Dockominium? - Page 2 - SailNet Community
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post #11 of 13 Old 07-25-2009
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Quote:
Originally Posted by sailingdog View Post
I doubt a Grampian 26 is worth enough to use as collateral for a loan on the Dockominium.
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Originally Posted by JimMcGee
I was told it's against banking regs in NJ, so it may vary state to state. Here you have to either take an equity loan against your house, or a loan against your boat - assuming it's worth more than the slip.

Jim

Sailing Dog, that was intended as a general statement about the rules here. But then it seems like everything is more complicated in the People's Republic of New Jersey.

Jim

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The sail, the play of its pulse so like our own lives: so thin and yet so full of life, so noiseless when it labors hardest, so noisy and impatient when least effective." - Henry David Thoreau
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post #12 of 13 Old 08-09-2009 Thread Starter
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Dock insurance?

Dock insurance?

So, I now have the commitment to buy a 45' long slip overlooking the Mystic, CT drawbridge. This is a deeded property orphaned by a failed dockuminium project. Its mine, all mine. I just need help figuring out how to get liability insurance on it.

BTW, very quiet location, even with the wedding reception in the common area, the noise by the dock was much quieter than my stick and dirt house. I was very impressed by the lack of pretension and the shelter of the harbor.

Anyone else have a dock with postage stamp land access? How did you insure it? This will be my liveaboard spot in a few years if things go right. I want to make sure the surrounding marina and I can get along well. This was the town I grew up in, and have a lot of emotion invested in the area. The slip is about 100 yards from the route I used to walk to get to the arcade back in the 80's

Mystic Knotwork
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post #13 of 13 Old 08-10-2009
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check out all local ordinances, any Special Use Permits, and 12 months worth or condo board meeting minutes.

My slip is at one of the few (3?) condo marinas in VA -- no liveaboards allowed per county ordinance. You would want to know that prior to purchase/settlement.

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