Certificate of Documentation (COD) – a USCG issued document that is internationally recognized as proof of ownership and proof of national origin of the vessel.
Hull Identification Number (HIN) – issued by vessel or boat manufacturer, permanently on hull
Official Number – coast guard issued, linked to HIN and stays with the vessel
Preferred Ship’s Mortgage (PSM) – Put the lender first in line of the creditors in the event of a default or bankruptcy. If the owner of the boat goes belly up, there is a list of creditors against the bankruptcy case, the PSM prefers the lenders note is first in line to be paid.
Abstract of Title (A/T) – When a boat is documented with the USCG a permanent file is created. This file records the chain of ownerships, mortgages, satisfactions and liens. The abstract is only as good as the information that has been filed with the USCG.
Builders Certificate – A document issued by the manufacturer that contains specifications proving that the vessel is compliant with federal regulations and safety standards.
Bill of Sale – purchase agreement
State Title – an ownership document
Registration – license to use
Transfer of Title – Transfer of ownership via bill of sale, death, gift of deed or estate
Title Assurance – Abstract of Title, Uniform Commercial Code (UCC) search- shows if a person has used the boat as collateral for anything else, utilize tools to assure that ….
State Title Searches – Uniform Commercial Code (UCC) Search
Title Research – A deep dive detective search
Claim of Lien – When you don’t pay a bill for a marine service (repair, storage, etc.). We file lien claims and clear them.