Sales between individuals - License or Registration ?
A boat displaying a number on the hull such as 10D12345 or ON12345 has a licence.
The licence is not a proof of ownership.
The certificate of registry represents a valid title.
It helps to confirm the ownership of the vessel.
It allowes maritime mortgages (good interest rates, etc.).
The name of the boat and the port of registry are written on its hull. A carving plate displaying the registration is fixed inside.
In all cases, a Search on titles is required to ensure the seller’s quality of the title and to find out if some debts exist on the boat.
Some buyers have learned too late that a creditor had a security against the boat they bought and paid.
Contact one of our Marine Advisors for more details !