Please select a question.
• What is a dockominium?
• What are the advantages of owning your own slip?
• What type of amenities are available with ownership?
• What form of ownership is available?
• Are there property taxes?
• What length slips are available and what do they cost?
• Why consider purchasing a dockominum now?
• How does the dockominium group serve its customers?
• Do dockominiums meet the requirements for 1031 tax deferred exchanges?
You can also download PDFs of all the questions here:
What is a dockominium?
The concept is much like owning a condominium on land except that it's a home for your boat on the water.
What are the advantages of owning your own slip?
The purchase of a dockominium provides the discriminating owner with multiple benefits, including, but not limited to, building equity in a rapidly dwindling resource as demand continues to outstrip supply, having an investment in waterfront property whose value continues to increase over time, provide rental income when not in use, offer possible tax savings (consult your accounting, legal and/or financial advisors), assure control of expenses as rental rates climb even higher, and most importantly, secure for you and your family a permanent home for your yacht and the lifestyle that it provides.
What form of ownership is available?
Ownership of deep-water dockage is in fee simple title with a warranty deed framing ownership of the submerged land and air rights associated with the slip forever. Similar to owning a condominium, all aspects of common and limited common elements are detailed in the association documents provided prior to purchase. Ask your dockominium group representative to explain how submerged land leases are treated vis a vis ownership.
What type of amenities are available with ownership?
Many dockominum facilities offer a club like atmosphere to you, your family and friends. They may include swimming pools, tennis courts, showers and restrooms, laundry facilities, picnic areas, assigned and guest parking, cafes, lounges, ship's stores, car and/or bicycle rentals, complete fuel dock(s) (both gas and diesel), pump-out stations at each slip, as well as complete maintenance programs, staffs, facilities and services for your yacht.
Are there property taxes?
Yes. Taxes must be paid like any other real estate that you might own. Please consult with your dockominium group representative for a current quotation regarding estimated appraisal values and millage rates for the particular locale where you are purchasing. Outside of the United States, property and other taxes may differ depending on the country. Please consult with your group associate.
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