Can Lender Repossess Boat?

I own a documented vessel with a Preferred Ship Mortgage. I missed two payments, and my lender recently hired a private repossession company to pick up the boat. The bank said it will return the boat

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2 Responses

Danny Lockhart says:

January 30, 2025 at 2:53 pm

I’m a Licensed Captian, in Washington state with a 100 ton near coastal MMC credentials . What type of certification do I need to REPP boats within my tonnage for banks or Lenders ?

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Danny Lockhart says:

January 30, 2025 at 2:56 pm

What type of License or certification do I need to repo boats for banks or lending Agencies? I’m from Wa. State

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