In its most basic sense conveyancing is the transfer of legal title of property from one person to another.
Although more commonly associated with the legal transfer of land and real estate the fundamental principles of conveyancing are relevant to the purchase and sale of yachts.
Oceanskies can assist owners with the initial purchase of a yacht and its eventual sale either by working in tandem with marine lawyers or on a standalone consultancy basis to ensure that the documentary aspects of the transaction are handled correctly.
Examples of our conveyancing services include:
- Consultation, drafting and provision of new build construction contracts
- Effecting ‘Ship Under Construction’ and/or provisional registration documentation
- Appointment and coordination of owner build representatives such as project managers, surveyors, technical specialists and crew
- Drafting and review of Builder’s Certificate and supporting vessel documentation
- Attendance at handover to accept delivery of title to the yacht
- Effecting full yacht registration and documentation so that the new owner is able to quickly sail away from the yard to enjoy the vessel.
- Consultation, drafting and provision of pre-owned sale and purchase agreements
- Conduct yacht title searches to check against mortgages and any other liens or encumbrances registered against the vessel
- Conduct checks on goodstanding of the seller if a corporate structure
- Perfecting historic chain of title and ownership history
- Examing and review of the yacht’s tax status, checking for example the validity of a ‘VAT Paid’ staus
- Appointment of independent surveyors and engineering specialists
- Drafting of Bill of Sale from the seller to the buyer
- Requesting and drafting/provision of seller documentation in support of the Bill of Sale
- Assistance with deletion of vessel from its existing registration
- Attendance at completion meeting/handover to accept delivery of title to the yacht and accept delivery of seller’s supporting documentation.
- Effecting provisional and/or full registration and documentation of the yacht so that the new owner is quickly able to navigate and enjoy the vessel.
We would strongly encourage owners to contact Oceanskies at the earliest possible stage in the yacht acquisition process, ideally following the selection of a particular yard or vessel but before any contractual arrangements are entered into.