Has anyone ever bought a boat from storage facilities that they acquired because of non payment of storage fees, any guidance or horror stories welcome, just don't kno what I would be getting into???
Thanks

I more concerned about registration and title for trailer it is a $22,000 boat

I don't know, but I sure would be leery about that to. I know storage facilities have a right to get there money back by taking ownership of the contents and selling it, but something like a boat or car with registration and titles is a whole different game. I'm interested to see what someone else has to say.

Title nightmare. It would have to be dang near free.

the lienholder might have something to say about it if it has A lien on it.

It's a 2004 tuition tr21 and he already seems high at $22,000! It is immaculate shape! I think it would be a title nightmare too!!

Walk away......priced way crazy considering the trouble

Thanks guys for info, I had no idea how that worked!!

Wouldn't the storage facility need clear titles on all before they could sell?

They'll have to provide a mechanics lien and then find out if there is an outstanding loan on it. It's complicated and takes six months to wade through. I pity the igmo that ends up buying it.

I think most storage places have a clause in the rental agreement that after a certain period of default, the items in storage become theirs.
They could put it up for sale or auction and they don't need a title to sell it as salvage, but the buyer would have to have one to register it. By law, the storage facility can only sell it for what is owed and after that, it's not their problem.

I would walk away from it also. Life is already hard without taking on something like that. There are other deals on good boats out there.

Don't they have to auction off an abandoned vehicle? If so then they may be saying its 22k but it should go for the best bid.

http://www.statutes.legis.state.tx.us/Docs/TN/htm/TN.683.htm

Ok, looked it up. In Texas it appears to do it legal a storage facility is termed a "garagekeeper" and they must notify and turn the vehicle over to the police for disposal by auction or other means. Once bought at auction it appears its pretty straight forward on being able to obtain titles. The former owner forfeits all rights if they don't respond to the written notice from the garagekeeper.

I am sure money is owed to the storage. I would think that just like money owed a business with the debt item in possession. Notice to sell item to dissolve the debt would have to be posted at the local County Court House for 30 days and same notice published in a local news paper as attempt to contact lien holder or owner of intent to sell. Storage places have contracts for this.

Might be simple if the title is clear but I'd say there's a better chance the deadbeat owes a large amount on the boat. Really good chance the bank has been trying to repo it for six months. I don't want to be in the middle of that scrape.

If there is a Lein and the bank is looking to repo the boat when the storage place sends the registered letters to the owner and lien holder the Lein holder will come get the boat and pay all the back storage fees to the storage facility. We had that happen several times at a marina I worked for.