If you buy a slip...?
 

I'm reading a lot about marinas possibly going into foreclosure and/or closing etc. What happens if you buy a slip from them and they close?

If you own the slip there is no commection with a marina unless they are obligated to perform upkeep, etc. If you lease/rent from a marina then you should check the terms of your lease/rental agreement. Most likely a sale is done subject to existing leases. If the marina files for bankruptcy you could have some problems. Foreclosure could be fun since you don't know if the landlord's responsibilities will be honored. You also want to make sure that the party/lender foreclosing has no claim on your boat.

Anywhere where you put down a deposit you are taking a risk that you will likely not get your money back if they file bankruptcy. Be careful. I almost never make deposits.

If you buy (not rent) a slip, usually you are buying an interest in shared property, essentially a condominium. These are usually not financially connected to a marina business.

For example Irwin marine runs the marina at Mountain View Yacht Club. If Irwin went bankrupt, the slip owners still own their slips and the facilities. They just need to hire someone else to run the place.

Same thing with the Meredith Marina. The adjacent docks are mostly condo. If MM went under, the condo owners still own their slips.