British yachts, wherever situated in the world, may seek assistance from any of the many British Embassies and Consulates throughout the world.
On registration British Law applies to the yacht and the registration procedure provides conclusive proof of ownership of the yacht thus making the proving of legal title on transfer straightforward.
The Register contains all the vital details concerning its yachts and requires all legal mortgages to be registered there.
Consequently, by merely inspecting this public register, it can be ascertained whether a yacht is free from mortgage or not. This provides a two-fold bonus:
- Title can be easily inspected offering the buyer security as to title as well as enabling the seller to dispose of his yacht more easily and speedily.
- As the Register is open to inspection, it is easier and quicker to obtain mortgages by producing a transcript of Register to the potential mortgages showing conclusively that the vessel is free from encumbrances.
This article is intended as a general guide to the offshore services available in Gibraltar, and should not replace individual professional advice. One should always ensure that professional advice is taken both in Gibraltar and in any other country affected by the offshore structure.