Why to Use a Lawyer in a Maritime Purchase and Sale? | Luxury Law
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Why to Use a Lawyer in a Maritime Purchase and Sale?

Protecting Your Interests in Yacht Transactions

Buyers and Sellers must be cautions when a non-attorney provides legal advice, however I mantain that a yacht buyer or seller should use the services of a broker.

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.

The right Lawyer can give you piece of mind expecially 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

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