Federal · Title 46 — Shipping
46 U.S.C. § 31329: Court sales of documented vessels
Read the full statutory text
a person eligible to own a documented vessel under section 12103 of this title ; or a mortgagee of that vessel. the vessel must be held by the mortgagee for resale; the vessel held by the mortgagee is subject to chapter 563 of this title; and the sale of the vessel to the mortgagee is not a sale to a person not a citizen of the United States under section 12132 of this title . Unless waived by the Secretary of Transportation, a person purchasing a vessel by court order under subsection (a)(1) of this section or from a mortgagee under subsection (a)(2) of this section must document the vessel under chapter 121 of this title. The vessel may be operated by the mortgagee not eligible to own a documented vessel only with the approval of the Secretary of Transportation. A sale of a vessel contrary to this section is void. This section does not apply to a documented vessel that has been operated only for pleasure.
Verify at the official source: Federal legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.