--- WikiTags ---

The nation's premier boat history report with a full compliment of title search resources. Includes eight maritime databases all rolled into one convenient interface. A must-have service for any prospective buyer, marine lender, or maritime professional.

Visit Now

Owner Background Search

Criminal Records
Assets - Properties
Personal Details

Know your seller!

Repossession WikiTags WikiShare

BoatWiki - Definitions

Definition

A repossession in boating terms can be defined as the physical act of arresting or recovering a boat that is subject to a loan foreclosure. Although only an element thereof, it is often conflated with the terminology of a "foreclosure" which is an overall process of liquidating the collateral.

Context

Depending on the circumstances, a boat may be arrested by a federal marshal or recovered by a private party. As with any type of physical repossession, it must be performed in a non-combative manner and in such a way as to avoid damaging the subject boat. In any event the overall foreclosure must be implemented according to the respective statutes to avoid legal ramifications. Whether handled through a court of law or non-judicially, the entire process should be handled under the auspices of a qualified attorney.

Credits and References

2/28/2022 - Page initiated by Team BoatWiki.

Float Your BoatWiki

Learn about the role you can play
in supporting the internet's most reliable
source of free boating information.

WikiAlerts

Stay informed about urgent matters of
boater fraud and the latest changes in
boat registration or safety regulations.