Part one registered

PCUK

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Part One means the vessel is registered on the UK register of shipping. (Once called Lloyds register). This is the official register which proves ownership and nothing to do with the Small Ships Register.
 

Searush

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If a boat is pt1 registered, then any marine mortgages outstnding should be recorded by the MCA. It cost around 50 squid every 5 years to renew & a further 35 ish to change any boat details - including any change of ownership.
 

Adrianwool

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The relative merits (or otherwise) of part one have been discussed at some length on this forum in the past. I did it because I keep my boat in Portugal where there is a love of officaldom, and the more bits of paper you have the better.
If in the UK I would probably only bother with SSR. If you have 5 years worth of history for the boat you can do the process yourself for somewhere in the region of £150. A marine lawyer will charge you significantly more to do the work, I was quoted £600. You of course have to have the boat offically measured by a surveyor, I done this when I had the boat surveyed at purchase time. It gives a future purchaser a way of checking there are no liens on your vessel.

It suited me to be part one registered but it is not necessary for everyone depends on circumstance
 

Imperial One

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If you own the boat outright, a part 3 or SSR is good enough for most people. Do it online, it is cheap and easy to do.
No need to employ any legal help at all.

If you have a boat (or are buying one) with a marine mortgage then it will almost certainly be registered on part one and as such it is easy to check there are no loans or other charges outstanding against it.

Call me for a chat if it helps at all....back in the office on Tuesday!
 

epervier

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Thank you for your input

the reason I posed the question, is that my own boat I registered as part III, just to give more provenance to the ownership, as I owned 64/64ths no finance houses involved,

I am now looking at a boat and the specs the owner sent says his boat is part I registered, does it follow that being part I registered there is finance interest on this boat?
 

Tranona

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No. It is quite common to put a boat on the Part 1 Register because the owner values the formal recording of ownership. It can also ease a sale when the purchaser requires finance. When you do your due dilligence on the boat you will be told by the registrar whether any mortgage is registered against the boat and the transfer to you cannot take place without the mortgage being paid off. If you are buying through a broker, you would expect him to deal with all this. If buying privately then suggest you consult a source such as the RYA on the process or pay a broker to do the paperwork for you.
 

Searush

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It may have been Part 1'd for a mortgage at one time, but not necessarily. But the MCA will tell you if there is any outstanding debt registered against the boat (for a small fee!)

When I notified the MCA that I had re-engined SR, they asked for a copy of the paid invoice to show that there was no debt. But that doesn't guarantee that there isn't debt elsewhere with a marina bill, or similar unpaid.
 
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