Although pleasure craft and fishing vessels are not legally required to be registered, there are benefits and safeguards provided to you when your ship is registered.
Registration of title in the vessel
Registration of a vessel records your ownership and title over a vessel. This cannot be overturned by the holder of an earlier interest in the vessel unless you had notice of that interest when you purchased it.
Australian nationality for the vessel
When a ship is registered in Australia it receives legally recognisable Australian nationality and is accorded Australian protection on the high seas and in foreign ports.
Use of the vessel as security for a mortgage
Banks and finance companies usually require a vessel to be registered before they will lend money using the vessel as security.
Ability to sail overseas
It is an offence for an Australian-owned vessel to sail for a foreign port unless it is registered.
Vessels purchased overseas by Australians are also required to be registered before they sail for Australia or another foreign country.
Easier re-sale
Registration will make re-sale easier and may add value to your vessel because the purchaser can be assured of the sellers 'good title' over the vessel.
Buying a registered vessel
The register contains a chronological history of the ownership of the vessel. Your interest in the vessel cannot be registered until all previous owners have been recorded in the register.
If you are buying a registered vessel, follow the steps below to complete the sale:
Apply to the Shipping Registration Office for details of the current registered ownership and any caveats that may be registered.
Check that the person selling the vessel is the registered owner. If not:
Make sure the seller is entitled to be registered as the owner.
Request the seller provide documents and fees to have the ownership and any previous unregistered owners entered onto the register.
Make sure the seller provides you with a completed Bill of Sale.
Make sure the seller provides you with the original registration certificate.
Send completed forms together with the registration certificate, correct fee and other documents and fees relating to any other unregistered changes of ownership, to the Shipping Registration Office.
Buying an unregistered vessel
If you are considering buying an unregistered vessel, make sure the seller is entitled to transfer ownership.
If you intend to have the vessel registered, make sure you have all the information and documents concerning the build of the vessel and changes of ownership that are needed for registration. You can request these from the seller. You may also request the seller register the vessel before the sale takes place.
Ship's mortgages
The Shipping Registration Office no longer registers or discharges ship’s mortgages.
For a ship mortgage you should contact the Personal Properties Securities Register.