joint ownership and seizure

[Novio]

Has anyone ever heard of a boat being seized in a foreign country because the man (and registered owner) became incapacitated, and the girlfriend was not allowed to take possession of the boat because she was not the registered owner?

My partner and I are debating how to document ownership on my soon-to-be-purchased Tayana to avoid nightmare scenarios.

Any advice?

[s/v Faith]

A "limited power of attorney" should cover it.  I sometimes get "captains letters" on deliveries which basically function the same way.  A limited power of attorney can be written to give specific legal authority to a person for specified functions and for a limited period of time.

I once was named as on a limited power of attorney to complete a realestate transaction for a friend (did not wind up using it) so I see no reason one could not be used for the purpose you describe.

[Tim]

A "limited power of attorney" should cover it.  I sometimes get "captains letters" on deliveries which basically function the same way.  A limited power of attorney can be written to give specific legal authority to a person for specified functions and for a limited period of time.

I once was named as on a limited power of attorney to complete a realestate transaction for a friend (did not wind up using it) so I see no reason one could not be used for the purpose you describe.

I agree, I think that would cover it. I would bet in a foreign country all the are would be worried about is their liability if they released it to someone not authorized. Therefore any document like that should suffice.

[CharlieJ]

I can't recall the correct name for it, but there is a legal form that you can use to name the other person as the one who has rights to the boat. We looked into it when going to the Bahamas, but just registered the boat in both names.

But there is a correct legal document for this

[Novio]

Thanks, folks, good advice.

Five cosmic points will be awarded to whomever can come up with the name of that legal document Charlie J mentions.

[rorik]

Something like this?

http://www.tpwd.state.tx.us/publications/pwdforms/media/pwd_790_a0900_right_of_survivorship.pdf

[s/v Faith]

I think it is a limited power of attorney that you want.

The form above is to have a Texas title amended....  In financial transactions it is know as "JT" or Joint Tennants"....  You could accomplish that by adding your girlfriends name to the title, but keep in mind that if you do that and then do not stay together she may have legal claim to the boat....

[CharlieJ]

Found it- it's called "Joint Tenancy"

"A type of ownership of real or Personal Property by two or more persons in which each owns an undivided interest in the whole.

In estate law, joint tenancy is a special form of ownership by two or more persons of the same property. The individuals, who are called joint tenants, share equal ownership of the property and have the equal, undivided right to keep or dispose of the property. Joint tenancy creates a Right of Survivorship. This right provides that if any one of the joint tenants dies, the remainder of the property is transferred to the survivors. "

[Frank]

You're right CJ. Then there is "tenants in common" where by upon death...the shared property goes to the "estate" of the person...not autimatically to the other co-owner.  Seems complicated for boating....but "poop happens"   :o

[s/v Faith]

Um....              .

[CharlieJ]

Would only be a problem if foreign, and something happened to the owner- usually the husband. Gives the wife the authority to remove the boat say, back to the states.

Stateside, regular rules apply.

[CharlieJ]

On further reflection, I'm not sure that's the thing. What we looked at was a letter, notarized, giving the other person rights as owner IF the other was unable.

I'll keep digging

[rorik]

From the Pardeys:

http://www.landlpardey.com/limited-power-of-attorney.html

From the USCG:

http://www.uscg.mil/legal/la/Attorney%20Resources/Powers%20of%20Attorney%20(IRP-Section%202)/Powers%20of%20Attorney%20Worksheet.pdf

[Tim]

From the Pardeys:

http://www.landlpardey.com/limited-power-of-attorney.html

From the USCG:

http://www.uscg.mil/legal/la/Attorney%20Resources/Powers%20of%20Attorney%20(IRP-Section%202)/Powers%20of%20Attorney%20Worksheet.pdf

Yep

[Novio]

Excellent. Exactly what I needed. Thanks very much. Five cosmic points to all.

[CharlieJ]

Thanks Rorick

[David_Old_Jersey]

My understanding is that a Power of Attorney (Limited or full) stops at death (albeit legal jurisdictions may differ - no idea!).........so a simple Letter of Authority from the Owner (Man) to another person (wife) to have possession of and to use would be sufficient only whilst he is still alive..........after that the boat becomes part of his estate and gets dealt with according to whatever rules apply, with a boat in a foreign country that will be the local rules!..........just because you have a valid Will at "home" that passess ownership over does not automatically make it valid everywhere else - a process to go through for that ............albeit in practice likely that officialdom will not be checking whether the owner (who has signed a POA / Letter of Authority) is still alive!, so likely scope to dash "Home" with the boat.

This internet legal advice is of course worth every penny you paid for it  ;D.

But all that something to think carefully about in advance!

[Tim]

My understanding is that a Power of Attorney (Limited or full) stops at death (albeit legal jurisdictions may differ - no idea!).........so a simple Letter of Authority from the Owner (Man) to another person (wife) to have possession of and to use would be sufficient only whilst he is still alive..........after that the boat becomes part of his estate and gets dealt with according to whatever rules apply, with a boat in a foreign country that will be the local rules!..........just because you have a valid Will at "home" that passess ownership over does not automatically make it valid everywhere else - a process to go through for that ............albeit in practice likely that officialdom will not be checking whether the owner (who has signed a POA / Letter of Authority) is still alive!, so likely scope to dash "Home" with the boat.

This internet legal advice is of course worth every penny you paid for it  ;D.

But all that something to think carefully about in advance!

You are right, in the case of death it would stop. But since the original post was about being incapacitated, I would think a durable power of attorney would suffice.

That said, joint ownership would be best unless there was a specific reason for not, in which case perhaps they should not be cruising together  ;) ;D