Refitting a yacht can enhance its performance, appearance, and value. However, you must navigate certain legal and compliance requirements before and during the process. Ignoring these items can lead to fines, delays, or even safety risks. Understanding the...
Maritime Ownership
Key clauses to limit liability in a yacht sale contract
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...
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...
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...
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...
How can yacht charters help owners offset costs?
Luxury yacht ownership is a dream for many, but the associated costs can be daunting. However, many savvy yacht owners have discovered an elegant solution to mitigate these expenses: yacht charters. If you’re thinking of ways to offset costs as a first-time yacht...
Questions to ask before buying your first yacht
Many people who buy yachts have wanted to complete such a purchase for years or perhaps even decades. It may be one of the things that they set out to do with their life, and they are thrilled that they have finally reached a point where it’s possible to enjoy this...