Bopper
Contributor
Some friends and I were discussing buying a boat as a partial ownership arrangement. Three of us would each buy 1/3rd ownership and split the various ongoing expenses that come along w. owning a boat. I was discussing this w. another friend who was not part of the buying arrangement, and told him I was thinking about charging fellow dive friends each time we went out (would never net a profit though. Not even close). So in a sense I would be recouping some of my outlays for the expense of the boat. He told me that under maritime law, as soon as any form of compensation or remuneration is given to a boat owner, that boat now becomes a boat for hire. And I guess there are additional liabilities and expectations placed on a boat for hire? Is my friend correct? If not, at what point does a boat cross a legal threshold as to whether you're simply taking a pleasure boat ride w. a friend or going on a chartered boat? What are the ramifications of being classified as a boat for hire?
Thanks!
Thanks!