thelog.com
Attorney From page 6
the parties — so, our reader will not need to look for a “boilerplate” docu- ment. Attorneys will, of course, draft a contract that is specific to each trans- action, but most brokers use a stan- dard form contract. Those agreements vary considerably from state to state, and even among brokers within a state. In California, however, brokers who
are members of the California Yacht Brokers Association have access to a set of form contracts that have been vetted by attorneys over a period of many years. Other organizations throughout the country have produced similar form contracts, and since many CPYB brokers are members of these organizations, the certification pro- gram is, again, a good place to start when selecting a broker. A yacht purchase transaction involves a long list of concerns, and the form of the purchase agreement is only one item on that list. Brokers will also help with negotiation of the pur- chase price, processing of title docu- ments, evaluating the title history, rec- ommendations for lenders and marine surveyors, working with surveyors to evaluate the surveyor’s findings and negotiating repair allowances related to those findings. Also, in more com- plicated cases, a qualified broker will be able to provide referral to an attor- ney experienced in yacht purchase and sale transactions. Our reader seems interested in pur- suing this transaction without seeking the advice of a broker or an attorney. This is a bad idea, for the reasons pre- viously stated — even if he is consider- ing the purchase of a relatively inex- pensive boat. Further, from a buyer’s prospective,
there is very little advantage to a “pri- vate party” transaction, since the seller pays the brokerage commission with- out any cost to the buyer. Some people believe that the purchase price will be lower without a broker, but this is rarely true. A boat’s value is deter- mined by reviewing recent comparable transactions (“comps”), not by calcu- lating how much money the buyer needs to “net” from the transaction. The purchase of a yacht, like the
purchase of a home, is a complicated transaction that involves many obscure legal and practical considera- tions that may be unfamiliar to the
Editorial From page 6
tour of the island by participating in the program. For details on the educational kayak
tour offered by the Friends of Channel Coast State Parks’ newest program, see the article “Kayaking Program to Benefit Friends of Channel Coast State Parks,” on page 10.
Whether it is sailing, kayaking or paddleboarding, it’s encouraging to know that the public has the chance to get out on the water and experience what so many boaters get to see and do on a weekly – sometimes daily- basis.
The Log • January 17 - 30, 2014 • 7
When looking for a broker, a good place to start is with one who is certified through the Certified Professional Yacht Broker (CPYB)
Program. The program is a joint project of seven different brokerage organizations throughout North America.
parties. The process should begin with a consultation with an experienced broker or maritime attorney. David Weil is licensed to practice law in the state of California and, as such, some of the information provided in this column may not be applicable in a jurisdiction outside of California. Please note also that no two legal situa- tions are alike, and it is impossible to
provide accurate legal advice without knowing all the facts of a particular sit- uation. Therefore, the information pro- vided in this column should not be regarded as individual legal advice, and readers should not act upon this information without seeking the opin- ion of an attorney in their home state.
David Weil is the managing attorney at
Weil & Associates (
weilmaritime.com) in Long Beach. He is an adjunct profes- sor of Admiralty Law at Loyola University Law School, is a member of the Maritime Law Association of the United States and is former legal coun- sel to the California Yacht Brokers Association. He is also one of a small group of attorneys to be certified as an Admiralty and Maritime Law Specialist by the State Bar of California. If you have a maritime law question for Weil, he can be contacted at (562) 438-8149 or at
dweil@weilmaritime.com.
Ask your question online at
thelog.com.
85' CHEOY LEE 1987
Custom Fexas design, powered by twin Detroit Diesels. Four staterooms plus crew. Recent additions include two 32kw generators. Located in Long Beach. $865,000. Ask for MASON STARING.
75' CUSTOM MOTORYACHT 1989
300 original hours on mains. Captain maintained. Three staterooms, on deck galley, walk-around side decks, teak covered aft deck, large sun deck with bi- mini. $888,880. Ask for TODD RITTENHOUSE.
73' CUSTOM POWER CAT 1995
New Zealand built, composite / fiberglass construc- tion. Twin 600hp MTU’s, 2,000+ mile range, 27’ beam, three staterooms. Located in Santa Cruz, CA. $1,325,000. Ask for JIM ELLIOTT.
68' QUEENSHIP 1999
Raised pilothouse motoryacht. Three staterooms plus crew, covered aft deck, hardtop flybridge. 750 hours on twin CAT 3406Es, stabilizers, bow thruster, water- maker. $824,000. Ask for JIM ELLIOTT.
63' HANSE 2007
Custom performance cruiser. Three staterooms, three heads, teak decks. Carbon fiber mast with power winches, retractable bow thruster, 9.5kw generator, watermaker. $675,000. Ask for MASON STARING.
62' LITTLE HARBOR 1982
Performance cruiser powered by twin Perkins diesels. Teak interior, four staterooms, four heads. Electric winches, air conditioning. Located in Newport Beach. $345,000. Ask for TOM CORKETT.
50' VIKING 1991
Powered by twin Detroit Diesels. Three staterooms, three heads. Custom tuna tower, bow and cockpit bait tanks, Rupp outriggers. Located in San Diego. $329,000. Ask for TODD RITTENHOUSE.
46' J BOATS 2000
Original owner. Yanmar diesel with low hours. Cherry interior, carbon fiber mast. New Quantum main and jib in 2012. Never raced, lightly cruised. $348,000. Ask for DENNIS MORAN.
42' ELLING PILOTHOUSE 2001
Only 436 hours on single Cummins diesel for econ- omy and extended range. Two staterooms plus office, bow and stern thrusters, power sunroof, 8kw genset. $299,000. Ask for DENNIS MORAN.
40' ISLAND PACKET 1996
Equipped for extended cruising. Three staterooms, two heads. Raymarine electronics, solar panels, water- maker, 11’ tender with 20hp outboard motor. Located in San Diego. $199,000. Ask for TOM CORKETT.
Marina and Brokerage office: 2101 West Coast Highway Newport Beach, CA 92663
38' HUNTER 2004
Two staterooms with convertible dinette, teak inte- rior, Corian countertops. Yanmar Diesel. Pedestal mount helm, Raytheon radar / auto pilot / GPS chart plotter. $119,000. Ask for WILLIAM PALMER.
www.ardelOpen Monday - Saturday 9 to
5l.com
36' TIARA OPEN 1988
Full tuna tower with controls. Extensively upgraded and updated with new electronics and generator. New interior soft goods and exterior canvas and en- closure. $64,900. Ask for WILLIAM PALMER.
T: 949-642-5735 F: 949-642-9884
yachts-ca@ardell.com
AT OUR MARINA
AT OUR MARINA
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