Q1: Is it necessary to have relationships with the other co-owners of my boat?

It is not necessary as the shared ownership relationships go through Movado Marine, the role of which may be compared to the one of a manager of an apartment building,

On the other hand, friendship may arise between some co-owners who might consider to cruise together, consequently increasing their usage time of the yacht;

Q2: What is the duration of the Movado Marine Multiproperty programme?

It is « a priori » set to 10 years ; by that time the yacht will still be in a good condition and might sell at a correct price (resale objective : a third of the new boat price): the net proceeds will then be shared between the co-owners pro rata their ownership shares.

The syndicate will then be either terminated or maintained for a new boat to be purchased;

The co-owners may decide to anticipate the resale of the yacht (before the 10th anniversary) or to postpone it, those decisions being voted during the annual meeting at the majority rule according to the shared ownership charter;

A co-owner may decide at any time to sell his share of ownership, either directly or indirectly via Movado Marine which will propose it as an opportunity of a second hand boat share (highly desirable as well);

Q3: How is the usage time allocated to the co-owners? what is the typical planning?

When expressing your wishes (using the « contact » form of this web site or by telephone) you are invited to state your preferences regarding the usage weeks during the peak summer season (July, August) and for the rest of the year, within the limits set by the desired ownership share (11 weeks for a quarter share, 15 weeks for a third share and 23 for a half share):

During the peak season, you enjoy your boat either 2, 3 or 4 weeks (depending on your share) which can be chosen amongst:

For the quarter share, the first 2 weeks (28,29 or 32,33) or the last 2 weeks (30,31 or 34,35) of July or August;
For the third share, the first 3 weeks of July (27,28,29) or the last 3 weeks of August (33,34,35) or the 3 weeks in between (30,31,32);
For the half share, the 4 weeks of July (28,29,30,31) or of August (32,33,34,35);

For the rest of the year, you enjoy your boats

For the quarter share, one week per month,
For the third share, every other 2 weeks,
For the half share, every other week or every other fortnight.

Q4: How long does it take to create the shared ownership syndicate for my boat?

New Boat: once your wishes are expressed, that time pretty much depends on the number of potential co-owners already on the waiting list for that boat in the desired area, and on the relative « commercial success » of that boat. This latency is thus variable but Movado Marine commits to do its utmost to send you a firm proposal as soon as possible!

Second Hand Boat: in general, the original owner looks for one co-owner only (often on a 50/50 basis) so that as soon you are decided to buy that share the overal process will be quick and you will enjoy cruising on your boat a few weeks later.

Q5: What happens if my boat suffers a major problem just before my usage slot, especially during the summer peak period?

Should this occur, Movado Marine would do its best to have the problem fixed very rapidly.

Should you still be impacted, an internal “usage insurance fund” (proposed in option to all Movado Marine co-owners) would be used to rent a similar yacht for you to still enjoy your summer cruise!

Q6: What are the benefits for the syndicate to be registered as a "Société Civile"?

This gives a better legal protection of the co-owners amongst themselves, particularly in case of a law suit of one of them having some unpaid debts....

This "Société Civile" status, being an alternative to the simple maritime co-ownership one, is proposed by Movado Marine as an option (4000 Euros per syndicate). But in 2004, launch year of the Movado Marine Multiproperty solution, this option is given free of charge to the syndicate created this year!