!

[Filligree Fairy]

Not being married is a choice, filling out extra paperwork is just an accepted downside. And hey, if it all went horribly wrong, I could run away, and no-one could (legally) do very much about it ;-)