THE FRACTIONAL OWNER MAY USE THE YACHT UP TO 12 WEEKS PER YEAR PER 25% SHARE.
Here are the key points and details:
- Owners receive up to 12 weeks of access to their yacht or a like yacht each year.
- Owners may Advance Book four weeks per year: 2 weeks in high/mid and 2 weeks in low season annually.
- Advanced Booking means this use can be booked as far in advance as the End of Contract (EOC) date.
- Owners may Short Notice book inside 7 days an additional 2 weeks in high/mid and 2 weeks in low season annually.
- Owners may trade each high/mid week for two low weeks, which would allow a total use of 12 weeks/year if all weeks were used in low season.
- If an Owner plans to use the full allotment of time in high season, he, or she, could have six weeks per year with a maximum of three weeks of advanced booking use and three weeks of short notice use each year.
- Owners must use the time allocated each year or lose it.
Here are rules regarding owner usage related questions that may arise:
- Owner(s) must be aboard the yacht at the time of use. An Owner is considered to be the person buying the yacht. If an individual buys a yacht, he or she, is considered an Owner.
- If a partnership is formed to buy a yacht each partner has a share of Owner privileges. Yachts owned in partnership structures share the use benefits between partners. We require an official operating agreement naming the partners of the partnership structure to allow the use by multiple owners.
- The contractual agreements include a Schedule A to the management agreement and it explains the Owner conditions in depth.
- If an Owner wishes more allotted time or more advanced booking this can be purchased at 20% off the published rate.