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You have to notify any potential buyers of the lien against the boat, and if they buy it, the payment should be made in a certified cheque payable to both you and the bank that has the lien. Notify the firm that there is a sale, before the cheque is cut, so they can offer a release at the time.\

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โˆ™ 2011-09-12 21:53:16
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Q: How do you sell a boat when you owe on it?
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Related questions

How do you get rid of a car on which you still owe money?

Sell it privately for what you owe on it.

If you have a lease through GMAC and the car gets repossessed do you owe for the remaining payments or do you owe for the ACV of the car?

they sell the auto at an auction sell it to the highest bidder and you the remainder

Once the lender sell you car do you still owe the balance?

You owe the difference in what the car sells for and the balance on the note.

If you sell stock do you owe tax on the capital gain of the stock or entire principle amount?

You only owe tax on the capital gain.

Can you still owe money after your car is repossessed because of the recall?

If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.

Your vehicle gets repossed you owe 11000 they your vehicle gets repossed in Ohio you owe 11000 and they sell it for 6000 do you have to pay the 5000 dollar difference sell it for 6000 do you have to p?

you usually do. it happened to my brother.

If the creditors repossessed a motorcycle and then DID NOT sell it at an auction do you still owe?

No you don't still owe; once the motorcycle has been repossessed, it is no longer your concern. Whether the creditor sells it or fails to sell it is the creditor's problem, not yours.

Can you sell a car that is not paid in full?

In some cases you can it depends how much you owe but it is not the best choice because maybe that person can owe more money to you.

Can you be charged for a car if you let the car be repoed?

Lets say your financing a brand new car. You owe $25,000 on it and when it gets reposessed you still owe $18,000. The reposession company will sell the car and that gets subtracted from what you owe. Lets say they sell it for $7,500. So they would subtract $7,500 from $18,000 which means when all is said and done, you still owe $11,500 on the car.

Who is in your boat -Satan or Christ?

AnswerNeither. As an atheist, I owe allegience to neither and do not believe they really exist.

Is it illegal for someone to sell your personal belongings without notification if you owe them rent?

It is illegal for someone to sell your personal belongings without notification if you owe them rent. In most cases, you must have notice of eviction and a judgment against you for the amount of rent owed in order for the person to sell your belongings.

Do you still owe money if your car is repossess?

Yes. You owe the amount of the unpaid loan, minus whatever they get when they sell it at auction (very little), plus their costs.

If you sell a car and you owe the creditor do you have to pay them the amount the car was sold for?

If you sell a car you owe a creditor a balance on, you pay the creditor the amount you owe him in order to get the title to the vehicle to turn over to your buyer. Anything over the balance owed to the creditor is yours to keep, assuming you sold it for more than you owed on it. If you sold it for less than you owe on it you will have to pay the additional amount out of your pocket to get the title.

What are people who sell boats called?

boat salesperson

Can bank sue for rest of money if they sell for less than money you owe on it?

Yes and they will.

If your car has been repossessed and you cannot pay what you owe should you let them sell it?

You have no choice.

How do you sell a upside down car?

If you mean you still owe money on the car you don't sell it unless you can take the money and pay off the loan. The bank really owns your car and the pink slip, so if you sell it without the loan getting paid you still owe the money to the bank.

What if sell the car but owe on it?

If you owe money on the car you cannot legally sell it without the lender signing a release form removing the lien on the vehicle. The lender actually owns the car, not you. Once you make the last payment the cars is yours.

Why did noah sell his father's boat to lice peeking on flush?

noah didnt really sell his fathers boat he was going to because he neede lice to help him get his father out of jail

how to sell a ship?

How do you sell a boat with out a title in massachucetts?

i l buy a boat in usa with a bill of sale can i cross the border with out probleme

Do you have to pay for a car if it is repossessed?

The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.

What happens if you elect to have your boat reposessed by your bank?

Pay the difference after boat is sold! _______________________________________________ The bank will usually sell the boat at an auction for little or nothing, then you must still pay the difference in what they made from selling it and what you owed. Best bet is private sell then pay bank.

Do you get cash back when you refinance your car with the credit union?

When you refinance your car, you get a new loan for the remaining amount that you owe. You cannot cash out unless you sell the car for more than you owe.

Can you sell your house while in foreclosure?

You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.