Are you looking into a vessel that you’re interested in, but aren’t sure if you can trust the information you’ve come across? Have you been talking to a motivated seller and want to make sure that what you’re hearing isn’t “too good to be true?” Those are just some of the reasons that vessel owners from all walks of life get an abstract of title. This form is different from many of the other forms that we offer, in that you aren’t applying for a certain registration or qualification. Instead, with a vessel Abstract of Title, you want to learn the truth, the whole truth, and nothing but the truth.
The Owner (and All the Other Owners)
An abstract of title provides the entire chain of ownership for a vessel. Obviously, you know the owner who’s trying to sell you a vessel. But, with an abstract, you can know everyone else who owned the vessel, too. Indeed, this might even be the kind of thing that the current owner may just not know themselves. Whether the owner is a person, several people in a partnership, corporations, limited liability companies, or anyone else – you can know everyone who had something to do with owning a vessel.
Mortgages and Liens
The reason that so many folks document their vessel in the first place is to get a Preferred Ship’s Mortgage. That can be a great way to finance a vessel that they might not be able to pay for all at once. But, unfortunately, sometimes folks don’t pay off their mortgages, or liens that they might accrue. An abstract of title can tell a prospective owner that a vessel may have these encumbrances upon them before they purchase a vessel.
The History of the Vessel (and Your Future With It)
A strong majority of boat sellers are telling you the absolute truth about their vessel. They’re just looking to get an honest return for their boat. Unfortunately, though, there are a minority of owners who aren’t looking for that. Instead, they’re looking to “get one over” on trusting vessel owners who just want to be able to get a great boat. So, these unscrupulous owners may say that a vessel isn’t as old as it is, or maybe doesn’t have liens/mortgages on it that it definitely has or some other lie that would make the potential vessel sale more lucrative. An abstract of title provides prospective vessel buyers with the real truth.
Beyond the Vessel Abstract of Title
So many of our clients get a vessel abstract of title through our site and then end up getting so many other vessel documentation forms through our site as well. The next step very well could be to get that Certificate of Registration, or even to renew the documentation that it already has. A Preferred Ship’s Mortgage could help you with your vessel, and there’s nothing like the day you file the form through our site that satisfies that mortgage. To see all that we offer, head to our site.
