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  Topic Review (Newest First)
04-14-2004 04:44 AM
C.G. Documentation

This is how it goes....

My lender needs the boat documented so that they can legally put a lien on the boat. They have to be the initiator of the documentation (that is their policy not mine), however the Documentation will be in my name. Once the paper work starts going, the bank will finalize the loan asap. I will not have to wait until I have the documentation in my hands but only for the process to begin.

Thanks to all for your input. All the paperwork on my part is in as of yesterday and hopefully within 2 weeks, I can get started working on my new boat...

Happy Sailing
04-13-2004 02:39 PM
C.G. Documentation

Maestro, if you have purchased a previously documented boat you can go with a standard state title. if you decide to go with documenting your boat keep in mind that the wait is about 5 months. we applied for Documentation on our C-42 on Dec.5th and just recieved it this week.

04-11-2004 08:38 AM
C.G. Documentation

Boat registrations in Maine are (or used to be) done at the town Clerk''s office, with a dept. of Inland Fisheries and Wildlife sticker - dedicated funds as with snowmobiles, etc. I don''t think you could record any kind of a lien. Thing is, CG documentation gives the lender the ability to check any liens, ownership history, etc. in roughly the same manner as with a register of deeds in real estate. I believe the rationale from the lender is that they have a third party doing the procedure who will carry some level of liability if the title history ultimately proves defective in any way.
04-10-2004 04:59 PM
C.G. Documentation


At least in the state of Maryland, the Dept. of Natural Resources, which registers boats, DOES record liens -- just as the motor vehicle department does for autos. The lendor has all the leeway they need to seize a boat for nonpayment if they want to -- no need for the Coast Guard documentation.
04-10-2004 09:35 AM
C.G. Documentation

The lender wants it documented because they will have a recorded lien against the vessel through a federal agency. When I first documented my boat in 1992 or so, I called the CG (then in Boston, now in Falling Waters, VA) and for $90.00 it was as a done deal. No bank financing, and the coast guard gave me a "title" history and lien check on the boat. Then in 1996 I took out a loan with Key Marine (now boatloan or something like that). Never, ever again. I had to pay Hinckley Insurance $450.00 to do a the same title check AND pay the CG fee that I did myself in minutes a few years before. Royal scam. Thing is, it gives the lender the ability to lien the craft, again, with a specific recording location and the ability to foreclose with little effort if they so feel. There is a process for de-documenting a boat, but they probably won''t do it without clearing all liens and recorded interests first. Without CG documentation, similar to your auto registration with the Secretary of State or whomever, the lender would have no "official" recourse to retrieve the vessel. To my knowledge, the boat registration people in most states involve Fisheries and Wildlife and they don''t generally record liens.
04-10-2004 07:12 AM
C.G. Documentation

I concur with the other comments..documenting yourself is cheap and ridiculously easy but it will take three months or more to complete.

I suggest you find another lender...$450 for filling out one form? Unbelievable.

Good luck. Mike
04-09-2004 09:57 PM
C.G. Documentation

Suggest you get a loan from an outfit more used to dealing with boats. (e.g. Essex Credit, or some other outfit nearer you.) You might get a better rate, and they''re likely to let you do your own documentation. Documenting yourself - as stated above, is a LOT cheaper than paying someone else. It''s not much work, (like sending in a car registration) and the turn-around is probably the same for you or a "service" . I did it for our boat, which was complicated by our having five owners in a partnership. No big deal, as far as the CG was concerned. Very helpful, pleasant people over the phone or by mail.
04-09-2004 07:18 PM
C.G. Documentation


In my experience, lenders insist on documentation because they can charge exorbitant fees for a few minutes worth of work. It''s more profit in their pockets. No, you don''t have to do it, but it''s a good idea since the boat''s already documented. In some states (such as MD where I live), documenting the boat is cheaper in the long run than registering it with the state.

You can easily do it yourself. You fill out one form (usually), attach the bill of sale (form also on the website below), attach a check for $84 and then you wait. Here''s the link that has all the info:

If you have more questions, call the documentation office at 1-800-799-8362. They are most helpful. I just changed the documentation on a boat I bought last fall and it went through without a hitch -- and the PO had let the documentation lapse.

To answer other questions you had -- the yearly cost to renew the documentation is ZERO, nada, zip. Once a year they mail you a form to sign and return, and then you receive the new documentation paper shortly thereafter.

Oh, and the process takes about 3-4 months, not 10 days to two weeks. Whoever told you that is dreaming. I sent my paperwork to them in early Dec. and just got the new documents last week, which was faster than I thought it would be.
04-09-2004 02:56 PM
C.G. Documentation

The post you mentioned is on the Cruising Forums still and covered most of your questions. Short answer is: No you don''t have to Doc. unless someone, like lender or insurance (or commercial use & maybe if over certain displacement?) ,makes you. Going rate for service to document you is $400-$500, takes long time even if applying for transfer, like you would, to finalize. Other forum mentions new "expedited" service available, it''s not $500 a year.
04-09-2004 12:49 PM
C.G. Documentation

I know I''ve seen a post like this before but now that I am in the process of buying a new (to me) boat this has popped up. The boat is currently a U.S.C.G documented vessel. Does this mean that it MUST continue to be documeted by the new owner (me)??? My bank will not finalize my loan application unless THEY re-document the vessel for me (which will cost me another $''s not that it is a huge sum of money, but if the boat doesn''t have to have it why are they making me get the boat documented in my name?? If I have to get the boat documented, do I need to do this every year and pay $450 each year?? Or is this a 1 time thing, until I sell the boat?? PLUS, it''s 10 days to 2 weeks to get the boat documented BEFORE I finalize the loan and take over as the new owner....phew sorry for rambling on but I''m a bit anxious to get working on the boat and I keep running into roadblocks.

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