Try a test lamp (puts load on circuit ) say a 5 watt lamp and see the results -----multi meters have problems with high resistance connections .
They will read 12v on no load ,but when a load is added say a lamp with a high resistance in circuit you will find the lamp wont work and no voltage at bulb.
Take your multi meter (circuit in operation mode) and see how far along the circuit 12v is present as soon as voltage is lost ,there is an open circuit or high resistance ,there is a good chance you will find a high resistance accross the fuse