co-signor and co-title holder on boat

What is the name of your state? WA
I co-signed and have my name on the title to a boat a friend bought 7 years ago. The friend called me looking for money to pay back payments on this loan. They are a few months behind in their payments. I am now married and my husband and I have had nothing to do with this individual or the boat in the 7 years that have passed. I am now being threatned by the "friend" for half of all the maintenece and payments for those past years eventhough during those 7 years the individual lived aboard this boat and didn't maintain it. The said individual is requesting I sign a "quick claim deed" so I lose all interest in this boat. That seems stupid to me at this point. Then I would still be a co-signor and be left holding the bag. He has not filed BK yet and I am wanting to know if and or what options I have or what the various outcomes maybe besides I am left "holding the bag."
Thank You!