The Preferred Ship Mortgage provides a lender or financier of a vessel competitive status among competing claims that might arise against a vessel. The U.S. Coast Guard acts principally as a recording agency in regard to mortgages and related instruments. It’s important to learn about it if you happen to finance someone’s ship after he/she…
Have you been checking a vessel out but aren’t sure if it’s the right one for you? Does your research tell you that everything is on the “up and up” when it comes to this vessel, but you want to be certain? That makes all the sense in the world. A vessel is an investment,…
Have you been looking for a way to get financing on your vessel? Does it seem like getting your vessel documented is something that could benefit you, but you aren’t sure about all of the specifics? If so, you’re in the same position that so many vessel owners have been over the years. You’ve found…
The “Preferred Ship Mortgage” is one of the ways that you can go about securing boat loans. Typically, this particular kind of mortgage is for vessels that are over 26 feet in length. For boats that are smaller than that, the title and a notation of the security interest recorded on the title should be…
Finding the capital to fund your purchase of a yacht or vessel will often mean taking out a loan from your bank or credit agencies. Finding this type of financing often means making use of a preferred ship mortgage. This type of mortgage is unique to maritime lenders, and the lien which is placed on…
When you are buying a boat for the first time, you will see that the process you undertake so that you can get the yacht or large recreational vessel you have always wanted is a lot like what you go through when buying a car or a home. Most people will need to obtain financing…
IMPORTANT LINKS: FOIA | USA.gov | U.S. Department of Homeland Security | DHS Office of Inspector General | WhiteHouse.gov | MHS Notice of Privacy Practices
