USCG documented vessel change of ownership

USCG Documented Vessel Change of Ownership & How to Complete

Have you reached the point where it’s time to take on new owners for your vessel? Is someone transferring the ownership of their vessel to you, or are you transferring the ownership of your vessel to someone else? These are important, private matters between people. However, they also have to be properly documented, too. There could be penalties and repercussions if they aren’t handled the right way, and that’s the last thing that anyone wants. Here at our vessel documentation center site, you can find the right USCG documented vessel change of ownership form for your needs. 

USCG Documented Vessel Change of Ownership

The easy, “flip” answer to this is: “yes, I need this form when transferring ownership of my vessel to someone else.” Yes, that’s what this form is for. But, it also has plenty of other uses, too. For example, it’s the right form to use when you’re transferring ownership not to someone, but rather multiple people – such as a company or trust. Additionally, this is the form to utilize should you need to remove or add your spouse, partner, and so forth. If you’re selling the vessel, odds are this form is going to be necessary as well. Really, those are just a few of the reasons that you might need this form. 

What to Do If There’s a Lien 

Selling a vessel that has a mortgage or lien on it is a bit more complicated than just selling a vessel that’s been paid off. Obviously, if you pay off the vessel lien or mortgage, then there’s no extra step. However, if there’s an outstanding lien or mortgage, then it gets a bit more complicated. In that case, you have to get permission from the mortgagee (i.e. the lender) to complete the transfer. This makes sense if you think about it: they have a stake in the vessel, so to speak, so they should have a say in terms of who the owner is. If you have any questions about this, we’re happy to answer them. 

If You Just Bought the Vessel… 

If you just purchased the vessel, first off, congratulations! In this moment, everything might be a “whirlwind.” in a very real way, this is the “honeymoon” era of owning a vessel, right after you get it. That said, you want to check to make sure that the documentation is taken care of, that it’s in compliance with the Coast Guard, and so forth. If you go to our site, you can find all of the forms that you’ll need for the course of vessel ownership.

Beyond the USCG Documented Vessel Change of Ownership Form 

When we say “all of the forms you’ll need,” that’s not an exaggeration – that’s the truth. From the moment you purchase your vessel, through getting that initial documentation, renewing it, taking out a mortgage on it, or even bringing on other owners (or removing them) on your own, you can find it all right here at our site.