(1)
How is the security interest in a
vessel perfected?
A security interest in a vessel is perfected when the
requirements similar to RCW 46.12.095 for vehicles is followed. Security
interest in a vessel (other than one held as inventory by a manufacturer or a
dealer and for which a certificate of ownership is required) is perfected only
by completing the requirements of RCW 46.12.103 for vessels under the
circumstances provided for in this section:
(a) The existing certificate and application
for certificate of ownership containing the name and address of the secured
party is received by the department with required fees; or
(b) The secured interest is perfected as of
the time of its creation if the secured party's name and address appear on the
outstanding certificate of ownership when received in (a) of this subsection
with appropriate fees; or
(c) The
vessel is subject to a security interest when brought into this state. The
perfection of the security interest is determined by the jurisdiction in which
the vessel was either purchased, registered and/or titled and the security
interest is attached.
If perfected through the laws of another jurisdiction, the
following applies:
(i) If the name of
the secured party is shown on the existing certificate of ownership issued by
that jurisdiction, the security interest continues perfected in this
state.
(ii) If the security
interest was not perfected under the law of the jurisdiction where the vessel
was when the security interest was attached, it may be perfected in this state,
in that case perfection dates from the time of perfection in this state.
The application must be in the same manner as provided for
vehicles and WAC
308-93-069 and
308-93-070 as provided for
vessels.
(2)
When would the department of
licensing not issue a certificate of ownership?
(a) Vessels that are documented in compliance
with federal regulations are issued a registration and are not issued a
certificate of ownership; or
(b)
When ownership in doubt; or
(c) The
out-of-state lien holder retains title.
(3)
What fees are charged for adding,
deleting or changing a secured party?
An application fee and filing fee are due for each transaction.
An additional service fee is charged if a licensing subagent processes the
transaction as referenced in RCW 88.02.070.
(4)
What is the secured party's
obligation when the lien has been satisfied?
When a certificate of ownership is required, the secured party
must comply with RCW 46.12.170 as provided for vehicles, and WAC
308-93-069 and
308-93-070 as provided for
vessels and pay the required fees.
Requirements for application for certificate of
ownership:
(a) New vessels:
(i) Application for certificate of ownership
to a vessel never before licensed or titled shall be accompanied by a
manufacturer's statement of origin, carpenter's certificate, or a copy of the
factory invoice.
(ii) The
manufacturer's statement of origin, carpenter's certificate, or factory invoice
must reflect the model year, make, length and hull identification number of the
vessel.
(iii) The department will
not accept any manufacturer's statement of origin, carpenter's certificate, or
factory invoice for the issuance of a certificate of ownership unless all
persons named on the manufacturer's statement of origin, including dealers,
have released or assigned their interest, or on a release of interest form
approved by the department.
(iv)
Dealer-to-dealer transfers may be accomplished either by appropriate
endorsement of the manufacturer's statement of origin, carpenter's certificate,
or factory invoice, or release of interest form approved by the department. A
complete chain of ownership must be reflected from the original dealer named on
the manufacturer's statement of origin to the retail selling dealer making the
application.
(v) A copy of the
factory invoice may be used in lieu of the manufacturer's statement of origin
or carpenter's certificate only when such documents are not available and
obtaining a replacement from the manufacturer would cause an undue amount of
delay in titling the vessel. A certificate of fact describing why the statement
of origin or carpenter's certificate is not available must be accompanied by
the photocopy of the factory invoice and any necessary releases of interest on
a form approved by the department.
(b) Vessels with existing certificate of
ownership from a foreign titling jurisdiction:
(i) Excise exemption affidavit;
(ii) A copy of the bill of sale or sales
agreement;
(iii) Declaration of
value form;
(iv) Previous ownership
document properly released;
(v)
Proof of sales tax paid;
(vi)
Release of interest;
(vii) Other
verification of ownership approved by the department, such as:
(A) A judgment from a district or superior
court of any county of this state awarding ownership; or
(B) Document from an involuntary divestiture
sale or auction; and/or
(C) Copy of
certificate of documentation of vessel issued by the United States Coast
Guard.
(c)
Vessels without existing certificate of ownership or from a nontitling
jurisdiction:
(i) Excise exemption
affidavit;
(ii) A copy of the bill
of sale or sales agreement;
(iii)
Declaration of value form;
(iv)
Previous ownership document properly released;
(v) The registration, if it is from a
nontitle state;
(vi) Proof of sales
tax paid;
(vii) Manufacturer's
statement of origin, factory invoice, or carpenter's certificate;
(viii) An affidavit in lieu of
title;
(ix) Release of
interest;
(x) Other verification of
ownership approved by the department to include:
(A) A judgment from a district or superior
court of any county of this state awarding ownership; or
(B) Document from an involuntary divestiture
sale or auction; and/or
(C) Copy of
certificate of documentation of vessel issued by the United States Coast Guard;
and/or
(D) An affidavit certifying
when and where the vessel was acquired or brought into the state.
(5)
What is the secured party's obligation when the lien has been satisfied
due to the sale of the vessel?
The secured party must comply with RCW 46.12.101 as provided
for vehicles and WAC
308-93-069 and
308-93-070 as provided for
vessels.
Vessel owners applying for certificate of ownership and/or
registration of a vessel must submit an application, which includes, but is not
limited to:
(a) Expiration date of the
certificate of registration;
(b)
The name of each owner of the vessel and if the vessel is subject to security
interest, the name of each secured party;
(c) The department-assigned customer account
number for each owner of the vessel including secured parties if
available;
(d) The address at which
one of the owners regularly receives mail;
(e) The mailing address of the first secured
party;
(f) The Washington
registration number as assigned;
(g) Make and model year;
(h) Length of vessel;
(i) Type of power (gasoline, diesel,
etc.);
(j) Primary use (commercial,
pleasure, etc.);
(k) Primary method
of propulsion (inboard, sail, etc.);
(l) Type of vessel (runabout, cabin,
etc.);
(m) Primary vessel
construction (fiberglass, wood, etc.);
(n) County of moorage;
(o) Hull identification number, if one has
been assigned;
(p) Latest purchase
price and purchase year or, if the vessel was not acquired by purchase, a
declaration of value and year of declaration.
For the purposes of this section, purchase price or declared
value includes the vessel, vessel motor, or engine, and all other equipment and
accessories, excluding a boat trailer, purchased or acquired in a single
transaction;
(q) United
States Coast Guard document number, if applicable.
In addition to the information listed above, upon original
application for certificate of ownership and/or registration of a homemade
vessel, the owner shall complete and sign a declaration of value form. The
owner's signature must be notarized/certified in accordance with WAC
308-93-470.
(6)
Is the secured party
liable for the acts of the vessel owner?
No. The secured party is not liable or responsible for any act
or contract made by the vessel owner or by any person representing the vessel
owner.
