Boat registration/ownership/insuarance payeein Charter

[Montanan]

Glad to hear it is all being put right.

Just can't understand how the charterer could have registered the vessel in their name given that it requires proof of ownership documentation to be able to process any registration, which proof documents, [e.g., transfer certificate from the manufacturer to the original purchaser for a new boat, or bill of sale from a previous boat owner] would have need to be presented.

Which country did the charterer register the boat with? The British Virgin Islands, the USA, other?
Each country register has its own requirements but they all require proof of ownership to derive some credibility to the inclusion of the boat into their national registry. Note that I state credibility, which credibility is definitely not a certainty of ownership.

Presumably since you paid cash the transfer certificate would have been to your name, not their name.

Either there was tremendous confusion on the parts of the charterer and / or the manufacturer or prior owner who sold the boat to you as to their providing documents to the charterer, or fraudulent activity, in either case, certainly does not sound proper.

Be sure that the insurance policy is kept current and has complete coverage and that you are the loss payee.

Hoping you will enjoy many great days of sailing on that fine boat. All the best.

[svgoodvibration]

Originally Posted by Montanan

Glad to hear it is all being put right.

Just can't understand how the charterer could have registered the vessel in their name given that it requires proof of ownership documentation to be able to process any registration, which proof documents, [e.g., transfer certificate from the manufacturer to the original purchaser for a new boat, or bill of sale from a previous boat owner] would have need to be presented.

Presumably since you paid cash the transfer certificate would have been to your name, not their name.

Either there was tremendous confusion on the parts of the charterer and / or the manufacturer or prior owner who sold the boat to you as to their providing documents to the charterer, or fraudulent activity, in either case, certainly does not sound proper.

Be sure that the insurance policy is kept current and has complete coverage and that you are the loss payee.

Hoping you will enjoy many great days of sailing on that fine boat. All the best.

It many all be just an oversight on their part. They are the dealer for FP, so my wire transfers went to Navigare, they pay the manufacturer, it gets registered in their name. At some point they should have notified me to transfer all the documents to my name. I could be wrong, but seems like a possible explanation. Heading to BVI end of the month for my 4th week in 4 months. Love this new hobby I discovered later in life!

[Montanan]

So a plausible scenario of the transaction is that Navigare as a dealer of FP, purchases the boat from FP, takes title to such vessel, then resales it to you, transferring title to the boat, but Navigare interposes the process of registering the boat with a nation state before transferring title to you as the owner.

If the transaction was a concurrent purchase of you providing payment in full and Navigare thence acquiring the boat from FP using your funds for the settlement with FP. Of issue, and this is very much jurisdictionally dependent is whether the nation state in which the two concurrent sale and purchase transactions occurred would require an immediate registration of the boat with the nation state before the vessel could be resold to you. Some jurisdictions require immediate titling and registration [note titling and registration are distinct and separate actions and requirements] and other jurisdictions allow a period of time before requiring titling and / or registration of change in ownership.

Dealers do not always need to take title to the product [e.g., vessel] that they sale to a customer [e.g., you], they can simply act as a facilitator / broker between the manufacturer and the buyer, gaining compensation either as a commission, or perhaps just as to gaining a charter boat for their fleet.

The important thing is that your title is clear of any and all prior titles.

[billknny]

Originally Posted by svgoodvibration

y. What they did is not normal practice.

I think everybody here understands that what Navigare did with your boat is "not normal practice" in the industry.

The question is: Is it "normal practice" for them?