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What is vessel documentation?
The primary purpose of documenting yachts in the United States is to establish an internationally recognized martime title for the vessel.
Documentation in the Untied States is a process offered through the United States Coast Guard for registration of vessels measuring at least five tons. Usually, vessels 28 feet and longer will qualify. The USCG process also makes a provision for marine lending institutions that are financing a portion of the vessel's purchase price to record a first preferred ship's mortgage to protect their vested interest.
The Certificate of Documentation acts as a vessel's passport in foreign waters as well as an authorization for the vessel's use in specific trades, such as fishery. Vessel documentation also establishes a single federal registry for vessel identification, a protection against fraudelent transfer of ownership of a vessel. By using the services of a documentation agent, you take an important step toward ensuring that you receive clear title to your new vessel.
Click HERE for a more complete article detailing vessel documentation.
Before you buy, contact Janet Ross at document@MaritimeServicesGroup.com
for a complimentary consultation.
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