Bought boat with a mortgage on it ( Hypothetical)

[ari]

So how could it be checked if the info isn't there?

[Brian Legal]

So how could it be checked if the info isn't there?

I never said that the system was perfect but Part 1 Registration is good proof of title. The HIN / CIN should have been there and (without wishing to say horrid things about the MCA) there must have been an error. Indeed the boat I looked at had been subject to a previous fraud.

If I am wrong on this I woudl love to hear from other owners who are Part 1 registered.

Brian

[ari]

I think it would be interesting to know how many boats have the HIN logged on the registration. You could have a rogue one, or it could be common place.

And if it's the latter then the advice to just check Full Part One is a bit meaningless since there is no reliable way of finding out whether a boat is on there...

[davidej]

We have had n (where n is a large number) of threads on this subject and the related one "what happens when the broker goes bust"

Anybody who has read them carefully should know by now that there is NO 100% foolproof answer.

But in reality, thousands of second-hand boat change hands each year.

Apart from the much-quoted case of B A Peters, does anyone know someone who has lost money this way?

[ari]

And thousands of people drove home tonight without crashing. But I bet you still put your seatbelt on.

This might be worth a read.

http://www.independent.co.uk/news/bu...s-1407306.html

[MYAG]

I never said that the system was perfect but Part 1 Registration is good proof of title. The HIN / CIN should have been there and (without wishing to say horrid things about the MCA) there must have been an error. Indeed the boat I looked at had been subject to a previous fraud.

If I am wrong on this I woudl love to hear from other owners who are Part 1 registered.

Brian

Brian, dont think you are wrong, I have my HIN on my Certificate of British Registry. It is clearly entered against the line IMO / HIN. Looking back its been on all my previous boat certificates.

[ari]

If that is the case then that's very reassuring. At least there's a chance of discovering whether a boat is Full Part One registered even if the plaque has been removed.

Anyone else want to check and see if their HIN (not official number) is on their Full Part One registration document?

[davidej]

And thousands of people drove home tonight without crashing. But I bet you still put your seatbelt on.

This might be worth a read.

http://www.independent.co.uk/news/bu...s-1407306.html

But my point is that whild you should take all the precautions you can. there is no 100% secure seatbelt.

So if you are not prepare to take any risk - don't buy secondhand (or new through a dealer).

The newspaper article was about a 1990 transaction - has anyone heard of a more recent case?

[ari]

Being prepared to take no risk and being prepared to take absolutely any risk are not the only options. People want to feel there is a reasonably robust system for ensuring that their very expensive purchase is free from finance that they could become responsible for, just like HPI when buying a car. Is that unreasonable?

The article is an old one, but mentions that there were many more cases even back then.

[Tranona]

But my point is that whild you should take all the precautions you can. there is no 100% secure seatbelt.

So if you are not prepare to take any risk - don't buy secondhand (or new through a dealer).

The newspaper article was about a 1990 transaction - has anyone heard of a more recent case?

Not only that, but if my memory serves correctly 22 years on, subsequent to that case a working party was set up to consider the implications - usual suspects, brokers, finance houses, RYA, BMF and came to the conclusion that there was no systematic evidence that this was a problem and there was no justification for a registration system.

Imagine the number of transactions that have taken place since then - and that case is still the one quoted as an example. Not suggesting there have been no cases of fraud, but indicative that it is not the major issue some think.