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Frequently Asked Questions

For Fractional Partners
Can I obtain financing for purchasing my fractional share?

You cannot use the yacht share as collateral for a conventional yacht loan. However, there maybe other tax friendly options for financing available such as home equity loans and investmetn account margin loans.

How is my share of yacht usage determined?

You are enittled to up to 12 weeks per 25% share; so, up to 24 weeks for a 50% share.

How are ongoing yacht expenses shared and billed?

Regular expenses are shared according to your % share owned and are billed monthly by FYG. Repair expenses that arise as a result of a particular partners mishap during his/her use of yacht (e.g. prop damage) are 100% the responsibility of that partner.

What are FYG’s yacht management responsibilities?

FYG keeps the yacht prepared and ready for use at all times, either by fractional partners of by paid charter customers.

If I cannot fully use my share of usage time, can I offer my share of the yacht for charter?

Yes, FYG will market weeks of a fractional partner's usage time as it does for other charter vessels. Any net revenues earned as a result will be paid monthly.

How do I book my usage?

You simply contact FYG Charter office to check on the availability of your yacht.

What are the costs for each usage?

Each time you use the the yacht, there will be a nominal turnaround fee based on the size of the yacht and a small insurance supplement to cover insurance deductibles.

How does FYG determine if I an qualified to use the yacht?

The FYG charter office personally knows each owner and his/her capabilities. Initially, a resume of your experience and trial run with a captain to confirm competency may be needed. If you are uncomfortable, the FYG will refer a crew/captain to assist with the usage.

Can I hire a captain/crew to help me use the yacht?

Yes, FYG can provide references to obtain qualified help.

How is the yacht’s personnel capacity limits determined?

FYG uses the CE rating for day trips and sleeping cabin capacity for overnight trips.

What is the permitted cruising area?

Typically, the Florida Keys and the Bahamas for trips of 1-3 weeks. However, depending on experience and time requested, other destinations may be possible.

How are cases of accidental damage and towing assistance handled?

Damage is assessed immediately upon return to base. A towing service is called, if necessary.

What are my responsibilities when I return the yacht?

The yacht must be clean and all defects found must be reported. FYG will inspect the vessel together with you or the charter customer upon its return to determine if the defect is an equipmetn failure or the result of an accident.

Can the yacht be relocated to another charter base?

Yes, with agreement of the partners.

How is the the boat titled such that my fractional interest is protected?

The boat will be titled to an LLC owned by the partners.

Still Have Questions? Give us a Call at 800-537-0050 or Email Us
LET'S WORK TOGETHER
Palm Beach
561-844-1100
Miami
800-537-0050
St. Petersburg
727-553-9551
Key West
800-537-0050
Bahamas
800-537-0050