I'm not saying thats a bad lock but mine had one very similar to that on when I bought the rib and I never got a key for it so I tried just unscrewing the outer stainless tube with a pipe wrench and it just unscrewed easily off I think the nut part inside must have been a different metal and they had corroded together enough .I would just buy the cheapest insurance approved one as if anyone wants your outboard they will just cut the transom around the outboard with a chainsaw or similar
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