GLOSSARY and FAQs
GLOSSARY
Certificate of Documentation (COD)
A USCG issued document that is internationally recognized as proof of ownership and proof of national origin of the vessel
Preferred Ships Mortgage (PSM)
puts the lender first in line of the creditors in the event of a default or bankruptcy. If the owner of the boat goes bankrupt, there is a list of creditors against the bankruptcy case, the PSM prefers the lenders note to be first in line to be paid
Bill of Sale
purchase agreement
Transfer of Title
transfer of ownership via bill of sale, death, gift of deed or estate
Claim of Lien
when you don’t pay a bill for a marine service (repair, storage, etc.). We file lien claims and clear them
Hull Identification Number (HIN)
issued by vessel or boat manufacturer, permanently affixed to the hull
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
State Title
an ownership document
Title Assurance
title assurance refers to the written proof of ownership for example an Abstract of Title or Uniform Commercial Code (UCC) search
Official Number (ON)
coast guard issued, linked to HIN and stays with the vessel
Builders Certificate
a document issued by the manufacturer that contains specifications proving that the vessel is compliant with federal regulations and safety standards
Registration
license to use your vessel
State Title Searches
Uniform Commercial Code (UCC) search
FAQs
Why should I document?
See our Services page
Why should I pay someone to do something I can do for free?
Dense legal jargon, confusing government regulations and bureaucratic protocol, complex circumstances… Documenting a boat is stressful and tedious.
We speak the language. We know how it works. Let us get you on the water fast. We work with people every day who have lost months of time they could have been spending enjoying their boat, if they had filed their documents correctly the first time.
Someone died - what do I do with the boat?
Call us, we can assist.
I’m buying a boat - what do I do?
Call us, we can assist.
I’m selling a boat - what do I do?
Call us, we can assist.
Do you do foreign documentation? Canada, BVI, UK, Cayman Islands?
Yes. Our staff specializes in international registration.
What happens if my boat has a claim against it?
This is a complicated scenario , depending on many factors. Call us, we can assist.