Originally Posted by commandersander (Post 3341522)

Awfully broad stroke with your brush there, huh? Instead of painting such a negative picture for our friend, how about making a suggestion that he can find some use with? He didn't post a request for criticism and negativity.....

I am not picking a fight here.....but please....let me point out the obvious....

This is a community. We all come here to share...the good, the bad....and hopefully learn something from our fellow (not gender specific) members.

VIP.....thought you would know that with your stature.....that is of course unless it stands for Very Insecure Person....one that gains self-worth from the belittling of others...

:sport009: Follow him.....he's on the way to your preferred venue...

Originally Posted by TexomaPowerboater (Post 3339896)

Find a title specialist. They can probobly do a storage lien.

Originally Posted by commandersander (Post 3341284)

Great.....now I'm gonna open my big damn mouth....

When will I learn.....

This is a completely legal and legitimate process:

Maximum allowed per-day outside storage $35
Maximum allowed per day inside storage $65

If you performed ANY maintenance or repairs during the period of time while it was in your possession that could be see as preserving the condition or meeting the agreement that you made when it was dropped off (install a radio for ______$) or change the gearcase oil for _________$) by ANYONE....meaning NOT the owner and NOT the lein holder(s)

Add all of your "fees" together, and present the lein holder by return receipt with a request for payment. Make sure they have a way to contact you.

They will assess the value v.s. what you are claiming and do one of two things only:

Value higher than claim, will pay you and come pick up the asset.

Claim higher than their value, they will send you the title.

Period. That easy.....almost....

If they pay you and take the boat, demand a "hold-harmless"in your name...this means that they are releasing all claim to the asset where you are concerned.....

If they say no thanks, keep the boat.....tell them again, you want a hold-harmless in your name along with the title....and they will ask the same from you....

You do not need a signed work order. It helps, but FL is one of the states that uphold verbal agreements as "contract"...so the lein holder has to prove that you were not in possession of the asset...which is stupid because why else would you HAVE IT NOW...??!!

Now....to your friend....certainly, he can't do this. It is a violation of his purchase agreement. So is not paying, but he has no financil claim to the asset until it is HIS. You, on the other hand, have no agreement with the bank/lein holder. Your agreement is with "someone" who asked you to perform a service...i.e. maintenance or repair or storage. Whether or not the registered owner asked you to do this makes no difference to the bank. What matters to them is that you have possession and a legitimate claim that they MAY have to defend against.

They don't want the boat. They don't want to go to court with a claimant...for a boat that they don't want. Ends up costing them waaaay too much.....and it hurts their score as a lender.

Finally, there is a strong probability that your friend will receive a 1099A (abondoned) from the lein holder next year. This means that he will have the balance of the unpaid loan reported to the irs as EARNED INCOME. This lets the lender write down thier own tax liability.....and your friend has to give UnkSam somewhere in the neighborhood of 7k for the reported balance you stated earlier....

They may not. There is no rhyme or reason as to which lender will or will not, or when if they do. It is something your friend wants to consider no matter what.

Best case, you get a boat and help your friend pay the tax liability IF they send him the 1099.

Middle case, he abandons it in their parking lot....they sell it at auction for 5k.....he gets a 1099 for 19k instead of the whole amount...

Worst case, apply for a title and send empty envelopes with return receipt and get caught....

Do it the right way! You don't want this boat for 50-100k plus time if you get caught being shady.....

Oh.....quick end off....

They bank knows that they are looking at $100per foot for recovery....plus storage...plus delivery to the auction...plus the sellers premium....plus administrative costs....plus interim liability.

THIS IS WHY THEY DON'T WANT WANT IT BACK. PERIOD.

Originally Posted by offshoredrillin (Post 3341739)

obviously you know nothing of me or my sarcasm.:rolleyes: however I digress. the fact that you chose to pick that sentence out of my post speaks volumes for your integrity. just becasue a person at the bank says one thing, it does not release the original borrower from his liability to said craft. the fact that people here have offered to "get a clean title" by pulling some bull sh!t gray area while at the same time questioning someone else's way of handling a title and serial numbers, you tell me, wtf is the difference????
I look at it this way, if he can fabricate work documentation for a boat to obtain it, then as a manufacturer I should be allowed to renumber and redo a vessel with no issue. I seem to remember a certain apache that went back as a 1994ish and came out as a 2006, did he break the law too? you phucking hypocrites are all the same, the law is only right when it works in your behalf!

Originally Posted by RunninHotRacing163.1 (Post 3341898)

Rob / sarcasm ??? :lolhit:

Originally Posted by boatnt (Post 3341916)

Wally
is this for that 38 down in Florida?

Originally Posted by Wally (Post 3341982)

The plot thickens and the story now changes!....i got a little more info. the guy had the boat under one of his companies...that he declared banckruptcy on and told the bank it was left outside and was all dirty/scummy...etc.....so the bank is under the impression it has no value and thats why they didnt want it. But he had it under cover in his garage the whole time. But now i cant get a hold of him i guess he realy dont want to get rid of it...at this point i dont feel like following it up anymore...more of a headace then its worth to me att his point.