Why use a documentation service?
Consider the following reasons in deciding whether to use this service:
- Vessel documentation can be complicated, confusing and time consuming and requires specialized knowledge.
- Complex governmental regulations determine whether a vessel must be titled, state registered, Coast Guard documented, or foreign registered.
- Registration and licensing requirements vary widely among jurisdictions. Failure to comply with these requirements can result in heavy fines and penalties.
- Maritime lien priorities are difficult to understand. Maritime liens and encumbrances are under Federal jurisdiction. Federal priorities and regulations are different from those administered on the state level.
- There is no such thing as “title insurance” when buying a vessel as compared to purchasing a home. The buyer must make sure that the vessel’s
This organization completes searches via abstracts of title from the U. S. Coast Guard and the Department of Motor Vehicles printouts but does not guarantee that such searches will discover all liens filed against the vessel.