What Boat Buyers Need to Know About the Abstract of Title

There are many things to keep in mind when you decide to buy a vessel. And one of the most important issues boat buyers need to know is the abstract of title. This document carries many complexities around. And getting a detailed information about those specifications can save you lots of time and a few headaches.

A very typical example of the importance of the Abstract of Title comes when you try to buy a new vessel. Many lenders are unable to approve a loan until they review the Abstract for that specific boat. Even if you purchased a vessel before, this can be an issue. You also need to know what information is listed on the Abstract, and if it’s available for all boats.

Technical information about the Abstract of Title

The Coast Guard Abstract of Title is basically a record of all the documents submitted to the Coast Guard for a specific boat. These documents must be accepted as records by the Coast Guard. A boat buyer can get an Abstract directly from the Coast Guard’s National Vessel Documentation Center. Another option is to get it from a vessel documentation service, like the one we offer at Vessel Documentation Online, LLC

Many people think the Abstract is a vessel title history. Although it may contain that information, it’s not exactly like that. What boat buyers need to know about the Abstract of Title is that it lists only materials accepted for recording by the Coast Guard during the time the vessel was documented by this entity. There may be longer periods of time that are not accounted. An example of this is if the boat was never registered in a state or in another country.

A wide range of information is listed on an Abstract. This information can be used for different purposes. The document identifies the vessel’s name, Coast Guard Number and Hull Identification Number. It also provides details of where, when and by whom the boat was built. A buyer should compare the Hull ID Number and Official Number on the Abstract with the numbers that are permanently marked on the boat. That way, this person can confirm that the numbers match. Any discrepancy may be evidence of a simple typo; or maybe a fraud or a crime.

Your Abstract of Title with Vessel Documentation Online, LLC

Now that you’re aware of all what boat buyers need to know about the Abstract of Title, you can get the process done at Vessel Documentation Online, LLC We created a registration system that is easy and fast for you. All Abstracts of Titles are processed at time of submission. To acquire an Abstract of Title to furnish proof of the completion of an application, or mortgage/instrument, you can apply after the applicable application has been processed.

If you need more information you can call us at 1-866-981-8783 or send us an email to submissions@nvdcrenewal.us . We’ll be more than happy to clarify any doubts or concerns you may have.