Organization : Maritime and Port Authority of Singapore
Facility : Mortgage Registration
Country : Singapore
Website : https://www.mpa.gov.sg/web/portal/home
Details Here : https://www.mpa.gov.sg/
MPA Mortgage Registration
** A mortgage on a vessel may be recorded in the register as soon as the vessel is registered, upon presentation of the instrument of mortgage (in the prescribed form available from the Singapore Registry of Ships).
Related : Maritime & Port Authority Bill of Sale Registration Singapore : www.statusin.org/40323.html
** In the case of a provisionally registered vessel where the original document of title to ownership has not been submitted, the mortgage will only be recorded upon confirmation by the mortgagee that the document has been sighted by him. The confirmation is to be made in the form of a letter from the mortgagee to the Registry.
Required Documents :
** Original mortgage instrument*
** Original Power of Attorney (POA) if the instrument is signed pursuant to an attorney-in-fact*
** If the owner appoints a solicitor to carry out the mortgage registration on his behalf, a letter from the owner or the solicitor stating his/her (solicitor) appointment is to be provided to the Registry.
** The mortgagee’s contact details such as the name of the officer and the contact number is to be provided.
** Any other documents that the Registry deemed required for submission
Transfer of Existing Mortgage in the Register
For existing mortgage registered in the register and where the existing mortgagee(s) had transferred or sell the assets and liabilities of the mortgage to another mortgagee(s), that mortgage will have to be recorded as a transfer in the register. The owner must make the application to effect the transfer with the Registry.
Required Documents :
** Original mortgage instrument*
** Original Power of Attorney (POA) if the instrument is signed pursuant to an attorney-in-fact*
** If the owner appoints a solicitor to carry out the mortgage registration on his behalf, a letter from the owners or the solicitor stating his/her (solicitor) appointment is to be provided to the Registry.
** The mortgagee’s contact details such as the name of the officer and the contact number is to be provided.
** Any other documents that the Registry deemed required for submission.
Transmission of Existing Mortgage in the Register
For existing mortgage registered in the register and where the existing mortgagee(s) transfer or sell their assets & liabilities of the mortgage to another mortgagee(s) under a court order or upon liquidation, that mortgage will have to be recorded as a transmission in the register. The owner must make the application to effect the transmission with the Registry.
Required Documents :
** Original mortgage instrument*
** Original Power of Attorney (POA) if the instrument is signed pursuant to an attorney-in-fact*
** If the owner appoints a solicitor to carry out the mortgage registration on his behalf, a letter from the owners or the solicitor stating his/her (solicitor) appointment is to be provided to the Registry.
** The new mortgagee’s contact details such as the name of the officer and the contact number is to be provided.
** The original or certified true copy of the order of court (if applicable)
** Statutory declaration from the new mortgagee (if applicable)
** Any other documents that the Registry deemed required for submission
*Documents that are executed outside Singapore must be notarised and Singapore legalised.
Fees
** A fee is levied for the recording of a mortgage, transfer or transmission of mortgage. It is charged according to the gross tonnage of the vessel or shares at S$48 plus S$1 per 100 gross tons or part thereof.
The prevailing good & services tax (GST) will be taxed on this amount (currently, the GST is 7%).
** No fee is charged for a discharge of mortgage.
Registration Hours
** Office hours are from 8.30 am to 6:00 pm, Monday to Friday.
** Where a service to register or discharge a mortgage is required after office hours, prior arrangement must be made with the staff of the Registry of Ships