Your boat’s Abstract of Title is an important document that you need to keep on hand at all times. However, it’s often filled with abbreviations that can be overwhelming and confusing. For that reason, it’s a great idea to become familiar with the most common acronyms that you might see on your Abstract of Title. Keep reading to find out everything you need to know.
What is the Abstract of Title?
The short answer to this question is that the Abstract of Title is the collection of all relevant documents submitted to the United States Coast Guard for a boat. This paperwork is important because it proves ownership, proves that the registration is current and valid and other vital data pertaining to the vessel. Keep in mind that the Abstract of Title only contains documents that are accepted by the US Coast Guard for recording during the time it’s registered with the USCG.
If you are buying a boat, it’s a good idea to compare the data, particularly the vessel’s numbers, with that on the Abstract of Title. Mistakes need to be corrected and could be due to a simple mistake but might also be the result of fraud or other criminal activity.
Common Abbreviations to Be Aware Of
Keeping this list of abbreviations on hand will help you cross reference information as you memorize the acronyms that are important to know. There may be others that don’t appear on this list, but for now make sure to get familiar with the following.
AF – Affidavit
AGPM – Assignment of Preferred Mortgage
AGCL – Assign Notice/Claim of Lien
AGM – Assignment of Mortgage
APM – Assumption of Preferred Mortgage
AMCL – Amend Notice/Claim of Lien
AMM – Amend Mortgage
AMPM – Amend Preferred Mortgage
APPM – Assumption of Preferred Mortgage
ASSN – Association
BKCY – Bankruptcy
BS – Bill of Sale
CORP – Corporation
CP – Community Property
CPRS – Community Property w/ Survivorship
CSVR – Conservator
CTO – Court Order
DG – Deed of Gift
EXX – Executor/Executrix
FCL – Foreclosure
FLPM – Fleet Preferred Mortgage
FRF – Forfeiture
GP – General Partner/General Partnership
ILA – Interlender Agreement
INC – Incorporated
JT – Joint Tenants
JTRS – Joint Tenants w/ survivorship
JV – Joint Venture
LP – Limited Partner/Limited Partnership
LTD – Limited
LQ – Liquidation
MRG – Merger
MTG – Mortgage
NCL/CL – Notice of Claim of Lien
ONC – Owner Name Change
OPL – Operation of Law
OT – Other
PM – Preferred Mortgage
PR – Personal Representative
RCVR – Receiver
SB – Subordination Agreement
SCL – Satisfaction of Claim of Lien
SMTG – Satisfaction of Mortgage
SPM – Supplement to Mortgage
SPPM – Supplement to Preferred Mortgage
TBE – Tenants by Entirety
TIC – Tenants in Common
TI – Transfer of Interest
TSTE – Trustee
TSTM – Trustee, Mortgagee
UTA – Under Trust Arrangement
WVR – Waiver
Here are a few other abbreviations you might encounter as part of the process of examining your Abstract of Title:
AT – Abstract of Title
CFR – Code of Federal Regulations
COD – Certificate of Documentation
COO – Certificate of Ownership
FAQs – Frequently Asked Questions
IMO – International Maritime Organization
NVDC – National Vessel Documentation Center
USCG – United States Coast Guard USC or US Code – United States Code
US – United States
NOAA – National Oceanic and Atmospheric Administration
OMB – Office of Management and Budget
Do you need help organizing your Abstract of Title? Do you have questions about what the abbreviations mean? You’re in the right place. Contact the US Vessel Documentation Center today for the assistance you need.
