If a loan is used for purchase, the bank holds the title, similar to the deed for a home mortgage. (I think.)
Sale is pending! A guy gave me $20 to hold the boat so he can go to his bank on Monday.
Sell that dredge barge yet?
Yep. The $20 dude got his loan and the sale was made.
He ended up wanting a “test drive”, which meant hauling it to the river, getting it set up, then noticing the marine battery was no good (I had two batteries that were on my new boat and grabbed one of those.)
So I had to walk a quarter mile to the marina (from the nearby public launch), grab another battery, then walk back. Shortly after which the buyer showed up. Demo complete, we went to the notary and did paperwork.
But I left the dead battery on the old boat. So I went to the marina to buy a new battery and didn’t have a trade. I thought I’d have to pay a core fee, but the marina owner had an old, decrepit battery he gave me to trade in.
All is well.
ETA: just realized, I never gave the buyer his twenty back.
Mazel Tov!
Why is it that marine chandleries always feel like the longest walk from the boat you’re trying to fix?