Boat Lien
BoatWiki - Definitions
Definition
A boat lien can be broadly defined as the right to take action against a particular boat as settlement for a debt, obligation or liability. This differs somewhat from an encumbrance in that a lien may not always inhibit the transfer of a title or registration. Other terms which may apply to this definition are maritime liens, hidden liens, secured liens, perfected liens, and mechanic's liens.
Meaning
Boat liens may arise from any number of actions including both operational factors and contractual arrangements. Under maritime or admiralty law, there is also what is known as the hidden lien or in-rem concept where it may follow the boat through subsequent transfers of ownership even though unrecorded.
Context
In the marine industry liens and encumbrances are typically recorded according to the manner in which a boat is titled, registered, or documented. This may involve legal ownerships, registration flags, vessel mortgages, and Uniform Commercial code filings. Further information can be found in the WikiTags for this page.
Conclusion
Dealing with boat liens is not for the inexperienced or faint-hearted given the potential number of variables. Boaters with any such concerns may be well advised to seek the assistance of a boat titling professional or qualified attorney.
Credits and References
5/5/2022 - Page initiated by Team BoatWiki.
