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JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 12188
Experience:  30 years as a practising solicitor.
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Co own boat. If person dies do I automatically get boat or

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Co own boat. If person dies do I automatically get boat or does it go to his estate.  Been asked to accept £2500 so that he can say has some assets; as he doing his will.  He has cancer and believes he is dying. Once to get his estate into order but as am co own the boat with him, once to buy me off with £ 2500.  Am not happy as he is also being verbal obsusive but was told part of his illness. We are not married but leave in the same cottage.  Once he was my partner but now just friends. He doesn't own the cottage.

JGM
Thank you for your question.

Unless it was agreed that the boat was owned by the two of you and to the survivor, then if he does, his share of the boat would form part of his estate and pass in accordance with his will. If he were to leave his share to someone else then the boat may have to be sold to realise the legacy. However, it would be open to you to agree that you would get the boat on his death if you were to buy it from his estate.

In general terms whatever can be agreed will be binding on the executor but if you are simply joint owners at the moment the boat would not automatically pass to you.

Happy to discuss further.

Please leave a positive response so that I am credited for my time.
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Customer: replied 3 years ago.


I bought the boat for £ 18500 in 2002. Since then all the bills eg. mooring, boat licence, new canopy's etc have been bought by me and have receipts etc. He has maintained it but bills etc have been paid by me. On the 22nd March I paid £856 mooring fees and £ 251 boat licence. He says that was a gift. Am a pensioner so how can £ 1000.00 be a gift.
I can't answer that without knowing all the facts. Either the boat is yours as you appear to have paid everything for it or it is a joint venture and he is liable for half the upkeep. The fact you are a pensioner is not really relevant. It is the agreement between you that is relevant.
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Customer: replied 3 years ago.
So items that are joint owed not necessary will go to me unless he states in his will. If he doesen't does it go to probate if hasn't left it to anyone?
That is correct. If he makes no will the property passes to his intestate estate and would generally go to his closest relatives.
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