Boat Co-Ownership Agreement Template (Malta)

Updated on 13 August 2026

Co-ownership of a boat in Malta is governed by the general law of co-ownership in the Civil Code, Articles 489 to 494, which sets the co-owners' rights and obligations while the co-ownership lasts, and Articles 495 onwards, which govern how it can be brought to an end. The basic principle is that the co-owners' own agreement prevails unless the law expressly says otherwise — and where shares are not otherwise proved, they are presumed equal.

That default of equal, undivided shares with no usage rota, no budget and a right for any co-owner to seek partition is exactly what makes a private agreement necessary. This template sets out the terms the Civil Code leaves to the co-owners to agree — usage, budget, insurance and a workable exit — rather than leaving the default rules to govern by omission.

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Boat Co-Ownership Agreement

Date:
Co-owner A:: — %
Co-owner B:: — %

The co-owners own the vessel together in the shares recorded above, and have agreed how they will share its use, its costs and its eventual sale, in place of the default provisions of the Civil Code on co-ownership.

1. Use and booking

The co-owners share use of the vessel by: .

2. Budget

The agreed annual budget is . No owner may commit the others to spending more than on any single item without written agreement, except for emergency repairs needed to keep the vessel safe or afloat.

3. Insurance

The vessel is insured with . Every co-owner must be a named insured.

4. Transfer and exit

An owner wishing to sell their share must first offer it to the other owners at the price given by , before seeking partition of the co-owned property under the general law.

5. General

This Agreement is governed by the laws of Malta.

Co-owner A

Date:

Co-owner B

Date:

Fix the shares, since the law presumes equality otherwise

Where the shares of co-owners are not otherwise proved, the Civil Code presumes them equal. This template records each owner's actual share and contribution explicitly, so the presumption never has to be relied on.

Put the usage rota in the document

The general law of co-ownership says nothing about who gets the boat on a given weekend. This template offers a named booking method, a rule for peak weeks that alternates year by year, and a maximum consecutive-days limit.

Budget the running costs

This template sets an agreed annual budget, a joint account, a spending threshold requiring consent, and a reserve fund for haul-out, antifouling, survey and engine work.

Give the arrangement a workable exit before partition becomes the only option

Any co-owner generally has the right to seek partition of co-owned property, which for a boat effectively means a forced sale if the co-owners cannot agree otherwise. This template adds a right of first refusal at an agreed valuation and a buy-out timetable, so a disagreement is resolved between the owners first, rather than defaulting straight to a court-ordered partition.

Clause-by-clause guide

The vessel and shares: Identifies the boat and records each co-owner's share, rather than relying on the law's presumption of equality.
Usage and booking: The booking method and the rule for peak weeks.
Budget and reserve: The agreed budget, joint account, and spending threshold.
Insurance: One policy naming every co-owner.
Transfer and exit before partition: A right of first refusal at an agreed valuation, intended to resolve an exit without resorting to the statutory partition right.

Malta compliance checklist

Co-ownership of a boat is governed by the general law of co-ownership in the Civil Code.

Record the shares explicitly
Where shares are not otherwise proved, the Civil Code presumes co-owners' shares to be equal. Record the actual agreed shares in the co-ownership agreement.
GTG Legal — co-ownership under Maltese law
Understand the co-owners' agreement generally prevails
The basic principle of Maltese co-ownership law is that the co-owners' own agreement governs, unless the law expressly provides otherwise — which is what makes a written agreement doing more than the bare Civil Code articles worthwhile.
Know the partition right exists as a fallback
Any co-owner generally has a right to seek partition of the co-owned property. A workable buy-out and exit mechanism in the agreement is intended to resolve disagreements before that right is exercised.
Name every co-owner on the insurance policy
A policy naming one owner may leave the others uninsured when operating the boat.

How to complete the boat co-ownership agreement

Record the shares. State each co-owner's share and contribution explicitly.
Agree the usage rota. Set the booking method and the rule for peak weeks.
Set the budget. Agree the annual budget and spending threshold.
Record the insurance. Name every co-owner on the policy.
Agree the exit terms. Set the valuation method and buy-out timetable, then sign.

Frequently asked questions

What happens if we never record our ownership shares?

Where shares are not otherwise proved, Maltese law presumes co-owners' shares to be equal — so if that is not what you actually agreed, record your real shares in writing.

Can one co-owner force a sale under Maltese law?

A co-owner generally has a right to seek partition of the co-owned property, which for a boat effectively means a forced sale if no other resolution is agreed. This template's buy-out and right-of-first-refusal terms are designed to resolve an exit between the owners before that right is used.

How should we split use of the boat?

The general law of co-ownership does not set a usage rota — agree one yourselves: a booking method, a rule for peak weeks, and a maximum number of consecutive days.

Whose insurance covers a shared boat?

One policy naming every co-owner — a policy in one name only may leave the others uninsured when at the helm.

Do we need a notary for a boat co-ownership agreement?

Not generally required for a private agreement about a boat, unlike a marriage contract or certain property transactions — but take advice if significant value or finance is involved.

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Disclaimer

This template and guide are for general information only. They are not legal advice, and no Maltese-qualified lawyer has reviewed or approved them. Confirm the current Civil Code provisions and take advice before relying on this document.