What is the time limit rule should bankruptcy become necessary after the boat is sold?

A boat was purchased by two friends each paying half..$24,000. 2 years later one friend decided to move to Florida. He wanted to take the boat but the other person said no...and he moved anyway. Neither party could afford to buy the other out. The 1st year they split cost of insurance but the party with possession paid for upkeep and storage and the slip at the marina and then con't to pay for everything until present. Over first 3 years the absent party came to Ohi0 and fished with the friend 2 times. The owner in Ohio paid him approximately $1500 over those early years. Difficult times came & he could no longer pay .. obviously to friends dismay. The word from Florida friend was, you must sell. But Ohio friend would not sell. The time period from purchase to present is 8 years. Two years ago it was appraised for $14,000. The Ohio owner uses it very little as his age is now 75 yrs...he must wait on son in law to drive the 3 1/2 hours away to fish with him. His financial situation has deteriorated & bankruptcy may be in his future. The Florida owner has divorced and his wife acquired rights to their half of boat in divorce. Both men's names are on the title. 1st Question: what happens if a buyer was found... what is the time limit rule should bankruptcy become necessary after it is sold. ( Owner with boat possession also owns a stay in trailer all his own, so again bankruptcy rule for sale) If it isn't sold, what happens to boat because of dual names on title, in bankruptcy...how is it handled. 2nd question: If owner in possession does find a buyer and then can't find the wife owner to sign off on the sale...what happens. I think the possession owner does not believe wife owner is entitled to half of sale price. Of course $ 1500 already paid would be subtracted but he thinks since he has covered all expenses over the years she is entitled to less. Example: sale price $10,000. She would ideally receive 5,000 less 1500 = $3500.