The Free Boating Encyclopedia



— WikiTags —

Authorization for Payoff - Example
Authorization for Payoff - Definition



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!

Sponsored by


Authorization for Payoff WikiTagsWikiShare

BoatWiki - Forms

BoatWiki needs your help in maintaining our vital community resource.
Please WikiShare any comments, suggestions, or corrections regarding this subject.


Jun 12, 2023 - The boat authorization for payoff is designed to enable a third party to pay off a boat loan on behalf of the borrower. Marine lenders will not typically allow this without the borrower's written consent. It also provides a directive to send a released title and any lien or mortgage release documents directly to the payor. Unfortunately, such instruction is not always honored and should not be taken for granted.


The form is provided as an example only in Adobe PDF format and can be configured in various ways so long as it contains the necessary information.


Include the names and addresses of the payer, lender or lien-holder as shown on title or registration records, and any agents, successors, or assignees of that lender. It must contain the loan number and a full description of the subject boat along with its identification numbers. Lenders do not typically require notarization of the borrower's signature.


Payoff authorizations are typically used subsequent to obtaining a written payoff demand from the lender. This should indicate the balance due, any per-diem interest that may needed to be added along with instructions on where to send such amount. Sufficient per-diem should calculated to cover any delays in processing the payoff. Any overage will be refunded to the borrower.

Credits and References

Jun 12, 2023 Page revised.

Float Your BoatWiki

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


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

A Division of Maritime Partners, LLC
State of Washington  USA
© Copyright 1998 - 2024 All rights reserved.

boatwiki boatwiki