Have you been trying to find the best way to research a potential vessel? Did you ever find yourself saying “just what is an abstract of title?” Does it seem like everywhere you go online, you can’t quite find a source of information you can trust? The internet is vast. There are more opportunities to purchase a quality vessel than ever before. Unfortunately, the downside is that there are plenty of bad actors, armed with misinformation, trying to rip you off and lead you astray. At our site, you can find the information you can trust that much easier.
So, What is an Abstract of Title, Then?
Basically, it’s more or less the complete history of a vessel. It contains so much that you might need to know about a vessel’s past. Moreover, it comes from the Coast Guard itself, so you know that it has governmental backing. An Abstract of Title typically contains the complete ownership chain of the vessel, when it was manufactured, who manufactured it, as well as if there were any liens or mortgages on the vessel. Additionally, it should tell you whether or not those liens and mortgages were satisfied, too.
Why Is That Important?
Well, it’s hard to imagine something that could put a damper on the excitement of buying a new vessel faster than discovering you’re suddenly on the hook for a mortgage or lien that you didn’t know about. Really, this form allows you to “know before you buy.” Instead of just having some of the information in front of you when you make a decision about purchasing a vessel, you can have all of the information. Moreover, you’ll have it from a source you can trust. An Abstract of Title does not come from a YouTube video, an online reviewer, a vessel owner you’ve never met, a dude on Reddit, or anything like that. Backed by the Coast Guard, it’s important information from a place you can trust.
OK, But the Vessel I’m Interested in Isn’t in America
We understand that sometimes, in your quest to find the perfect vessel, you end up going overseas. That can present even more challenges when it comes to finding the right vessel. To that end, we offer the “Foreign Vessel Title Search Request / Transcript of Registry form. This gives you essentially the same information as the Abstract of Title. But, you can use it to find out more about vessels in the UK, the British Virgin Islands, the Caymans, Bermuda, the Bahamas, or Canada.
What Other Forms Am I Going to Need?
For many, the Abstract of Title is the first form that they’ll use from our site. Then, once you’ve purchased the vessel, many others might come in handy. Often, the next form is the initial registration, or potentially the renewing of that registration. Then, it could be all about setting up a Preferred Ship’s Mortgage, or so much more. If you have any questions, you can reach us at (866) 981-8783.