Abandonment And Salvage

You give up a boat anchored to a dock that you just don't want anymore. It had $12,000 left in bank payments. You're moving to Somalia, so you don't care about your credit rating. You've abandoning the boat with clear legal intent, i.e. not just leaving it for 3 months while you climb Everest. The bank will sell the boat on eBay (or eBoat) and salvage its value. The boat may bring in a hundred grand. The bank will take its 12k off the top and then charge massively for its time, its lawyers time, and any other fees it can possibly think of so that it may claim another 38k in fees, leaving 50 grand left over after the boat has been sold. It will then hold that money until you try to claim it - and you'll have all kinds of hoops to jump through with judges if in fact you do want to claim that dough - deadbeats who just abandon things and leave the country don't have a whole lot of legal sway here.