A preferred mortgage is a mortgage which is given status as a maritime lien. As such it enjoys a certain priority in the event of default. In addition, the Coast Guard is prohibited from making certain changes in documentation including, but not limited to, change of vessel ownership, name, and hailing port without consent of the mortgagee. For this reason many financial institutions require vessels which are eligible for documentation to be documented and to have preferred mortgages recorded against them.
You may obtain an Abstract of Title which will show all bills of sale, mortgages, and notices of claim of lien filed and recorded by the Coast Guard. You may request an Abstract by navigating to the following page: Abstract of Title
NO, simply sign, date and return the Renewal of USCG Documentation Notice even if your address has changed. Please note the address change. You will receive a new certificate that shows your new address.