Buying and Selling
What is an escrow account in a boat purchase?
Escrow ties payment to transfer: the money waits with a third party and is released when ownership passes. It also gives the survey and the registry search time to complete before payment.
Why it works this way
It is the most practical protection in remote purchases and with foreign-flagged boats, where the parties cannot meet at the moment of transfer.
Related services
Serkan Kotel · independent yacht surveyor · IIMS · ABYC · MCA
