reg.

[Dr1532]

I have a boat reg in RI,the boat has a lien on it ,I have someone that wants to buy the boat but the loan company will not release the title for 20 days after being paid off,then another 5-7 days to send it .They will not over night the title nor expedite it any faster. The person buying the boat does not want to wait 25+ days to use the boat. anyone know on how this can be handled for insurance and registration purposes so he can use it .and keep all parties happy

[georgedo]

I think that all your buyer will need is a notarized bill of sale and your current registration. Then he will be able to register the boat and apply for title. If you go to the RI DEM web site everything is explained.

[regulator72]

This situation happens all the time. Most boat that are sold, have liens on them. Not sure how RI works, but in most states, as long as the new owner has a Bill Of Sale, or contract showing that they just purchased the boat, they should be fine. They may be able to get a Temp from the DMV. If the purchase was doen through a dealer, the dealer would provide a Temp Registration so the new onwers could use the boat asap. Check with your local DMV. Assuming the new owner is going to register and title in RI again, this link may be of help..

https://www.ri.gov/dem/boatrenewal/


His isurance company shouldn't need much besides vessel info, and maybe a copy of the bill of sale from you to him. Do yourself a favor and DO NOT cancel your insurance until you recieve confirmation that the payoff has been made. The boat is still yours until your loan is paid in full, and you can confirm that with the bank.

not an expert on how RI works, but this info should help you