We are in the process of attempting to charter
a boat from an owner that still has a mortgage on his boat. There is a clause in his mortgage that states he must get permission to charter
his boat for long periods of time, this would be for 7 years. This agreement of ours is actually a charter with a purchase
on the end, meaning that all of our payments go towards the purchase price
. Has anyone dealt with this before and if so what does the bank need to issue permission/what is their process? Thanks.