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ARTICLE · 16 SEPTEMBER 2024

Purchasing A Private Vessel: What You Should Know

Gardiner Roberts LLP
Gardiner Roberts LLP
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The purchase of a private vessel can be a major commitment that requires careful consideration.

CanadaTransport
Rui Fernandes
Rui Fernandes
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The purchase of a private vessel can be a major commitment that requires careful consideration. Before entering into any purchase transaction, many aspects of vessel ownership and operation must be considered. The reference to a "private vessel" is a vessel that is under 15 tons and is used for pleasure purposes. Commercial vessels and vessels used for public purposes are subject to some of the same considerations but also many different factors and issues.

Gardiner Roberts LLP offers the following checklist, which presents the issues relevant to purchasing a private vessel. The checklist refers to considerations including pre-purchase inspections, sea trials, liens, maintenance, deck logs and engine logs, and insurance.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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