You have always dreamed of buying a recreational boat of your own. You have seen large boats cruising out in the ocean, at the beaches or even in movies or on television and always imagined owning one of your own would be fantastic. Now that the opportunity is presenting itself to you, you should know that there is a great deal of paperwork involve in boat ownership, particularly for large vessels that may require documentation with the Coast Guard. As you start to familiarize yourself with all of the forms, documents, and filings that you need to handle, you may come across one that can be important to you. A notice of claim of lien is a very particular document that you may see attached to your ship, and you will want to know what it means.
Understanding a Lien
If you already have a mortgage for the home you own or own a car, then you are familiar with the concept of what a lien is. A lien is a legal notice of interest on a particular piece of property. It is most often placed on the property by a creditor so that they can ensure payment of the money that they are owed. In most cases, a lienis placed by your financial institution on the property you have secured a loan or mortgage for. This lien gives them the right, as the creditor, to take the property back into their possession should you ever default on the loan.
Learning about this Document
A notice of claim of lien is a document that is filed with the National Vessel Documentation Center, a branch of the Coast Guard. It is a maritime lien that indicates a lien was filed with the Coast Guard by another entity, claiming that there is money owed for work performed, repairs done or for a preferred mortgage on the vessel. The filing of this form with the Documentation Center does not guarantee that the lien is valid.
Help with Filing Documents
If you are in need of assistance in filing a notice of claim of lien or any other documents that need to be filed with the National Vessel Documentation Center, you can turn to us at U.S. Vessel Documentation for help. We are a third-party company that handles document processing, and our services are there to assist you along the way. If you would like to learn more about how we can help you, please visit our website.