A mortgage is a legal document that creates a security for a loan or other financial consideration, whereby, the registered vessel or share or a share of it is used as security. The person using the vessel as security and receiving the loan is called the mortgagor. The person taking the vessel as security and usually giving the loan is called the mortgagee. Only vessels registered in the Canadian Registry of Vessels can have mortgages recorded against them.
Vessel Registration FAQs
How Can I Send My Paperwork to You?Which Vessels Have to Be Registered and Licenced?HOW LONG IS THE CERTIFICATE OF DOCUMENTATION VALID?Where Can My Port of Registry Be? What are the Requirements for Registration? What Information Do I Need to Apply for Historical Research of a Vessel?HOW DO I CHANGE THE NAME OR PORT OF REGISTRY OF MY VESSEL?Anyone Over 16 Can Apply for a Pleasure Craft LicenceWHAT IS A MORTGAGE?HOW DO I MARK MY VESSEL?MAY I RENEW MY DOCUMENT EARLY?WHAT IS REGISTRY?How Do I Prove Ownership of My Vessel? ARE THERE DIFFERENT TYPES OF DOCUMENTATION?HOW DO I KNOW IF MY VESSEL MEASURES FIVE NET TONS?WHAT HAPPENS TO THE VESSEL WHEN ONE JOINT OWNER DIES?What is a Bareboat Charter?HOW DO I KNOW IF MY VESSEL MEASURES FIVE NET TONS?CAN MY VESSEL BE REGISTERED AND LICENCED?Can I Request My Documentation is Prioritized?