If you own a USCG vessel, you should have a copy of the abstract of title on hand at all times. Nevertheless, did you know that the USCG can take a while to process one? An abstract of title for your USCG vessel can be obtained for various reasons. An abstract of title is required, for example, if you want to purchase a secondhand vessel and ensure that it is clear of liens. Alternatively, an abstract of title can be used to verify the accuracy of the information on your insurance policy and serve as proof of ownership for an insurance company.
However, most individuals don’t know how long it takes to receive an abstract of title. Many people underestimate how long it will take and have to wait longer than they anticipated according to epa.gov. As a result, we’ve compiled this handy timeline for obtaining a USCG abstract of title. How long does it take to receive an abstract of title? And how can you make the process easier? That’s what we’ll cover in this blog article. As a result, keep reading for more details!
Make Sure You Have All the Necessary Paperwork Ready
The first step is to assess whether or not you need an abstract of title. There are some states where this isn’t necessary, and it may be more bothersome than it’s worth, so make sure you check with the appropriate local state office to be sure. You need to determine where you want to keep the certificate – this can either be kept in the state where you live or you can purchase a “reissue” of your existing title from the State of Purchase (if a similar vessel exists there), which is referred to as a Reissue Abstract of Title. The other thing to do is determine how much money you want to spend on the certificate. A “combination” property, which permits you to own property in two jurisdictions simultaneously, may also be an option for you to consider. Make sure you have all of the relevant paperwork available, including evidence of ownership and documentation of any repairs or alterations that have been performed on the vessel.
Contact Maritime Documentation Center, Who Will Help Guide You Through the Process
Being aware of the right procedure for obtaining an accurate marine title is vital from a legal aspect. Still, it is also essential when dealing with banks/lenders and buying and selling boats and ships in transit. If you are unfamiliar with nautical paperwork, attempting to navigate through them may seem intimidating to create a correct, unambiguous title. When getting an abstract of title for a vessel, the other step is to contact the Maritime Documentation Center (MDC). This organization will guide you through the process, supply you with all of the documents you will need to complete, and be acquainted with all of the organizations you will contact. We are experts in the verification of branch of title and ownership and vessel and regulatory compliance history.
Allow Enough Time for The Agent to Gather All the Information Needed for The Document
Every boater is interested in knowing how long it will take to receive an abstract of title for their vessel. The reality of the matter is that you should give sufficient time to process your vessel’s title. The duration of the procedure varies based on the service provider and the quantity of information that is supplied. Because of technological advancements, you may do a few actions to reduce the time required by providing current information from prior ownership. When applying for a loan or transferring ownership of your vessel, many individuals forget that they will need an abstract of title prepared to complete the transaction. In this case, both the lender and the future owner will benefit from this documentation. Understanding how to get these papers will put you in a better position to proceed with your financing plans or sell your yacht in the future.
Why Choose Us in Getting an Abstract of Title
Getting your vessel’s legal title is complex, as you can see, and there is a lot to keep track of. You must follow the outlined guidelines to submit a successful application, given the possible difficulties. The Maritime Documentation Center (MDC) has successfully received USCG abstracts of title for various boats and is the most respected firm with which to do business in the maritime industry. They respond to your questions and concerns in a timely way, even if you phone at the last minute on the weekend or during a holiday. In less than 72 hours, they have your abstract done by a professional surveyor, allowing you to sell your vessel quickly and effectively. The costs charged by MDC are also modest when weighed against the services provided. We are here to assist you! If you want to learn more, please call us at (800) 535-8570.