Re: Why give the payoff amount?
If you owe money on the boat, then you "technically" don't own it. A marine title company wiil issue a satisfaction of mortgage document to you when the bank note is paid off. Sometime the bank is listed as the first lien holder in the ownership chain. While you may have more equity in the vessel, the bank still has a fidicuary interest and will need to be paid off, usually first. Remember, he who gas the gold makes the rules.
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
"Your dreams minus your doubts equals your net worth"
Life is a short journey, filled with emptiness and pain. Get all the sailing and booty you can.