Protection of all parties is our goal! Form of ownership will be LLC.
If you have viewed the internet about the early fractional yacht ownership programs I am sure you have seen where owners were defrauded. Owners have overpaid for the yachts and yachts were forced to be sold because one owner had personal issues.
Well, NO MORE! Fractional Sportfishing Yachts program requires the owners to select, pay and insure the yacht of their choice.
The only money paid to Fractional Sportfishing Yachts is the five year operating budget amount which will be placed in escrow accounts. This stops the forced sale of the yacht due to another owners issues.
Items included in the five year operating budget are: management fees, captain and crew’s salary, accounting, concierge services, maintenance, off-season dockage.
Items not included – Billed to owners accounts while on board: fuel, food, drink, liquor, dockage/mooring, personal excursions, entry fees, relocation expenses and repairs.
No money down to reserve a position with Fractional Sportfishing Yachts. You can change your mind at any time. Owners fund their five-year operating budget accounts when they enter into contract with Fractional Sportfishing Yachts.
For whatever reason an owner decides to sell their share, the balance in their operating account should be included in the sales price, as operating account funds are non-refundable until sale of the yacht.
When the yacht is sold ALL proceeds are split per ownership percentages! Fractional Sportfishing Yachts does not take a penny.