If you have to revert to a legal arrangement them perhaps you should not be party to this arrangement?
I would totaly disagree with this! Whilst you may not need to implement it you
should have a legally binding agreement that covers any disagreements. We have this in our group, and though we have never needed to implement it it covers many eventualities including selling shares, availability etc (we have written in a rotating week priority for each member,we have never need to use it, but can see situations where we might need to, so it is there in case we do).