Do you want to secure a boat loan but don’t know how? Has financing your vessel been a bit trickier than you might like? That’s where a Preferred Ship’s Mortgage (and then later, a Satisfaction of Mortgage form) can come in quite handy. With these forms (and others) you can get that loan you need to secure financing for the boat of your dreams. Whether you’re using your vessel to make money or just to have the time of your life, our forms can put you in compliance the right way.
Satisfaction of Mortgage Form
To get a mortgage/secure a boat loan on your vessel, you’re almost assuredly going to need to document it. Indeed, most lenders (i.e. banks) are going to need to see that your vessel was documented before offering you some kind of loan. As with all of the other forms mentioned in this blog, you’ll be able to find it at our site. Indeed, if you go to our site as of this writing, “Initial” is at the very top of the page, as it’s one of the most common uses of our site.
The Preferred Ship’s Mortgage
This is the form that will cement that mortgage that you want. However, it’s not like you can just fill out this form, send it to us, and voila, you have a mortgage on your boat. You need to sign it and get it acknowledged by a notary public. It also has to include your address as well as the address of who’s giving you the boat loan. Plus, you need to include all of the information about your vessel on here: the vessel’s name, official number, and so forth. With all of that, you can get the boat loan that will make your boat truly yours.
Satisfaction of Mortgage Form: Vessel Ownership
It’s been said that there are two truly happy days of owning a boat: the day you buy it and the day you sell it. That’s a bit cynical, and even if someone were to believe that, there’s definitely a third happy day: the day you pay off your mortgage. This is a real accomplishment. There’s nothing like that first time you take your boat out and it starts to sink in you won’t have to pay the mortgage anymore. This form makes it official.
Other Vessel Forms You Might Need
The above is a common path, one that’s been followed by vessel owner after vessel owner for many, many decades on end. However, there are plenty of other forms that you might need in the course of vessel ownership, too. You might move and thus need to change your address. Perhaps you decide to add a new owner to the vessel or one decides that they don’t want to be a part of things anymore. We have all of those forms and anything else you’ll need for your vessel and if you have any questions, contact us here.
