Join Date: Jun 2006
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Curious, can anyone explain to me the process for actual settlement on a used boat. In real estate of course there is a title search, checking for liens and other things that might come back to haunt the new owner later in life, and there is title insurance in case something is wrong the owner won't lose in the end. But what about for a boat ? Is there some similar process for insuring that there are no liens against the boat, that the seller actually has legal title to the boat, etc ? How is settlement done ? Is there some equivalent to title insurance, is it even necessary ?
What are you pretending not to know ?
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