What happens in the case of default on a yacht loan?

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Dylan Borer asked a question: What happens in the case of default on a yacht loan?
Asked By: Dylan Borer
Date created: Sun, Jul 18, 2021 5:56 PM
Date updated: Tue, Jun 28, 2022 11:50 AM

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Top best answers to the question «What happens in the case of default on a yacht loan»

  • Pre-delivery requirements also include assignment of the yacht-building contract. In the case of default, the contract gives the lender the right to have the builder finish construction. Then the lender takes possession of the vessel and sells it.

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