If you own a boat or are buying a boat and you want to know if you can change the boat name at the same time that you change the hailing port, the good news is that it’s not hard to do. Doing both together takes some of the time and effort involved away and…
USCG News
Five Essential U.S. Coast Guard Requirements for Identification
If you own and operate a boat that is registered with the United States Coast Guard, there are certain documents and proof of identification that you must have on file. This is for your own protection, but also for the benefit of others on the water. Coast Guard registration ensures assistance if you have an…
Preferred Ship Mortgage Form: When Securing Financing Against a Boat
Are you planning to purchase a boat? If you are, then you may need to secure financing. That is if you do not have the full amount in cash. Financing lets you spread out the cost of the boat over some time through regular loan payments. It enables you to acquire the boat that you…
Understanding the Maritime Lien
A maritime lien is much like a lien on any other property. It’s a legal proceeding that allows a boat to be seized if the debt for the vessel isn’t paid. That means that someone who buys a boat but stops making payments may have that boat taken by the authorities. If the boat wasn’t…
Understanding the CG 1340 Bill of Sale
Anytime you buy or sell a boat that is registered with the United States Coast Guard, you must have a bill of sale document that transfers ownership. Called the CG 1340, this form can be found and submitted online. Filing the paperwork promptly can save you hassle, as well as fines and penalties. Understanding the…
Buying a Boat? Get a Preferred Ship Mortgage
Much like buying a home or vehicle, purchasing a boat often requires financing. This involves taking out a loan that you will make monthly payments on until it’s paid off. Also like financing a home or vehicle, there are several kinds of loans you can use to buy a boat. Paying cash is the best…