Thousands of verified Experts are ready to answer your specific questions 24/7.
Satisfaction is guaranteed and you pay your Expert only if you are satisfied.
Just type your detailed question and click "Get an Answer."
In minutes you'll get a response from an Expert. You can always ask follow-up questions.
Happy with your answer? Just click "Accept" to pay your Expert.
My ex-husband and I own a power boat together both of our names are XXXXX XXXXX registration so in the event of death either one could sell the boat. I do not use the boat my name is XXXXX XXXXX it for the event of the death of my spouse to pay me back for money owed me on the boat. We keep current insurance on the boat but my concern is I own two homes and he owns nothing should an accident occur we are insured but I am concerned about being sued since I have other assets. I want to take my name off the registration but still want possession of the boat if he should die. What would be the best way to do that? He is willing to cooperate in any way necessary in order to make it legal. We are in the state of Nevada.
State/Country of Question: Nevada Already Tried: Nothing.
The best way to do that would be for you to take your name off of the registration and have your ex-husband execute a security agreement whereby you have a security interest in the boat. You would then file that with the records office so that should he ever try to use the boat as collateral or dispose of it, he would be stopped from doing so. IT would be like placing a lien on the boat.
Attorney
Negotiate, Draft, and Review many complex commercial agreements each year.