A mortgage on a vessel may be recorded even when the vessel is provisionally registered.

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).

Procedure for Registration of Mortgages

To register new Mortgage, the following documents are required:

1. 2 sets of Notarised Mortgage Deed (M4) reflecting new mortgage contract details, signed by mortgagor.
2. Notarised True Copy of Mortgage Agreement.

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.

It is recommended that a copy of the mortgage deed is provided to the Registry for checking purposes before original is provided. The Registry can confirm the provisional date/time of the Registration of Mortgage (if required).

Upon submission of the original Mortgage Deed and Mortgage Agreement, the Registry will record the mortgage and provide the Certificate of Mortgage; 1 set of the recorded Mortgage Deed (M4) will be returned to your office.

Procedure for Discharge of Mortgages

To discharge the Mortgage, please submit:

1. Original Mortgage Deed(M4) showing mortgage is discharged by mortgagee in the relevant section.
2. Copy of Mortgage Agreement showing mortgage has been discharged.

A copy of the Mortgage Deed will be kept by the Registry and the original Mortgage Deed will be returned to the applicant.

For a copy of the Kiribati Merchant Shipping Act, please click here.