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Old 08-15-2013
Minnewaska Minnewaska is offline
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Re: Previous owner wants property tax credit?

The standard YBAA contract has the following language:

8. SELLER’S REPRESENTATIONS: The SELLER warrants and/or agrees as follows:

B. That the YACHT will be sold free and clear of any mortgages, liens, bills, encumbrances, or claims whatsoever.

D. To pay any and all duties, taxes, fees, or other charges assessed against the YACHT by any governmental authority prior to the closing, to hold harmless and indemnify the BUYER and BROKERS against any claims or actions for such fees, and to provide validation of such payments at the closing, upon written request by the BUYER.

(emphasis added)

I'm curious whether these parties used the standard contract, however, it makes common practice pretty clear, doesn't it?

Seller does not owe these in common practice, let alone if the seller did not negotiate them prior to purchase.

Real estate has a different common practice, because real estate can't be moved out of the jurisdiction. It's not applicable.
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Last edited by Minnewaska; 08-15-2013 at 08:30 AM.
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