When a mortgage or lien is satisfied on a property you own, you receive documentation that reports the lien has been satisfied. This is a legal document that is important to you for your records. Just like satisfying a mortgage for your home, liens on your personal or commercial boat need to be satisfied as well. When all the requirements have been met, you need to submit this information to the Coast Guard. To do that, you will need to use the Satisfaction and Release form that the Coast Guard supplies.
Gathering Information for the Satisfaction Form
You want to make sure you have all the accurate information you need to show that the liens or mortgage in question has been satisfied. You can access the appropriate forms directly on the Coast Guard’s website and fill everything out for submission. You need to make sure you have the information regarding the date, the mortgagor, the amount satisfied and other pertinent detail for the form. Once you have filled in the information and signed the form, it should be notarized before you submit it for approval and recording.
Getting Help with the Satisfaction Form
Looking at the Satisfaction and Release form, you may find it a little bit confusing regarding the information you need to provide. You want to make sure it is filled out correctly. That way, you won’t have any trouble when filing it and the information can be recorded properly. If you fail to provide information regarding the satisfaction of a lien, the mortgagee can face a civil penalty of up to $10,000. You may want to get assistance with the form so that you know the information is right and everything is filed with the Coast Guard promptly.
We Can Handle Satisfaction Forms for You
At Vessel Documentation Online, Inc., we provide you with the means to fill out and file a Satisfaction and Release form. You can access the form directly at our website, fill in the necessary information and file the form. We can have our experts check everything over for mistakes and then submit the application to the Coast Guard for filing. Using us to help you with the process can provide you with peace of mind and let you know that you have done what you can to follow the appropriate process for your vessel. For more information, please call us at +1 (800) 340-7580.
