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The maritime lien is a privileged claim upon maritime property which attaches to the res from the moment a cause of action arises. It remains "inchoate" [6] until the issuing of a writ. By remaining invisible from the moment of attachment, the lien is capable of surviving a change of ownership, even by a good faith purchaser.
In a ship mortgage or ship hypothec (civil law term, covering also a maritime lien), a shipowner gives a lender (or mortgagee) a security interest in a ship as collateral for a mortgage loan. Similar to other types of mortgages , a ship mortgage legally consists of three parts: the mortgage loan, the mortgage document (deed) and the rights ...
The buyer can claim against the seller for all consequences of claims made against the vessel which have been incurred before the time of delivery. If the ship cannot settle down all the mortgages and other claims attached to the ship before the delivery, the buyer can discharge the purchase price to cover this part of the claim.
A maritime lien is a lien on a vessel given to secure the claim of a creditor who provided maritime services or suffered an injury from the vessel's use. Maritime liens are sometimes referred to as tacit hypothecation .
[1] [2] The ship is detained by judicial process for the purpose of securing a maritime claim, or for unseaworthiness and certain other conditions. A ship may be "arrested" and detained in port by a court order in support of a maritime lien claim by creditors against the vessel. [3]
The claim would then be examined some time later at a "hearing on the Merits", either in court or before an arbitrator. One should distinguish between "arrest" and "detention"; the latter involves the detaining of a ship by a port using pre-existing powers of Port State Control or, in the case of a marina, simple contractual rights of lien.