When title to a documented vessel has passed by reason of an extra-judicial repossession
and sale, such passage must be established by:
(a) A copy of the instrument under which foreclosure was made;
(b) An affidavit from the foreclosing party setting forth the reasons for foreclosure,
the chronology of foreclosure, the statute(s) under which foreclosure was made, and
the steps taken to comply with the relevant instrument and statute(s);
(c) Evidence of substantial compliance with the relevant instrument and statute(s); and
(d) A bill of sale which meets the criteria for filing and recording set forth in subpart
P of this part from the foreclosing party as agent for the defaulting owner(s).
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.