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halftimer · 02-02-2015, 04:42 PM

A partnership is only as good as the partner .i have had both

bamaboy473 · 02-03-2015, 07:35 AM

[QUOTE=halftimer;2408737]A partnership is only as good as the partner .i have had both Types

fify (I think)

ballard770 · 05-31-2015, 10:08 AM

Danes, I am glad that you translated the agreement. You had previously mentioned an 85% correct google translation and that could be disastrous if Gomango tried a DIY approach and tried to complete it without someone with knowledge of the Danish language. I was executor of the U.S. portion of the estate of my aunt in Norway and I had to communicate with a cousin in Norway and when I used Google I had to do a lot of tweaking in both English to Norwegian and vice versa. In my case my knowledge of the Norwegian language got me thru the estate business. Even though the estate business was very serious there were many google translations that were downright hilarious.

Gormango, as far as a partnership I think it best to do it alone. We did a very unstructured partnership many years ago with my in-laws and there were problems galore. Much of that could have been avoided with a written agreement but I am a firm believer in going it alone.

I got kick out of your comment about the Patriots and a blowout after the deflated ball syndrome. Seahawks will arise again!

Lee

bamaboy473 · 05-31-2015, 10:21 AM

Tennis is an interesting game inasmuch as it gives insight into how people behave, and into their character. Close call on the line from the opponent, does he call it out? Slight tip of net on the serve, does he call it (even if you aced on that point)? If both of you share the same level of integrity on the court, I think a partnership is a good way to save money while enjoying a nice toy.

spsm · 05-31-2015, 11:02 AM

Are you SERIOUS.........buying an RV with a friend is like co-signing for a your friend's car. NO THANK YOU ....But, good luck to you anyway.

bamaboy473 · 05-31-2015, 11:09 AM

Quote:

Originally Posted by spsm

Are you SERIOUS.........buying an RV with a friend is like co-signing for a your friend's car. NO THANK YOU ....But, good luck to you anyway.

Different strokes. What's important is both parties understanding that the partnership revolves around....first, last and foremost....MONEY (not friendship).

Get the details in writing, including quit-claim ownership if a person breaches the contract. Be emotionally able to dissolve the friendship if this happens...and plan for what if one of you loses their job or gets divorced.

But it's do-able, fersure.

Leardriver · 06-16-2015, 02:03 AM

I have owned boats and RV's with another family for years. Worked great for me. Never a scheduling conflict or a disappointment. Maybe I was lucky.
Financing was never a problem, because we didn't believe in financing toys. Pay cash or do without. No contract was needed. Pick friends that have honor.

bamaboy473 · 06-17-2015, 06:00 AM

Quote:

Originally Posted by Leardriver

Financing was never a problem, because we didn't believe in financing toys. Pay cash or do without. No contract was needed. Pick friends that have honor.

You bring up a valid point about money. If either party goes by a family budget that's pretty strict, then they aren't good candidates for partnerships.

Both parties need to have enough COH or disposable income that the MH or boat or mountain cabin are just extensions of their fun-ness, instead of being another monthly bill to prioritize in the payment hierarchy.

cb1000rider · 06-17-2015, 08:46 AM

Quote:

Originally Posted by spsm

Are you SERIOUS.........buying an RV with a friend is like co-signing for a your friend's car. NO THANK YOU ....But, good luck to you anyway.

You guys that say no.. This is a pretty common arrangement with aircraft owners and probably translates well for RV use. Not all partnerships work out great, but it can be done well and work out for all involved.

I've been a partner in an airplane for going on 4 years now. I basically get to use it whenever I want. In 4 years, I've probably had 2 weekend conflicts.

We've got 1M in liability and if the aircraft was destroyed, it's insured above market value. The rest is how well the partners work together, who makes decisions, etc...

I can tell you that it CAN work out well and it's possible to get a nice toy at a fraction of total ownership costs...

raineman · 06-17-2015, 09:35 AM

To each their own. I have had friends in the past that I thought were worth their weight in gold. Just keep in mind that things and people can change. If a situation arises where your partner's life situation changes, such as illness, divorce, business or investment failure etc, a partnership for pure luxury item is going to be the first to go. No matter how good the intentions, life can have other plans. Good luck

gomango · 06-18-2015, 01:23 PM

We try to cover all the bases in the co ownership agreement. Nothing should be taken for granted.
Only time will tell on how its going to work out.
So far so good, of course we only had it for 2 months.
Open and honest communications is the key in any relationships even in joint RV ownership.

Dutch Star Don · 06-18-2015, 04:49 PM

One thing everyone has missed.....if you both own the RV you can never go camping with your friend.

Mr_D · 06-18-2015, 05:03 PM

Not common with RV's but lots more in the small airplane world. Someone on one of their boards should have some ideas and contracts.

bamaboy473 · 06-22-2015, 03:01 PM

Quote:

Originally Posted by raineman

To No matter how good the intentions, life can have other plans. Good luck

That is covered in co-ownership agreements that are well-thought-out.

In ours, it was all about paying when we're supposed to pay, to pay penalty if late, to have X number of days to correct a default, and finally, to give up ownership interest at a fire-sale price if we elect to.

Quit-claim documents signed by each partner at the onset allows things to proceed pretty easily if it comes to that.