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  1. #1
    Join Date
    Apr 2011
    Posts
    1

    Default Lien on a Boat

    My question involves the title for real estate in the state of: A lien on my boat. I had my boat at a marine all summer. For the winter i could not afford to store it (there is no trailer bc it is too big). A lien was then placed on the boat for $2,100. I could not pay it until right now and the lien was due 2 months ago. I contacted the owner of the marine and he said he will work out a deal with me that if i sell my boat which i am selling it for $20,000 he wants half. I cant really see losing that much money over $2,100. Is the boat really his now? And if so, how? I dont know what to do i bought the boat recently for $22,000 two summers ago and can't afford to take this big of a loss.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Lien on a Boat

    If you choose to enter into a contract with the lien holder that gives him half of the sale price to satisfy your lien, that's what you've chosen to do. As you haven't told us whether the marina has taken steps to enforce its lien for storage, we don't know what's going on in that regard. If you owe $2,100 and can sell the boat for $20,000, it would make sense for you to find a way to borrow the funds to pay off the storage lien and then to pay off the loan with the proceeds from the sale.

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