Legal Question in Credit and Debt Law in Florida

2 people enter into a private/personal promissory note with a boat attached as collateral. The debtor signs and turns over the title to the boat after the note is signed. Creditor files a lien on the boat with the DMV. The debtor breaches the note as the time for payment has passed. Can creditor now sign the certificate of title, put the boat in his name and take it free in clear. In other words, in Florida do you have to have a court judgment first placed on that boat? or can the creditor put title in his own name and sell the boat? does the law allow non-judicial sale of collateral to liquidate a security interest upon default?


Asked on 7/17/14, 2:45 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Check with DMV but i would think you need court order unless you are a Marina. Good luck.

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Answered on 7/17/14, 3:55 pm


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