Kissel LLP

Due diligence Demonstrating title or legal ownership How does one demonstrate title to or legal ownership of a vessel registered under the laws of your jurisdiction? Vessels - at least most commercial vessels and, in some instances, pleasure craft - are registered under the laws of the United States with the United States Coast Guard.

Ship mortgages and other liens over vessels Types of ship mortgage What types of ship mortgages exist and what obligations may a ship mortgage secure? Can contingent obligations, including swap obligations, be secured? Are there standardised forms? Liberia follows the American model of ship mortgage that combines the required grant of a mortgage with covenants, representations, warranties, events of default and other provisions. There are no standardised forms.

Ship mortgages and other liens over vessels Types of ship mortgage What types of ship mortgages exist and what obligations may a ship mortgage secure? Can contingent obligations, including swap obligations, be secured? Are there standardised forms? There is no prescribed form of mortgage in the US. Unlike the English model, there is no statutory short form accompanied by a deed of covenants.