Hi folks,
I just finished negotiating on CS 36
http://www.yachtworld.com/core/listi...g_id=1619&url= and I have two questions about title and documentation. Since I am not using a boat loan secured by title I can't rely on a bank to make sure the title is above board and there are not any liens etc. on the boat.
What should I do to make sure that the title is "clean"?
The second issue relates to documentation. She is documented, but if I hold the title after purchase, I won't be able to maintain the documentation as I am not a US citizen. My wife, who is a US citizen says that she would prefer not to hold the title. She works in the medical professions and for liability reasons she prefers to have major assets in my name. She also feels that since I am paying for the boat I should hold the title.
What are the pros and cons of maintaining the boat as a US documented vessel and is it worth doing despite my wife's misgivings?
BTW thanks to all the folks who helped out with my last question on sea trials. I wound up keeping a 10% escrow until the sea trial. The survey is scheduled for the end of next week.
Thanks for all the help
Otaga05