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Transferring Boat Title Help

Old 03-05-2012, 07:03 PM
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Exclamation Transferring Boat Title Help

About to drive a couple hours to pick up a used boat. Buyer still owes a little bit of money on the boat so Bank of America has the title. If he pays the rest of it off and we both go to to the bank, does he receive the title immediately and then can sign it over to me or can the bank transfer it to me immediately? Wanting to know if I can have the title or some type of paperwork with my name on it in my hands tomorrow, after the boat is paid off. Thanks in advance!

Last edited by Over Slot Apparel; 03-17-2012 at 02:07 PM.
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Old 03-05-2012, 07:11 PM
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Been there and done something near that. The answer is yes but no a quick as you would like. It can happen in a few days but it would require you to ride his a@# to get the bank to produce the release of lien. One that is done and he signs it - you are in the clear.
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Old 03-05-2012, 07:17 PM
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Thanks for the quick reply. So there's no purpose in me driving up there tomorrow (9 hour round trip), not until he has the release of lien?
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Old 03-05-2012, 07:31 PM
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Originally Posted by Over Slot Apparel View Post
Thanks for the quick reply. So there's no purpose in me driving up there tomorrow (9 hour round trip), not until he has the release of lien?

and be sure the title is at the bank location you are going to.
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Old 03-05-2012, 07:36 PM
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Yes, you can drive there and more than likely get pissed and waste your day. And yes, as the other post stated, have them leave it there waiting for you - at the bank. You are done! Keep in mind if he shows up early at the bank to do this for you and gets all the doc's completed - you are spinning your wheels. Get him and the bank together, process everything, then get him to tell the bank to have someone at the bank call you when it is completed. Then, drink alot and post pic's - we like pic's.
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Old 03-05-2012, 08:29 PM
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In the instance the guy can't afford to pay the note off in advance, depending on the bank and the state, you can do something like this:

Go to the bank with him, pay off the boat and give him the difference. Have him sign a bill of sale, and request that the bank release the title to you. In FL we have electronic titles, so in this instance, once the boat is paid off, the bank would then get a hard copy and send it to you rather than to him.

Difficult situation, but you can also talk to his banker and just ask them "how can I pay for this boat and make sure the title is released to me". Most of the time if the banker has any experience they can tell you how to handle it. I went through the same thing on my truck and it was no problem.

Good luck!
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Old 03-06-2012, 04:23 AM
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it is bank of america.

customer service = zero

brain capacity of branch manager = zero
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Old 03-06-2012, 04:29 AM
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I purchase a boat recently with the guy owing the bank a payoff and the only way I would do it 'cover your butt' was to make the balance that was owed directly to the bank that's because you will have to wait for the title to come back with the lien cleared unless if your very lucky and they do that in house. Come to find out there was problems with the title and the seller drug his feet and so did his loan officer to get me the cleared title. I then called the bank got the manager of that branch told them the story he said that's between you and the buyer I replied sir the check was made out to your bank it's between your bank and myself now. After that the manager stepped in immediatly and feathers flew and I got my title straightened out. Just tell the guy that you'd feel more comfortable if the payoff to the bank was made directly from you in a check or cashiers check with your name on it as well.
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Old 03-06-2012, 05:39 AM
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have the current owner inform BOA that he is going to pay off the balance via sale and BOA should have the title delivered to the preferred branch. When the branch has the title in hand-you can complete the transaction there with certified funds and walk out with the title. Another option is to go to the branch which holds the title (should save you a few days)

This is how I performed my last purchase and both of us banked at BOA. Obtain the banking representatives contact information to ensure eveything is in order before you depart.
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Old 03-06-2012, 05:55 AM
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Originally Posted by Shin-Dig View Post
have the current owner inform BOA that he is going to pay off the balance via sale and BOA should have the title delivered to the preferred branch. When the branch has the title in hand-you can complete the transaction there with certified funds and walk out with the title. Another option is to go to the branch which holds the title (should save you a few days)

This is how I performed my last purchase and both of us banked at BOA. Obtain the banking representatives contact information to ensure eveything is in order before you depart.

There are actually 2 people still using BOA.
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Old 03-06-2012, 07:11 AM
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Thanks guys really appreciate all the info. I got an answer 10x faster here on THT than I did with BofA . They pretty much told me what you guys did. Owner of the boat is going to pay the rest of the boat off today and should have have the lien release by early next week.

Originally Posted by fichtion View Post
it is bank of america.

customer service = zero

brain capacity of branch manager = zero
I know this all too well, still haven't switched banks yet
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Old 03-06-2012, 07:12 AM
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Gator that is how I did mine, but we do not have boat titles in CT
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Old 03-06-2012, 06:49 PM
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Do you happen to be picking up a 150 Montalk in Delaware?
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Old 03-07-2012, 07:49 AM
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Originally Posted by ToeCutter66 View Post
Do you happen to be picking up a 150 Montalk in Delaware?
Nope, a Triton 190 LTS in North Florida.

Everything checked out, appreciate all the help guys
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Old 03-17-2012, 02:09 PM
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Just finished the tow home, everything checked out with bofa and have the title in my name. Appreciate all the help

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