VESSEL MORTGAGE
VESSEL MORTGAGE
Vanuatu Logistics enables mortgage recording against registered vessels and vessels under construction. Our recording procedures are straightforward and protect the interest of ship proprietors and mortgagees. To record a Preferred Mortgage with the Vanuatu Registry, we need three original duly executed Mortgage Instruments, an original or copy of a Memorandum of Particulars and authorization from the vessel owner.
Contents of record
A sale, conveyance, hypothecation, mortgage of any
vessel...
Recording of bills of sale
The Deputy Commissioner may accept for recording in his
office
Lien of preferred mortgage
A preferred mortgage shall constitute a maritime lien upon
the mortgaged
Conditions precedent to recording
A bill of sale, conveyance, or mortgage shall not be
recorded unless
Preferred mortgage
A mortgage which includes property other than a vessel
shall not
Interest on preferred mortgage
A preferred mortgage may bear such interest on an
obligation
Recording of mortgage
The Deputy Commissioner may accept for recording in his
office