Quote:
Originally Posted by paulk
This is why banks like documented boats better. Liens against a documented vessel all show up with the Coast Guard: one stop shopping. Liens against state titles... you would have to check all 50 states to see if the boat was ever registered there: big hassle. If you can keep the vessel documented, it's much easier.
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I already explained why I cannot keep this boat documented, even if I wanted to. Your advice is appreciated, but not followed in this case.
Let me ask you out of curiosity, how many 25 foot vessels have you seen documented? Do you really think this little boat is 10 net tons?
For Sailingdog's benefit:
"9. SELLER shall, on or before the date of closing, provide the Closing Agent with all necessary title documents, bills of sale, and releases, as may be required to convey title free of liens and encumbrances to PURCHASER. The SELLER shall pay all taxes and penalties due up to and including the date of closing. In addition, any fees required to restore SELLER’S title documents and to discharge any SELLER’S obligations at closing shall be paid by SELLER."