Bill of Sale, and Agonies of Indecision -- Part 1 or SSR ?

sarabande

sarabande

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I am transferring sole ownership of my boat to joint ownership with my daughter (32 shares each). I am reasonably happy with the wording of the transfer and bill of sale.

Speaking with a MCA surveyor this morning, he has advised that Part1 registration is "belt and braces" and is likely to be regarded by port authorities and other nations' coastguards as a more impressive document than SSR. But there is nothing legal that is not covered by having a SSR completed with the RYA form.

Given the nature of Brexit and the risk of upsetting a European Coastguard if they decide to play by the rules, should I stick with Part 1 ?

T I A
 
Part 1 is without doubt a stronger registration and does give a clear audit trail - and the surveyor's comments are correct. But I would think SSR and Original Bills of Sale within the family would be ok. Just make sure you fully understand the difference between owning 32 shares each and jointly owning the boat (where you each own ALL of it). They are different and It has a consequence if anybody were to pass away. The registry are usually happy to explain over the phone.
 
Our boat is on the SSR in our joint names. The bill of sale we got when we bought it is also in our joint names (ie its for all 64 shares and names us both as the owners). This has not proved to be any sort of problem anywhere we’ve been, UK or foreign. I’d write a bill of sale naming both of you as owners rather than you owning 32 shares and your daughter owning the remainder. Then simply register in your joint names on the SSR.
 
sarabande said:
I am transferring sole ownership of my boat to joint ownership with my daughter (32 shares each). I am reasonably happy with the wording of the transfer and bill of sale.

Speaking with a MCA surveyor this morning, he has advised that Part1 registration is "belt and braces" and is likely to be regarded by port authorities and other nations' coastguards as a more impressive document than SSR. But there is nothing legal that is not covered by having a SSR completed with the RYA form.

Given the nature of Brexit and the risk of upsetting a European Coastguard if they decide to play by the rules, should I stick with Part 1 ?

T I A
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If you have part 1 and it is up to date, I would probably keep it, If not SSR should be fine.

I would speculate that the more your boat is worth the more attractive Part 1 is when you come to sell.
 
Is Part 1 registration one of the requirements to allow the mortgaging of a vessel? I seem to remember that that was one of the advantages when I last did my research.
 
jonic said:
Part 1 is without doubt a stronger registration and does give a clear audit trail - and the surveyor's comments are correct. But I would think SSR and Original Bills of Sale within the family would be ok. Just make sure you fully understand the difference between owning 32 shares each and jointly owning the boat (where you each own ALL of it). They are different and It has a consequence if anybody were to pass away. The registry are usually happy to explain over the phone.
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This is a very important point!
 
Little Dorrit said:
Is Part 1 registration one of the requirements to allow the mortgaging of a vessel? I seem to remember that that was one of the advantages when I last did my research.
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I once had a marine mortgage and the company required the boat to be Part 1 registered so that they could place a charge on it.

Today, many buyers might find an alternative way of financing a boat (second mortgage on a house, etc) so Part 1 may be less important.
 
As Jonic says: 32 shares aech is different from joint ownership. I always say to retain Part I if already so registered.
 
jwilson said:
As Jonic says: 32 shares aech is different from joint ownership. I always say to retain Part I if already so registered.
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Plrase explain why you think Part 1 is beneficial over SSR for most UK boat owners (assuming not needing marine mortgage).

We are in the camp of SSR (15 years, 2 boats, 7 countries) and never had the slightest issue.
 
Part 1 gives a full record of owners and sales and allows people to see if there is any money outstanding on the boat , as said before if you are buying something worth a lot of money sometimes it feels and is re assuring to know all the details . for the lower end of the Market the SSR was introduced to take away the hassle and cost of Part 1 , this does not show part 1 info
 
FlyingGoose said:
Part 1 gives a full record of owners and sales and allows people to see if there is any money outstanding on the boat , as said before if you are buying something worth a lot of money sometimes it feels and is re assuring to know all the details . for the lower end of the Market the SSR was introduced to take away the hassle and cost of Part 1 , this does not show part 1 info
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Lots of expensive £0.25m or so boats on SSR with no issues. Part 1 doesn't prove ownership. Good set of other paperwork does.
 
dunedin said:
Lots of expensive £0.25m or so boats on SSR with no issues. Part 1 doesn't prove ownership. Good set of other paperwork does.
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Part I registration
Register your boat on the Part I register if you want to:

  • prove you own the boat
  • prove your boat’s nationality
  • use the boat as security for a marine mortgage
  • register a pleasure vessel
  • get ‘transcripts of registry’, which show the boat’s previous owners and whether there are any outstanding mortgages
Your boat must have a unique name to be registered.

It costs £153 to register for 5 years.

Part III registration
Register your boat on the Part III (Small Ships Register) if you want to prove the boat’s nationality when sailing outside UK waters.

It costs £35 for 5 years.

To be eligible:

  • your boat must be less than 24 metres long
  • you must be a private individual (not a company)
  • you must live in the UK for at least 185 days of the year
  • your boat must have a name
For more information, read the full guidance notes.

You can make changes to an existing registration online, for example change of ownership, address or boat details.

You’ll be sent a renewal notice when it’s time to renew.
Register a boat
 
dunedin said:
Lots of expensive £0.25m or so boats on SSR with no issues. Part 1 doesn't prove ownership. Good set of other paperwork does.
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I’m sorry, but after a lifetime in merchant shipping I feel I ought not to let that statement pass without attempting to correct it.

A Transcript of the Part One Register is proof of title.

Nothing else is. You can write all the Bills of Sale you like and anything else for that matter but only a Transcript of the Register is proof of title.

That is why professional yacht brokers always provide one before completion of a sale of a yacht on the Part One Register.

Note that the Certificate of Registration is not proof of title. Only an up to date Transcript is that.
 
FlyingGoose said:
My post was direct from the Government website so I do not know about he residency rules , as EU nationals can register their boat and Overseas territory
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From the ssr site-
Please note that only individuals (not companies) can register with the SSR. If you are ordinarily resident in the UK, your vessel is less than 24 metres in length and it is not currently registered elsewhere (eg: with a foreign register or Part 1 of the UK Register), please press PROCEED to continue.
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https://mcanet.mcga.gov.uk/ssr/ssr/
Gov site prob out of date.
 
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