This is what we did when we had a partner on our last boat. He wanted out for life reasons so we agreed on half the fair market value as my buyout.
Mike Persistence Halifax, NS From: CnC-List [mailto:cnc-list-boun...@cnc-list.com] On Behalf Of Joe Della Barba via CnC-List Sent: Thursday, April 05, 2018 12:24 PM To: cnc-list@cnc-list.com Cc: Joe Della Barba Subject: Re: Stus-List Partnership buyout - without an agreement Without a defined buyout, this is kind of a pain. My first guess would be the person leaving owes you 25% of fair market value. Joe Della Barba j...@dellabarba.com<mailto:j...@dellabarba.com> From: CnC-List [mailto:cnc-list-boun...@cnc-list.com] On Behalf Of Andrew Means via CnC-List Sent: Thursday, April 05, 2018 11:16 AM To: cnc-list@cnc-list.com<mailto:cnc-list@cnc-list.com> Cc: Andrew Means <andrew.cnc...@gmail.com<mailto:andrew.cnc...@gmail.com>> Subject: Stus-List Partnership buyout - without an agreement Hey all - I’ve been part of a boat partnership for the past 9 years with three of my friends. This partnership has lasted over a series of boats and we’ve had very few issues with the whole arrangement. Presently however one of the partners is wishing to be bought out or to sell their share, just before a re-rigging project. Since we don’t have an agreement in place we have to navigate these waters ourselves, but I wanted to see if you guys had experience or knew what the most common buyout arrangements (i.e. what agreement *might* we have signed had we signed one 9 years ago?). If we find a buyer we all like in short order then this may all go perfectly smoothly, but if we don’t I’d like to have advice for the best way(s) to proceed. Andrew
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