Am planning on sailing my boat to Mexico this year on the Baja Haha. Since I have a boat loan with a bank does anyone know if I need a document showing their permission to take it to Mexico? If so do they generally provide this?
Taking my boat to Mèxico
- Thread starter rlamb
- Start date
i don't know why it would make any difference the boat is yours to use as you see fit one would think ...all the bank cares about is that you pay them back on time and have insurance to cover any loses that may be incurred...you may have to add a rider to your policy to cover that trip
I'd check your loan agreement. There's a chance that the lender would stipulate that the vessel may not leave the country w/o prior permission. Afterall, it'd be tough to repossess if the owner sailed it to Central or South America and then stopped making payments!! That's not unprecedented and the loan officiers probably know it.
if that were to happen the contract was only binding to the lender.... the perpetrator skipping out will skip contract or no contract
Not sure about boats, but if you take a private plane into Mexico you don't own outright, you have to have a letter from the lien holder with you as well as insurance. I would call one of the marinas there and ask them.