Procedure for Registration of Mortgages

1. A mortgage on a vessel may be recorded even when the vessel is provisionally registered
2. In the case of a provisionally registered vessel, the mortgage will only be registered upon confirmation that the mortgagee (e.g. bank, shipyard etc) has sighted the documents of title of Ownership (e.g. Bill of Sale).
3. Upon submission of Mortgage Deed and Mortgage Agreement, the Registry will confirm the provisional date/time of the Registration of Mortgage.
4. Upon receipt of the original Mortgage Deed and copy of the Mortgage Agreement, the Registry will endorse with the same date/time as above and check on the priority of mortgages.
5. A Certificate of Mortgage Registration is issued and a copy of Certificate of Mortgage Registration and Mortgage Deed will be kept by the Registry. The Original Certificate and Mortgage Deed will be returned to the applicant.

1. Submission of original Mortgage Deed showing mortgage is discharged by mortgagee.
2. The Registry will discharge the mortgage on the Mortgage Deed.
3. A copy of the Mortgage Deed will be kept by the Registry and the original Mortgage Deed will be returned to the applicant.