MonarchBeacher
Veteran Member
Bad Deal ?
On US Documentation there are 2 places indicating "ownership" The first list "OWNERS" these are those folks that have control of the ownership of said vessel. There is another section for "MANAGING OWNER". This may or may not be the same as "OWNER": one can be listed as "MANAGING OWNER" for operational purposes but the Listing Agreements, Purchase and Sale documents are to be named and signed solely by the "OWNER" unless written otherwise elsewheres by the OWNER. There is no section for "Controling Owner". All funds are to be made payable to the "OWNER" and may be dispursed with written permission otherwise. If there is a lien (Mortage,loan) that must be paid before any other funds are dispursed.
If the vessel is named differently on the P&S, then technically it's not the same vessel. The documentation number should be on all paperwork.
Also, in multiple locals a written Listing Agreement needs to be in place for brokers to sell a vessel.
Get a written listing agreement with fees and duties spelled out, with the correct vessel ID (HIN a/o Documentation) and ownership.
As for price and "below market": market is what someone will write a check for.
On US Documentation there are 2 places indicating "ownership" The first list "OWNERS" these are those folks that have control of the ownership of said vessel. There is another section for "MANAGING OWNER". This may or may not be the same as "OWNER": one can be listed as "MANAGING OWNER" for operational purposes but the Listing Agreements, Purchase and Sale documents are to be named and signed solely by the "OWNER" unless written otherwise elsewheres by the OWNER. There is no section for "Controling Owner". All funds are to be made payable to the "OWNER" and may be dispursed with written permission otherwise. If there is a lien (Mortage,loan) that must be paid before any other funds are dispursed.
If the vessel is named differently on the P&S, then technically it's not the same vessel. The documentation number should be on all paperwork.
Also, in multiple locals a written Listing Agreement needs to be in place for brokers to sell a vessel.
Get a written listing agreement with fees and duties spelled out, with the correct vessel ID (HIN a/o Documentation) and ownership.
As for price and "below market": market is what someone will write a check for.
