SSR (Part III Registration)
JHP
mortgage. Can anyone tell me whether the existence of the mortgage prevents
me re-registering the boat on the SSR? This seems to have been the case in
1998 (RNSA Yearbook) Is it so now?
Many thanks,
John
Colin
just about anything else! You simply need to apply for registration, sending
a copy of the Bill of Sale if you have it.
Please note !!! SSR is NOT proof of ownership, in any way. It is simply a
piece of plastic, to satisfy the French, and others, that your vessel is
British. In fact, because it is so loose, it is also used by foreign owners,
to avoid taxes etc in their own country.
I am not sure why you would buy a boat with an outstanding mortgage?
Regards
Colin
"JHP" <john.powell1@(nospam)virgin.net> wrote in message
news:LUam6.25286$MN.6...@news2-win.server.ntlworld.com...
Rainer Thonnes
"Colin" <co...@michaelschmidt.co.uk> writes:
>"JHP" <john.powell1@(nospam)virgin.net> wrote
>> I am about to buy a boat with a current SSR No using an unregistered
>> mortgage. Can anyone tell me whether the existence of the mortgage
>> prevents me re-registering the boat on the SSR? This seems to have
>> been the case in 1998 (RNSA Yearbook) Is it so now?
>
>piece of plastic, to satisfy the French, and others, that your vessel is
>British.
>
The way I understood his message is not that there is an outstanding
mortgage by the seller, but that he was planning, as buyer, to take
out an unsecured mortgage (which is actually a contradiction in terms,
he presumably means an unsecured loan).
Since the loan is unsecured, i.e. not recorded on any register, there's
no reason why he should not re-register the boat on the SSR, if indeed
it is the case that the old registration automatically lapses on
change of owner, which would surprise me, since it does not record
ownership.
Certainly the part I register does not encourage re-registration.
Instead you just record a change of ownership. It is the intention
of the Registry that where a ship's registration has lapsed, and is
then re-instated, that the vessel's original reg no is re-used, i.e.
remains with the vessel for (its) life, surviving periods of non-
registration. I would have thought the same is true of the SSR.
The thing is, though, that unsecured loans cost more than secured ones,
and two options JHP may like to look into are, first, to have the
boat put on the part I register, which means a marine mortgage could
be secured on it. The disadvantage is that initial registration can
be expensive. The second possibility is to secure the loan against
spare equity in his house.
JHP
Rainer Thonnes <r...@dcs.ed.ac.uk> wrote in message
news:97dorv$4lm$1...@kane.dcs.ed.ac.uk...
Thanks to you both. Just to clarify, I'm taking out an *unregistered*
mortgage (slip of the pen) for 6 months while waiting for insurance policies
to mature. A nuisance, but better than losing a good boat.
I'm not after ownership registration, in fact, just an ensign warrant, for
which I need Part 1 or 3..
Thanks again.
John
Graham Frankland
Colin wrote in message <97dc1r$bev$1...@plutonium.compulink.co.uk>...
>Please note !!! SSR is NOT proof of ownership, in any way. It is simply a
>piece of plastic, to satisfy the French, and others, that your vessel is
>British. In fact, because it is so loose, it is also used by foreign
owners,
>to avoid taxes etc in their own country.
The SSR specifically excludes "foreign" owners from registering.
Graham.
Colin
Forms, using a UK address, and signs to say he is eligible - no checks are
made, and he gets his most impressive plastic laminated card, which he uses
to avoid taxes, and other compulsory formalities and costs, in his home
country.
I know it is not legal - but it happens.
Back to the original point - as the SSR is not interested in loans, liens,
mortgages etc, there is no problem with the registration in question.
Regards
Colin
"Graham Frankland" <gdf...@globalnet.co.uk> wrote in message
news:t9ld8jt...@xo.supernews.co.uk...