Selling any vehicle can include potential liabilities, and maritime vessels are no exception. When selling a large yacht, sellers must craft a contract that limits liability once the transaction concludes. You and your legal team can consider some specific clauses and...
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New trends in financing yacht acquisitions
Purchasing a large yacht is an exciting endeavor that involves more than just choosing the right vessel. It often requires navigating complex financial options tailored to high-net-worth individuals. The rise of peer-to-peer lending Peer-to-peer lending platforms are...
FAQs about necessary documents before taking a yacht trip
Embarking on a worldwide trip on your yacht is an exciting adventure that requires careful preparation, especially when it comes to having the right documentation. Ensuring you have all necessary papers in order is essential for smooth sailing across various...
3 things to check when buying a previously owned yacht
Buying a previously-owned yacht can be an exciting venture, but it is essential to conduct thorough checks before making the purchase. The possibility of structural issues or operational failures can lead to fatal accidents when you take the yacht out to sail. Here...
3 common construction problems with yachts
Building yachts is an intricate process that demands precision and expertise. Despite planning and execution, construction issues cause delays and additional costs. People should explore common issues encountered during the construction of large yachts. 1. Lack of...
6 issues to be aware of before you buy a yacht with good friends
Purchasing a yacht with friends may seem like a dream come true. There is a lot of appeal in cruising the open seas together, sharing adventures and making memories. However, before embarking on this journey, consider several factors to avoid potential issues down the...
3 things to know when selling your yacht through a broker
Selling your yacht through a broker can streamline the process and ensure a successful transaction. However, it is important to understand the legal aspects involved in such a sale. There are a few legal considerations to keep in mind when selling your yacht through a...
Legal risks to consider as a first-time yacht owner
Owning a yacht can be an exhilarating experience, but it comes with its fair share of legal responsibilities and risks. As a first-time yacht owner, sooner is better when it comes to addressing these potential hurdles. By going into your first yacht transaction with...
Common pitfalls in yacht deals and how to avoid them
When entering the world of yacht deals, you need to navigate the waters with caution. Yacht transactions, while exciting, can be fraught with pitfalls that could turn your dream purchase into a nightmare. Overlooking inspection issues The yacht industry was an $8.91...
4 steps to take when your yacht has construction defects
Owning a yacht is a thrilling venture that brings joy and excitement. However, encountering construction defects can be a bump in the smooth waters of yacht ownership. It is important to address these issues promptly to ensure your vessel remains seaworthy and your...