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Posts: 512
| hey all, this is new to me because in indiana you need to have a title for the boat and a title for the trailer, i guess some states dont have this though, so my questions are, how do you know if the seller actually owns the boat and how do you know if theres any outstanding loans on it?
thanks |
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Posts: 512
| anyone? bueller?? bueller??
should i have this in the general discussion maybe?
just worried, dont want to buy a boat that has a lien against it!
thanks |
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Posts: 1184
| Dave T. - 7/26/2020 5:13 PM
hey all, this is new to me because in indiana you need to have a title for the boat and a title for the trailer, i guess some states dont have this though, so my questions are, how do you know if the seller actually owns the boat and how do you know if theres any outstanding loans on it?
thanks
You don't.
Sorry I can't be of much help here, as I didn't realize there were states that didn't title boats. I bought my last boat from a guy who had recently purchased it without telling his wife. It's a tiller, and she wanted something that could be used pulling kids around, so he sold it to me. He had done a title transfer, but he hadn't received the new title in the mail yet. I let him hold a $500 deposit on it, while we waited for the title to come, before completing the deal. Wasn't comfortable enough to not have a clear title in hand. |
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Posts: 188
| A lot depends on how old the boat is. In inherited an old center console from my Dad that had no title. Since the boat was registered in Washington State I filed an affidavit with the state and got a WA title which I than transferred to MN before I sold it. Next example - best friend inherited a old alumacraft from his dad. Boat was so old it did not have a serial number. Per state of Wisconsin we took steel stamps and made our own number. He than registered boat in Wis. and now has title. If this is a boat was manufactured in the last 20 years it should have a title. Stolen boats are rarely recovered so I would be wary |
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| There are 100's of 1000's of boats out there with titles. Why chance it on a non-titled boat? |
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Posts: 228
| Arkansas does NOT title boats! Only trailers!! I sold my 2006 Ranger Reata 1850VS without a boat title!! I provided the boat registration and trailer title with the sale!
Bob |
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Posts: 1200
Location: E. Tenn | bob1 - 7/27/2020 10:06 PM
Arkansas does NOT title boats! Only trailers!! I sold my 2006 Ranger Reata 1850VS without a boat title!! I provided the boat registration and trailer title with the sale!
Bob
Same goes for TN.. |
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| I think the OP's concern was how he can make sure there is not a lien against the boat.
I would call your bank and talk to a consumer lender. There should be a way to check by VIN. That can be a big problem. If a lender has a lien on the boat, they own it.
I took a graduate class in the evening one time and it turned out the professor had bought a fairly expensive sail boat. Problem was the bank I worked for had a large lien against the boat. He had to go back against the dealer that sold it and cost him a lot in legal fees. He got his loan through our biggest competitor and they kept telling him we should just release the lien. Yeah, no, don't work that way. |
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Posts: 2687
Location: Hayward, WI | When I bought my last boat the title couldn't be located either. I think it was paid off but the bank needed proof of that or something. I don't remember all the details. It was a bit of a pain for both parties, but not too bad either. Both previous owner and myself had to meet at a bank together to get the checks cut and everything straightened out, but it was a boat that I wanted and was worth the little hassle we had to deal with.
I'd call your bank/loan office, or maybe DNR and ask them what needs to happen. |
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Posts: 512
| yep, thats the deal, its in Tennessee and they dont require titles.. i talked to my bank, they said they cant help or find out if theres a lien on a boat, so not sure what to do now.. i would think there would be an easy way to find out besides trusting the seller... not sure i can afford the boat let alone the boat and anything that is past due!!
thanks guys... |
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| Quick search of TN state regs. does show that only Coast Guard registered boats have a title. It states that any liens against other boats would be recorded through the UCC, Uniform Commercial Code. The state has a searchable data base for those liens. You would need the sellers first and last name to search. I did a quick search using my name and the files I found only showed that there was a lien by a credit unit in that guys name. Did not give amount or what lien was on/for. But, if you know the sellers name, you could see if they have a lien and who it is filed by. Not a great system, but appears to be all they have. Given the cost of modern fishing boats, seems kind of an antiquated system to me, more like you would have had in the day of wooden row boats. |
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Posts: 512
| North of 8 - 7/28/2020 4:11 PM
Quick search of TN state regs. does show that only Coast Guard registered boats have a title. It states that any liens against other boats would be recorded through the UCC, Uniform Commercial Code. The state has a searchable data base for those liens. You would need the sellers first and last name to search. I did a quick search using my name and the files I found only showed that there was a lien by a credit unit in that guys name. Did not give amount or what lien was on/for. But, if you know the sellers name, you could see if they have a lien and who it is filed by. Not a great system, but appears to be all they have. Given the cost of modern fishing boats, seems kind of an antiquated system to me, more like you would have had in the day of wooden row boats.
hmm, no records found under that search... like you said, very antiquated.. should be able to just put in the hull number and see if theres anything owed on it and be done with it... lame...
Edited by Dave T. 7/28/2020 8:13 PM
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Posts: 359
Location: SW Ohio | It’s not just boats that have problems with liens. I bought a 2003 GMC Sierra in Dec 2005. I paid it off early around 2009. Fast forward to Dec 2017 when I’m trying to buy a new 2018 truck. I can’t trade it because the bank never released the lien that I paid off 8 years earlier. Took over a week to get the paperwork straightened out. At least the bank that hadn’t released the lien was still my bank or it would have taken longer. What I thought was my title was actually just a copy from OH. |
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Posts: 228
| I took out a loan for a car for my son! Arkansas does not have titles for boats. They took the title for the trailer for collateral !! Have since paid it off and sold the boat in March!
Bob |
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Location: 31 | curleytail - 7/28/2020 7:27 AM
When I bought my last boat the title couldn't be located either. I think it was paid off but the bank needed proof of that or something. I don't remember all the details. It was a bit of a pain for both parties, but not too bad either. Both previous owner and myself had to meet at a bank together to get the checks cut and everything straightened out, but it was a boat that I wanted and was worth the little hassle we had to deal with.
I'd call your bank/loan office, or maybe DNR and ask them what needs to happen.
Solid point… if the value is there, stay focused on the deal. A little upfront hassle is worth getting something you will have for years. |
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Posts: 452
| I would have the hull Id and any type of vin ran through the police to see if its reported stolen. Illinois doesn't have titles for boats but they have certificates of registration. In the end they just want their tax money and the title or registration process allows for that. I wouldn't buy anything without the needed documents anymore. |
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