Why to Use a Lawyer in Boat Purchase and Sale? - Luxury Law
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Why to Use a Lawyer in Boat Purchase and Sale?

Taking advice from a lawyer in boat purchase will protect your interests within a complex vessel transaction

Buyers and Sellers must be cautions when a non-attorney provides legal advice, since the eye of an attorney, especially in boat purchases, is quite necessary. However we do maintain that a yacht buyer or seller should use the services of a broker too.

Lawyers and Brokers have a different way to look at the transaction, and both technical and legal point of views are strictly important. All professionals involved in a yacht transaction are valuable.

It is correct to say that Brokers have access to many listings and can narrow down your choices to yachts that best fit your budget and expectations. Of course we do not have to forget that brokers work on commission, and it is in their best interest to make the transaction work.

A good Lawyer can give you piece of mind especially in transactions that are not covered by a form contract, or whether the form contract needs amendments. The language of these contracts is often quite ambiguous that litigation is almost certain to follow in case of problems.

Contract draft is not the only phase where a valuable lawyer is needed. There are other important steps which need the serious attention of a legal professional, such as:

  • Negotiation and offer
  • MOA (Memorandum of Agreement)
  • Liens and Mortgages
  • Legal consideration before proceeding
  • Deposit payment
  • Assistance during Condition Survey
  • Tax Advice
  • Insurance Contract
  • Closing and Delivery
  • Flag Registration

Contact Luxury Law at info@luxury-law.com or by Telephone or WhatsApp at +39 327 12 60 285 for your initial consultation.

You might also wish to know:

What to do if you are involved in a yacht accident

Temporary admission of yacht in Italy

How to buy a yacht at auction

How to buy a boat in Italy