Wolverley – Frequently Asked Questions last updated 14th August, 2017
N.B. these questions are all covered elsewhere on the site, sometimes in more detail.
Q Will I actually own 1/12th of the vessel?
A Yes, the vessel is registered, licensed and insured in the name of Wolverley Owners Club, which is the group of member/owners that you will be part of.
Q Will I be allowed to sell my share?
A Yes, provided you adhere to the provisions regarding resale in our Constitution. Primarily these involve offering it, in the first instance, to club members and only selling to someone who meets our criteria and will agree to our term of use.
Q What will my ‘share’ actually represent?
A As well as 1/12th of the vessel, you will own 1/12th of the club’s assets, such as any residual funds. It will also represents one vote.
Q Will the value of my share depreciate?
A If the condition of the vessel is maintained to a good standard then depreciation is typically very low and sometimes market values actually rise. In similar schemes, many shares have continued to change hands at similar values for a number of years.
Q Does the club control what I can sell my share for?
A No, you can decide how much, or indeed how little, to sell it for. Some people, once they feel they have 'had their money's worth' are content to sell at a bargain price in order to get a quick sale.
Q Can I get a discount if I don’t use all of my allocated weeks?
A No. The costs that you contribute to are only marginally reduced when the boats stands idle, so no discounts.
Q Can I own a share jointly, with family or friends?
A Yes, provided it remains as a whole share with a designated ‘lead’ owner. All joint owners must be registered with the owners club. See also the notes HERE.
Q Can I lend or hire my allocated weeks to others?
A No, absolutely not. Either of these would be in breach of our constitution and would invalidate our insurance, in which case you would be personally liable for any loss.
Q Can I allow my guests/crew to take control of the boat?
A Certainly, but you are responsible for ensuring that they are competent or directly supervising them until they are competent.
Q Can I take Wolverley wherever I want to during my holiday?
A There are some canals where the locks are too short for us to take Wolverley and some rivers and canals that we are not ‘normally’ licensed for (unless members agree to upgrade the licence). Short-term licences may be available (at your expense). There may be a designated cruising region for each season with an expectation to at least return to that region for handover (negotiable with next user).
Q Will I be able to book consecutive weeks?
A If you own multiple shares, then there is a notional, but not guaranteed, entitlement to adjacent weeks. In practice, an owner of a single 'Ordinary' share would rarely get adjacent weeks in peak time (late May to early September). Tt is more feasible with a Special share.
Q As an Ordinary share owner, what can I expect for my 4 week allocation?
A You can reasonably expect to get your main holiday week between late May and early September plus a second week during the 'unrestricted cruising' season (April to October). If required, you can also book at least two more weeks in the 'planned canal maintenance' season (November to March), when Wolverley will normally be back on the Leeds & Liverpool Canal. We will normally position Wolverley so as to give some cruising availability. This winter (2017/18) we expect the range to be between Foulridge and Shipley before Christmas and between Gargrave and Johnson's Hillock after.
Q As a Special share owner, what can I expect for my 4 week allocation?
A You can reasonably expect to get two weeks during the school summer holidays plus a third week during the 'unrestricted cruising' season (April to October). If required, you can also book at least one more week in the 'planned canal maintenance' season (November to March), when Wolverley will normally be back on the Leeds & Liverpool Canal.
Q What happens if the boat breaks down?
A We have 'Gold level' breakdown cover with River Canal Rescue so in most situations you would simply be delayed until they get to you and get you going again, as with breakdowns on the road. For full details of their services, visit their website HERE.
Q What happens if the boat is rendered 'out of commission' due to a serious problem?
A Just as if it was your own boat, your holiday is not protected against this kind of occurrence. As an owner, you share responsibility for resolution of the problem as expediently as possible. If you take out holiday insurance, either annual of for specified dates, it may be possible to cover this risk?