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Default Buying a boat in the USA

On Mon, 23 May 2011 20:55:19 -0700 (PDT), Hoges in WA
wrote:

Hi. I have two questions if anyone with experience in this can help.
1. Does the seller pay the broker's fee?
2. What sort of title check do I need to do to make sure it is clear
of encumbrances? i.e. whose services do I engage?
3. If the boat is registered as a US vessel, and I am not a US
citizen, how long do I have to change this or who should I contact to
find out?

Thanks
Hoges in WA (who's actually in Nevada at the moment)



As for #3 I believe that what you are looking for is a Document of
Removal, whish should be available from the Coast Guard. Or see
http://www.marinetitle.com/vessel_do...urpose_For ms
who also look as though they will do your paperwork for you..... for a
fee of course.

If you plan on registering the vessel in a foreign country, i.e., not
the U.S., I believe that you will need a notarized bill of sale, proof
that the individual who issues the bill of sale is the legal owner,
and a de registration certificate showing that the boat has been
de-registered from wherever it was registered. I always ask for a
notarized certificate on non-encumbrance as proof that there is no
outstanding liens against the vessel.

The de-registry certificate is not always issued - Singapore does not
issue one for yachts carrying what they call a harbor registration,
apparently similar to the state registrations issued in the U.S. but
do try to get something showing that it is no longer registered.

If you can get it a Builder's Certificate is also useful when it comes
to proving size and displacement of the vessel and can sometimes be
used to "prove" that your boat is too small to fit in the high rent
slips at the marina.

Different countries have different requirements but I have been asked
to show all of the above at one time or another.


Cheers,

Bruce
 
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