Apostrophes in a list of people
Imagine that a boat belonged to three separate people, who each paid an equal share for the boat. Which one is correct?
"That is Kyle, Joey, and Mark's boat."
"That is Kyle's, Joey's, and Mark's boat."
I am oversimplifying the issue for the purpose of clarification, so I understand that in the example I could easily say "That boat belongs to Kyle, Joey, and Mark." What I am actually writing is a lot more complicated, so I am looking simply for the answer of the apostrophe issue in the hypothetical situation above.
Solution 1:
If the boat is posssessed equally by the three, you only need put the apostrophe on the last person's name.
E.g., John, Jacob, and Mary's boat.
The possessive, in a list, on the last person shows collective possession of the group.