Ads
related to: selling a boat with lien
Search results
Results From The WOW.Com Content Network
This means the lien treats the ship as the wrongdoer; however, the lien is said to "implede" [5] the owner into representing the res. 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.
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 rights of the salvor can be secured, in addition to maritime lien, by a right of possession over the yet-to-be-recovered property. When the ship is no longer in possession of its master, this salvor-in-possession status is granted to the first salvor who takes possession and demonstrates capability of a successful salvage.
Boat owners can clarify with an assisting vessel if the operation is to be considered salvage, or simply assistance towing. If this is not done, the boat owner may find that the rescuer may be eligible for a substantial salvage award if the salvor can show sufficient evidence that the vessel was in peril at the time, and a lien may be placed on ...
A yacht broker is a specialist who serves yacht or boat sellers and/or buyers as a representative for the sale or purchase of a yacht or boat. The yacht broker is paid an agreed commission by the seller to market the yacht for sale, field interest and inquiries from buyers, handle negotiations, attend inspection and water trial and ultimately, if successful, to attend delivery.
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 grounds upon which a ship may be arrested vary under the legal systems of different countries. But common grounds which may permit arrest may include: [4] damage to cargo carried by the ship
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
judicial lien—a lien obtained by judgment, levy, sequestration, or other legal or equitable process or proceeding. junior lien—a lien that is junior or subordinate to another lien on the same property. landlord's lien—a lien that empowers a landlord to seize a tenant's property and sell it to satisfy overdue rent.