Vessel Documentation
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Welcome to our Lender page!

          Our Lender page contains vessel documentation and boat registration information, articles, links, and resources for marine lenders. Learn how to secure and perfect collateral interests in yachts, runabouts, small watercraft, boat trailers, and outboard motors. You will also find tips and guidelines for purchase transactions and marine escrows.
          Please contact us for additional information on how you can benefit from this exclusive gathering of vessel documentation and boat registration resources. You may also wish to bookmark this page to stay current on frequent updates and revisions.

●  Free Advisory Service  -    A free online service for readers seeking information about Coast Guard vessel documentation or state level boat registration.
●  Lender Services  -  Check out our complete array of low cost self-service packages for Coast Guard vessel documentation, preferred mortgages, and state level boat titling or registration.
●  Vessel Forms  -  A complete gathering of Coast Guard vessel documentation, state level boat registration, boat trailer, outboard motor, and vessel transaction forms.
●  Abstract of Title Kit  -  Everything you need to order, interpret, and summarize a U.S. Coast Guard abstract of title. Includes a decoding list, summary worksheet, and a free subscription to our Vessel Abstracting Handbook.
●  Lender FAQs  -  Visit our database of answers to frequently asked questions we receive from marine lenders about vessel documentation, boat titling, vessel transactions, and securing boat loans.
●  Coast Guard Documentation  -  Visit our federal page for information, guidelines, and resources pertaining to U.S. Coast Guard vessel documentation and preferred vessel mortgages.
●  Boat Registration Summary - A state-by-state overview of boat, trailer, and registration requirements. Includes information about boat loan perfection methods, taxes, inspections, notaries, boat dealers, and yacht brokers.
●  Financial Institutions Database  -  Collection of searchable databases showing all U.S. banks and credit unions with background and merger information.
●  Floating Homes  -  Comparison of house boats, floating homes, and house barges with respect to registration, titling and vessel documentation.
●  Marine Database  -  Visit our Database page for a complete array of searchable databases. Here you will find a number of resources for marine lenders for everything from vessel record searches to state registration summaries.
●  MSO vs. Builders Certificate  -  Comparison of the first ownership documents issued by a manufacturer and their respective usages.
●  Optimal Security  - Article about setting parameters and making choices on the type of security arrangements that will be required for perfecting boat loans
●  Proper Notarizations  -  The importance of proper notarizations on vessel documentation, boat registration, and vessel transaction instruments.
●  State Titling vs. Vessel Documentation  -  Things your borrower must consider when deciding on whether to document a vessel with the U.S. Coast guard or title it on the state level.
●  Surveyors Database  -  Visit our Directory page for a nationwide and worldwide listing of accredited marine surveyors.
●  Surveyors Report  -  Elements of a marine survey to look for with regard to the surveyor's findings as they are related to vessel identification numbers.
●  UCC-1 Filings  -  The current status of Uniform Commercial Code filings with respect to securing a vessel collateral interest.
●  Vehicle vs. Vessel Titling  -  An interesting article that explores the differences between vehicle and vessel titling. It also highlights the importance of choosing the best titling or registration method.
●  Vessel Descriptions  -  Understanding the importance of proper vessel descriptions when dealing with title applications and transfer documents.
●  Vessel Research Guide  -  Guidelines for researching Coast Guard vessel documentation records, state level boat records, and ownership records.
●  Foreign Vessels  -  Our foreign page provides lenders with titling related information on vessels that are entering the United States from a foreign country.
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Optimal Security
 

         Coast Guard documentation with a preferred mortgage is typically viewed as the optimal security for vessels exceeding twenty five feet in length. However, this may not always be the best answer with regard to realities of the marketplace. Although a preferred mortgage is generally recognized as the best method for perfecting contractual liens, it is usually more expensive and cumbersome to deal with than state titling. Accordingly, lenders are often confronted with varying degrees of resistance from borrowers who are usually the ones to bear such burden. This is especially true on smaller vessels where documentation may not otherwise be advantageous.
          The issue of optimal security can not, therefore; always be viewed in precise terms. It may instead come down to a matter of calculated choices based on certain loan conditions. While some lenders have established parameters within which a preferred mortgage will be required, others may call for it on every qualified vessel. In order to best resolve this equation, a lender should take a careful look at all of the various implications. In doing so, the services of a qualified marine attorney may well be worthwhile.

 


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