Legal Question in Credit and Debt Law in Florida

Sale of boat

I left Florida (now live in IL) and left my boat with a broker. He said that he had a buyer and I needed to send the balance due to payoff the boat. I sent him $4700 and now he has NOT paid off the boat. If I surrender the property to the bank what happens? can they come after me for the entire payoff amount? Will they sell it and I will only owe the difference? This guy has my boat AND $4700 !


Asked on 3/20/08, 2:13 pm

2 Answers from Attorneys
Tonia Troutwine, Esquire - Troutwine Law Group. LLC

Re: Sale of boat

Yes and yes. The bank may ask for the remaining amount owed or sell it and hold you responsible for the difference. You should regain possession of your boat and hire a more honest broker. Based on the information you provided, it is NOT reccommended that you let the boat go back to the bank because they may get a lot less than you could.

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Answered on 3/22/08, 9:02 pm
Stuart M. Address Law Offices of Stuart M. Address, P.A.

Re: Sale of boat

You should sue him for the money or require him to pay off the debt. If you need legal help, you may need to hire an attorney.

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Answered on 3/20/08, 7:06 pm


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