Sitting at my desk shuffling through the dog-eared bundle of bills of sale, invoices, out of date registration and warranty certificates and other detritus that normally represents the “Ships Papers” of most U.K pleasure vessels, I must inescapable conclude that purchasers of the smallest flats, or old bangers, receive more information and protection in such transactions, than any purchasers of pleasure vessels, irrespective of the crafts value or registration status!
More often than not Surveyors undertaking standard Pre-Purchase Condition Surveys are requested, almost sometimes as an afterthought, to advise as to value, particularly if the vessel is of an unusual type (and thus not capable of being readily valued by reference to sister-ships currently on the market).
The increased value of any harbour side property means that commensurate attention now has to be paid in all transactions to securing the entitlement to the use and enjoyment of the adjoining harbour, in circumstances where other competing organisations or authorities are increasingly looking to exercise sole control.
With many buyers already owning foreign property, the English yacht buying market is increasingly involved in foreign purchases, albeit of British Registered vessels kept abroad (principally the Mediterranean).
During recent purchases the status of certified documents has been raised. In particular, documents which are not original, but which have been certified by a Lawyer as a fair and true copy of the original (otherwise known as “certified copies”) have been proffered on the basis that they are for all practical purposes the same as the original documents.
There are all kinds of boats and all kinds of purchasers, and with cheap flights, google translate, and the reassurance of broadly similar commercial practices throughout Europe, there is no reason why it should not be relatively easy to buy a vessel overseas. There is however a number of key issues which need to be addressed to make the transaction a pleasant and relatively risk free one.
If you are selling (or buying) a business there are various facts that need to be on the table before a deal can be done. Gathering this information is known as Due Diligence.
Handing over a family business to the next generation may seem straightforward but it can create unforeseen problems.
oing into business is like entering into a marriage – two people who have no doubt that they share the same aims and values as one another, commit to a life full of happiness and success together. Unfortunately, this is not always the case and all too often we see once happy and successful business partners fall out beyond repair. This can be due to a number of factors but often because they have a differing of opinion on how to take the business forward; the value of an individual’s contribution or one party’s wish to move on to another project.
Adults normally have three years to bring a claim for clinical or medical negligence and the Courts apply this limit quite stringently unless there are extenuating circumstances.