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Abstract Summary - Form
Abstract of Title - Definition
Certificate of Ownership - Definition



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Vessel Abstract Summary

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BoatWiki - Forms

Introduction


The vessel abstract summary form is designed to capture a snapshot of the most current and outstanding recordings on a USCG abstract of title into a condensed format. This includes such things as transfers of ownership, mortgages, lien claims, and related instruments. The form is only applicable to USCG documented vessels.

Context


Abstracts of title can be difficult to evaluate upon a quick examination, especially on older vessels with lots of recordings. The summary form makes is easier to identify only those filings that are still open and relevant to the current documentation status.

Source


This form is available from the BoatWiki repository in Microsoft Word format and is fielded for tabbing convenience. The form structure can be changed by choosing the unprotect option in the tools menu of your application. It must then be protected again in order to regain such function.

Instructions


Transfer the vessel identification numbers and other particulars from the abstract header.

Show the last owner of record after any prior transfer instruments if applicable. Be sure these do not contain any notations of cancellation or non-recordability.

Transfer any data from recordings that have not been offset by a release, satisfaction, or cancellation. Make sure the offset recordings do not contain any notations of cancellation or non-recordability.

Make notations in the comments section of any open recordings that have been assigned, amended, subordinated, or otherwise changed.

Conclusion


If unsure that all open recordings have been properly identified, you can order a certificate of ownership from the NVDC which serves the same purpose as this summary and is USCG certified. You may also wish to consider the assistance of a qualified vessel documentation service company. Please help your fellow boaters by wiki-sharing any comments or experiences wit this form.


Credits and References

7/14/2022 - Page initiated by Team BoatWiki.




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