I know nothing but I won't let that stop me. :-) In the US smaller
boats are registered with the state. The laws vary from state to state.
Some may not issue a certificate of title. If the state does issue
title, then it would keep track of liens. Larger boats (yachts) are
"documented" or registered with the US Coast Guard. I don't know about
those.
Tom
Of the Swee****er Sea
Denis Marier wrote:
I am a little uneasy to buy a used sailboat.
I do not know of any mechanism that can tell me if there are any monetary
liens against a sailboat. If I buy a boat and pay the seller in full who
will prove that I own the boat. The seller may still owe money to the bank
that makes the bank the real owner.
One of our club member did buy a boat in the US and managed to obtain
clearance from the lending institution. This may not always be the case.
Many are saying that I may have to hire the service of lawyer to get clear
ownership other suggested the service of a broker. In Canada, lawyers are
only responsible for what information they have access or made available to
them. I would appreciate any comments and suggestions
TIA
|