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What to do with boat with no title and bank doesnt want??!!

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Old 03-01-2011, 01:38 PM
  #11
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Originally Posted by BLee View Post
A $25k note on a Sea Doo....?

X2...a SeaDoo....
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Old 03-01-2011, 01:58 PM
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Yeah the lean amt threw me at first as well...(on a seadoo!?!)but looking into it more the seadoo Challenger boats are not cheap!! Depending on what options it has it can range from 16-24K in this market!
I'm trying to get the info on who the bank is etc and see where this may lead me.
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Old 03-01-2011, 02:00 PM
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when most people mention seadoo they think the sealice....this is the twin engine 18' boat on trailer
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Old 03-01-2011, 02:22 PM
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I saw one on Ebay awhile ago, it was 40K plus! Twin supercharged 4 strokes over 500HP, Yikes!
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Old 03-01-2011, 02:35 PM
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I wonder how they reconcile that? I mean they have a title and no cash, you have a boat. Do they just write it off and jam the crap out of your credit? If there is no good faith effort to sell it can they just say you owe them all of it even though they could auction it off and reduce your debt? I know of a boat that the guy hasn't made a payment in almost 2 years and they haven't even called him yet, not a word.
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Old 03-01-2011, 02:56 PM
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i dont know...maybe they wait till either get a bailout from the feds or till its more convenient for them to pursue it.
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Old 03-01-2011, 02:59 PM
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If they were dumb enough to allow $a $25k not on a Sea Doo, they may be dumb enough to take a really low ball offer on it. It is all about timing. If they want it off the books, they will make it happen at any price they can get now. If they do not want to take the hit right now, it would not be available at any price less than the note. If you like the boat, give it a shot!
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Old 03-01-2011, 03:01 PM
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I am not a lawyer, but I think there is a way to get a title on the ski without the banks involvement. I assume your neighbor just doesn’t want it, so let him abandon it on your property, then you have to place ads in the legal registered newspaper where you live and if nobody stakes a claim to it, you can get a replacement title in your name. If the bank truly wants no part of it, you can clean up ownership and get a title in a lot of states. I think you may have to claim to have done some work on it(full detail) or just that it was abandoned at your property. Look into this, as we have done it with vehicles left at our place of business in Georgia. I think the key is if the owner just doesn’t want it back or does not respond to the ad in the legal paper of record, it is fair game. I am sure the bank will go after your neighbor sooner or later, but they do not want a jet ski, they will probably get a judgment. The banks in Fla have bigger fish to fry at this time, I am sure.
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Old 03-01-2011, 04:34 PM
  #19
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I mean really who needs a title, buy some numbers find a state sticker slap it on the sides and go.
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Old 03-01-2011, 04:40 PM
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I can get you a clean title. I will charge you a fee of course, but it will be small compared to what the bank wants. I can also get one for the trailer. Let me know. If you dont want it I would be willing to give him some money for the boat.
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