Possible Duck Boat??

Discussion in 'Waterfowl Hunting' started by dbo, Jan 5, 2008.

  1. dbo

    dbo Active Member

    Hello - new guy here.

    I have a question about boat titles. A mini-storage facility where we park our travel trailer during deer season has a pretty decent flat bottom boat that the owner/management company is looking to sell after the owner defaulted on the monthly storage dues (over a year now).

    The boat and trailer is in good shape and looks like it would make a good duck boat and I'm considering buying it but without a title, I'm not sure what to do/where to go to begin to ask about getting a new title.

    I figured I need to talk with the DMV but we all know how easy those folks are to deal with so I thought I'd start here first.

    Any thoughts or suggestions?

    Thanks -Dan
     
  2. ross.bowhunter

    ross.bowhunter Well-Known Member

    I think the mini-storage facility would have to get a title first in their name since they have a lien on it. Then they could sell it to you. I would think it would be the same as a bank getting a title in their name after repossesing it.
     

  3. rowdyrabbit

    rowdyrabbit Well-Known Member

    The trailer will be the only thing with a title. In Arkansas boats and motors are registered, but not titled. The owner of the storage should be able to get an abandoned title for you.
     
  4. Loc-on

    Loc-on Well-Known Member

    This is right. Banks are different because banks holds the title before default occurs and have had the borrower execute a Power of Attorney giving the bank the right to sale or dispose of the boat if the borrower defaults. The bank never has a title in their name. The storage owner needs to get an abandoned title.
     
  5. 4hunting

    4hunting Well-Known Member

    I have had to deal with this issue several times over the years when people fail to return & pick up items after repairs were made to them. The boat & motor are no problem as far as titles go, but the following must & needs to be done on all the items that are being sold.

    Under the law, a holder of the lien must do a ACIC check to see if it is stolen, a lien & title search on the item to find the owner of record & lein holders, if any & notify all of them by registered letter of the act of recourse being taken on the property. The owner of record and/or the lien holders has 2 weeks to redeam the property & pay all outstanding charges. If they do not respond they default claim to said items. Then the holder of the lien can move forward with the sale. After the 2 weeks have passed in which the owner of record or lien holder of record has had to redeam the item & they have shown default, the holder of the lien must run an advertizement of sale in a public forum, as in the local paper, for 2 more weeks listing the item(s), VIN#, & conditions & location of sale. After that time the item can be sold to the highest bidder. The winning bidder will recieve copys of all paperwork as in ACIC reports, the registered letters sent, reciepts the letters were delivered, copys of the public announcements, & a copy of the original bill with all charges & late fee's attached and a Bill of Sale & a release of lien from the seller of the item per the lien. All of this paper work is taken to the revenue office & a new title can be issued in the new legal owners name.