Transport, Shipping Trade Web Course. Season 2: “We buy a yacht. What to check before selling?”
On July 30, 2020 at the third video-lesson on Transport, Shipping Trade Web Course. Season 2, organized by the Southern Ukrainian Office of the European Business Association in partnership with the International Legal Service Interlegal, we learned what documents should be checked before buying a yacht, what to look for and how to insure yourself during this agreement.
So, there are the following yacht documents to be checked: documents from the manufacturer; documents on the history of transfers of property rights; documents confirming registration; documents confirming compliance with standards; tax and customs documents. Also, when buying and selling, be sure to pay attention to the presence or absence of: lawsuits, enforcement proceedings, debts to suppliers, crew , marina or bunkers, registered encumbrances (mortgage, pledge), inventory or specification, statistics of insurance losses, reports on surveys etc.
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