What are the two happiest days in a boat owner’s life? The old adage is “the day you buy it and the day you sell it.” Boat owners know, that there are plenty of unforgettable experiences that happens out on the water that makes the world of boating well worth the investment. So while “Yacht” may stand for “You Are Creating Heavenly Times” ~Adam Samole

It is also true that “Boat” stands for “Bring Out Another Thousand.” Having an experienced attorney who is as passionate about boating as you are can be the difference between spelling boat with one “T” instead of two, where the saying becomes “Bring Out Another Ten Thousand.”

In Florida, it is customary for a yacht broker to take ten percent of the purchase price from the seller at closing. Even then attorneys may need to get involved due to some unforeseen circumstance that the broker may have missed. Many successfull business minds, have excelled their business by cutting out the middle man. Florida Statute 326.004(3)(b), provides that a yacht broker’s “license is not required for: an attorney at law for services rendered in his or her professional capacity.” Of course since you are represented by an attorney in the transaction, you can be assured that we have you best interest at heart.

Transactions involving pleasure boats, yachts, and other types of large marine vessels can be challenging and exhausting. Taxes, regulatory documentation, financing, ownership structure, and insurance are some examples of items that should be considered before purchasing your next vessel so that your dream doesn’t become your nightmare.

Some of the services that we provide and can advise you on include:

  • Purchase and sale agreements

  • Review of proposed terms and conditions

  • Registration and regulatory compliance

  • Ownership structure

  • Financing and escrow concerns

  • Employment agreements

  • Ownership succession plans

  • Fractional ownership agreements

  • Warranty claims

  • Broker representation

The ability of our attorneys to work collaboratively with various practice groups and to collectively focus their efforts toward achieving each client's goals is a priceless asset. Our maritime law group works closely with lawyers from many of the firm's other practice groups to develop integrated strategies and solutions to the challenges at hand.

To discuss a potential boat purchase or another type of maritime law concern — contact us to arrange an initial consultation.

Purchase and Sale Process of a Vessel

      Tampa Bay Area: (727) 697 - 7257 

            Miami Area:  (305) 204 - 0411

​​​​         Mindrup & Samole, PLLC