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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100050
Experience:  Lawyer
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I had a bc registered large boat repossessed in north

Customer Question

i had a bc registered large boat repossessed in north carolina. on top of that boat is a small tender boat registered to another third party. As a third party can that individual get their asset back? it is distinctly different title then the large boat
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Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Are you saying it was repossessed by the financing company who is in BC?

Customer: replied 1 year ago.
it is a national bank, the security agreements are BC based, I know that once they repossessed it they have no right to pursue any deficiency claim.
Expert:  Debra replied 1 year ago.

Then they can seize the boat in NC. It is not possible to save a secured asset from being seized by taking it over the border.

And yes as there is a seize or sue law in BC they cannot sue for the deficiency.

It is unlawful for them to keep the other boat and they should be contacted by the owner of the boat who should demand its return and threaten a lawsuit.

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