Maritime Registry
Mortgage Recordation
Recording a ship mortgage so that a lender’s security holds.
A mortgage over a Dominica flag vessel takes effect against third parties when it is recorded on the register. Recordation fixes the date and time of the entry, which is what determines priority between competing interests.
To record a mortgage
Executed mortgage deed, notarised and, where required, apostilled.
Application for recordation signed by the owner and the mortgagee.
Evidence of the authority of the signatories on both sides.
Current transcript of registry.
Payment of the recordation fee.
Discharge and assignment
Discharges, assignments and amendments are recorded the same way. Lenders normally require a legal opinion confirming the validity and priority of the recorded mortgage.