All The Teak...
All of the teak on the boat needs to be redone. Teak can last forever - with proper care. The PO told me it broke when his wife boarded from the swimstep (also broken). She was.... ahem.... a little on the heavy side. The teak is all varnished and showing wear, which would then need to be sanded down, varnished, varnished, varnished... every year or two. Probably every year where we leave in humid-all-year-long Slidell, Louisiana. Our water here is brackish, so not as bad as salt. But still.
In my experience with teak, if I use teak oil on it, which still requires the sanding down this first time, the maintenance changes to spritzing it down with a bleach/water mixture, letting it sit for 10min or so, wipe it down, and reapply the teak oil.