WHAT ARE THE ADVANTAGES OF A CLOSING AGENT AND SETTLEMENT SERVICES?
As described above, the issues surrounding vessel ownership, lien perfection, titling and registration are quite complex. Add to this mix the coordination of researching the existing manner of title, disclosure of recorded liens, collection of the appropriate funds, disbursement of seller proceed and the payoff of recorded liens and commissions, taxes etc. A third-party closing agent is not only familiar with the various state regulations that must be addressed with a transfer of vessel ownership, but can, in addition, coordinate all of the complex issues that must be dealt with to complete the transfer properly.
