Liens on a boat

fullkeel7 · #1 (**permalink**) 07-12-2008

I'm thinging of bidding on a bank repo boat that is being auctioned off by the bank's contracted liquidator. I have yet to see the inside of the boat and Monday will be the first possible day to do so. In the meantime and for future reference, I'd like to know if there is a web site I can check to see if there is any outstanding maritime liens registered.

I understand the USCG has such a site, but I have been unable to locate it. Their offical home page has no links to the info. If there is such a site, can anyone point me in the right direction? I do have the boat's name and Monday I'll have the hull number as well.

Also, would the bank have any legal obligation to check for any other liens the PO may have accumulated to legally issue a clean title to the purchaser?
Thanks,

Bob

SailorMitch · #2 (**permalink**) 07-12-2008

Quote:

Originally Posted by fullkeel7

I'm thinging of bidding on a bank repo boat that is being auctioned off by the bank's contracted liquidator. I have yet to see the inside of the boat and Monday will be the first possible day to do so. In the meantime and for future reference, I'd like to know if there is a web site I can check to see if there is any outstanding maritime liens registered.

I understand the USCG has such a site, but I have been unable to locate it. Their offical home page has no links to the info. If there is such a site, can anyone point me in the right direction? I do have the boat's name and Monday I'll have the hull number as well.

Also, would the bank have any legal obligation to check for any other liens the PO may have accumulated to legally issue a clean title to the purchaser?
Thanks,

Bob

has the boat been documented? if nothing else when you inspect it look for 6 or 7 numbers preceded by the letters NO. if it hasn't been documented i doubt the Coasties will have anything. I think what you want from the coast guard documentation office is called an abstract of title. at least call the documentation office. they are most helpful. NVDC Home

if you see stste registration numbers, check with that state for any lien info they may have.

cardiacpaul · #3 (**permalink**) 07-12-2008

If the bank is selling it, its the banks responsibility to provide you with clear title.

AlanBrown · #4 (**permalink**) 07-12-2008

Ask the liquidator and/or bank what what kind of bill of sale they'll be issuing. If they certify, through the bill of sale, that the vessel is free of all liens or other encumbrances, you'll be OK. If something pops up later on, they're on the hook, not you.

Suggest you proceed carefully with your purchase and utilize the services of a good marine surveyor if possible.

fullkeel7 · #5 (**permalink**) 07-12-2008

SailorMitch, yes! That's exactly what I needed...Abstract of Title, thank you. Since I posted this thread, I've found out that there exists 'documented and undocumented liens' as well as "secret liens" that may or may not have any paper work filed. Gad, this can be scary stuff! The NVDC, according to their site, can fax (for a reasonable fee of course) the abstract within 24 to 48 hours. Perfect.

I will check to see if the boat has been documented, the bow of the boat has been obscured from view, so I couldn't tell.

CardiacPaul, since the liquidator was contracted by the bank, I would agree the title will come from them....I'll inquire about any liens with them, thanks to you as well.

Alan, thanks for your input...Monday's going to be a busy day and a survey will be done before hand!

Bob

cardiacpaul · #6 (**permalink**) 07-12-2008

"I've found out that there exists 'documented and undocumented liens' as well as "secret liens" that may or may not have any paper work filed"

ummm, ... uhhh...
how do i put this tactfully....

Unless this particular boat has been the woman of your dreams fantasies and is promising you unfettered access to her loins on a daily basis, run like the frickin' wind.

I don't care if its two nuts with a tub selling services inc, or bank of america, unless there is a clear title before any cash goes from your pocket to theirs, just say no. period

fullkeel7 · #7 (**permalink**) 07-12-2008

CardiacPaul,

Tactful or not, point well taken!

No clear title, no DEAL~Thanks,

Bob

sailingfool · #8 (**permalink**) 07-13-2008

Quote:

Originally Posted by fullkeel7

SailorMitch, yes! That's exactly what I needed...Abstract of Title, thank you. Since I posted this thread, I've found out that there exists 'documented and undocumented liens' as well as "secret liens" that may or may not have any paper work filed. Gad, this can be scary stuff! The NVDC, according to their site, can fax (for a reasonable fee of course) the abstract within 24 to 48 hours. Perfect.

I will check to see if the boat has been documented, the bow of the boat has been obscured from view, so I couldn't tell.

CardiacPaul, since the liquidator was contracted by the bank, I would agree the title will come from them....I'll inquire about any liens with them, thanks to you as well.

Alan, thanks for your input...Monday's going to be a busy day and a survey will be done before hand!

Bob

To tell if a boat is documented you need to looking inside on the bulkheads to see if you can find a documentation number, looking at the bow will tell you nothing. FWIW I've never seen a boat title, doesn't mean some state may not issue such a document, I don't know if any do, I've just never seen one. Some states may type up a page and call it a title, but it will not be like the car ttitle we are all used to....

If you know the name of the vessel you can search online for the documentaion info at Office of Science and Technology.

fullkeel7 · #9 (**permalink**) 07-13-2008

Sailingfool, thanks for the web site. It looks like the boat in question may have been documented in the past. That's the good news (matched boat name and has the same hailing port), the bad is if it's the same boat, they list it with a 7 foot draft....NOT good for Florida waters.

I'll know for sure come Monday, thanks again.

Bob

seawitch1906 · #10 (**permalink**) 07-13-2008

Quote:

Originally Posted by cardiacpaul

If the bank is selling it, its the banks responsibility to provide you with clear title.

that is not a bank resposibility, and silet liens still can exist even if a"title" there.. if is documented will be easier ..but still not bullet proof ...
ignorance is not releive you if some lien pup up .. you should do your own investigation .. there is no free lunch .. if is to good to be ....well then it is most of the time is a bad move..
be ready to fend off or calculate the risk and buy that way ..