1) Lienholder shal submit with application the fair market value as determined by
yacht/ship broker - not surveyor - with 30 days of that submission.
2) This is not required if public agency removes abandoned vessel, or arranges by
contract for removal of vessel.
The public agency determines if estimated value of vessel is $1500 or less. If public
agency fails to determine value, lienholder shall determine the value.
Give this one a try later!
, 507 - Fair Market Value
Send notice of pending lien sale 20 days prior by mail with return receipt to:
1) Legal owners of vessel
2) All persons known to have interest in vessel
3) Department
Give this one a try later!
503.f - Lienholder sends notice of pending lien sale to:
any LLC on July 1, 2001 in order to continue shall become individual, partnership, or
corporation....
Give this one a try later!
729.5 - Limited Liability Company
Dept may issue cert of convenience to executor of estate of deceased, or if none
appointed, until such time as one is...to the widow or other heir... permitting such
person to act as broker for 90 days after death unless persons attain a license.
Give this one a try later!
727 - Deceased broker
,No broker can engage in transaction for which license is required wihtout signed
written authorization to do so from broker's principal.
Authorization to sell: contain description, make, undoc. vessels reg number and name,
official number, home port if USCG Documented.
1) Offer to Purchase: shall contain description of yacht, undoc. vessel reg # or name,
official number, and home port if Documented, amount of deposit, terms of sale, and
any contingencies or conditions...
2) Broker shall deliver a copy of written authorization to person executing sale or
purchase - Receipt shall be made on the face of the original document.
Give this one a try later!
716 - Signed Authorization
Failure to renew after 2 years requires person to apply for new license as if it were the
first time. If salesman's license expires only because that person procured a broker's
license or vice-versa, either of former license may be reinstated within 2 years of
expiration of the latter.
Give this one a try later!
726 - Failure to Renew (2yr)
5+ Tons engaged in fisheries, Great Lakes or Coastwise except: a)Vessel that doesn't
operate in US Nav Waters b) non-self propelled vessel within harbor, in whole/part
rivers or inland lakes of US, canals, internal waters.
Give this one a try later!
, Vessels Required to be Documented
Licensed broker who does not place compensation/funds in connection with
transaction into neutral escrow shall place funds into trust maintained by broker until
broker makes disbursement in accordance with written instructions. The written
instructions include those for which broker may use deposit, anything else and broker
needs written permission by letter or facsimile. Any funds received by salesman shall
be given to broker.
Give this one a try later!
714 - Trust Accounts / Escrow
Department: Dept of Motor Vehicles or any successor agency
Mail: First class mail unless registered certified mail specified
Services: making repairs, labor, supplies for any vessel or trailer
Storage: safekeeping, mooring, berthage
Vessel: every watercraft other than seaplane or home, used for transport but
excluding vessle w/ valid marin Doc, including trailer.
Give this one a try later!
Boaters Lien Law 501 - definitions
Dept. May deny application or suspend tje license of a broker or salesperson...if:
1) Make substantial misrepresentation, false advertisement, omission of relevant facts.
2) Makes false warranty of character likely to influence or persuade a person.
3) Engages in a continued flagrant course of misrepresentation.
4) Acts for buyer and seller without full disclosure of that fact to buyer and seller and
yacht/ship broker - not surveyor - with 30 days of that submission.
2) This is not required if public agency removes abandoned vessel, or arranges by
contract for removal of vessel.
The public agency determines if estimated value of vessel is $1500 or less. If public
agency fails to determine value, lienholder shall determine the value.
Give this one a try later!
, 507 - Fair Market Value
Send notice of pending lien sale 20 days prior by mail with return receipt to:
1) Legal owners of vessel
2) All persons known to have interest in vessel
3) Department
Give this one a try later!
503.f - Lienholder sends notice of pending lien sale to:
any LLC on July 1, 2001 in order to continue shall become individual, partnership, or
corporation....
Give this one a try later!
729.5 - Limited Liability Company
Dept may issue cert of convenience to executor of estate of deceased, or if none
appointed, until such time as one is...to the widow or other heir... permitting such
person to act as broker for 90 days after death unless persons attain a license.
Give this one a try later!
727 - Deceased broker
,No broker can engage in transaction for which license is required wihtout signed
written authorization to do so from broker's principal.
Authorization to sell: contain description, make, undoc. vessels reg number and name,
official number, home port if USCG Documented.
1) Offer to Purchase: shall contain description of yacht, undoc. vessel reg # or name,
official number, and home port if Documented, amount of deposit, terms of sale, and
any contingencies or conditions...
2) Broker shall deliver a copy of written authorization to person executing sale or
purchase - Receipt shall be made on the face of the original document.
Give this one a try later!
716 - Signed Authorization
Failure to renew after 2 years requires person to apply for new license as if it were the
first time. If salesman's license expires only because that person procured a broker's
license or vice-versa, either of former license may be reinstated within 2 years of
expiration of the latter.
Give this one a try later!
726 - Failure to Renew (2yr)
5+ Tons engaged in fisheries, Great Lakes or Coastwise except: a)Vessel that doesn't
operate in US Nav Waters b) non-self propelled vessel within harbor, in whole/part
rivers or inland lakes of US, canals, internal waters.
Give this one a try later!
, Vessels Required to be Documented
Licensed broker who does not place compensation/funds in connection with
transaction into neutral escrow shall place funds into trust maintained by broker until
broker makes disbursement in accordance with written instructions. The written
instructions include those for which broker may use deposit, anything else and broker
needs written permission by letter or facsimile. Any funds received by salesman shall
be given to broker.
Give this one a try later!
714 - Trust Accounts / Escrow
Department: Dept of Motor Vehicles or any successor agency
Mail: First class mail unless registered certified mail specified
Services: making repairs, labor, supplies for any vessel or trailer
Storage: safekeeping, mooring, berthage
Vessel: every watercraft other than seaplane or home, used for transport but
excluding vessle w/ valid marin Doc, including trailer.
Give this one a try later!
Boaters Lien Law 501 - definitions
Dept. May deny application or suspend tje license of a broker or salesperson...if:
1) Make substantial misrepresentation, false advertisement, omission of relevant facts.
2) Makes false warranty of character likely to influence or persuade a person.
3) Engages in a continued flagrant course of misrepresentation.
4) Acts for buyer and seller without full disclosure of that fact to buyer and seller and
