Q: Is this still valid law in terms of the selling price must at least be for 1/2 the value of the vessel?
F.S. 328.17 non judicial sale of vessel.
In addition, there is no written lease involved After purchasing the boat from the boatyard.
Thank you.
A:
I don't see anything in Section 328.17 providing that "the selling price must at least be for 1/2 the value of the vessel". But if you want, look it up yourself at
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0300-0399/0328/Sections/0328.17.html
Value is generally established by what is bid at the sale. If you want the best possible bid, make sure that everyone in the market for such vessel is aware of the sale.
A:
It would be best for a Florida attorney to advise on Florida statutes, but this is what Justia has on the subject, open to search for anyone on the Internet:
Page Link: https://law.justia.com/codes/florida/2016/title-xxiv/chapter-328/part-i/section-328.17/
Good luck
Tim Akpinar
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