The Mediterranean Yacht Brokers Association Memorandum Of Agreement

At YACHTS INVEST we also offer a registration service and a buyer might want us to transfer ownership of a boat registered in their name. A buyer can engage the yacht broker separately in this matter, so he acts only for the buyer when transferring ownership. Surround yourself with people who know what they are doing and who have a good track record, including: surveyors, lawyers, superyacht managers, brokers and VAT/accountant advisors. Make sure your agreement, special conditions, and list of documents are all written. The most common form of agreement on the sale and purchase of used super yachts is the Mediterranean Yacht Brokers Association (MYBA) Sale and Purchase Form, known as the MYBA Memorandum of Agreement (MYBA MOA). Any additional terms or changes to the standard terms must be recorded (e.g.B. Transfer of charters currently reserved for the season or certain works of art to be withdrawn). It is important that oral agreements are recorded in writing. You must weigh carefully before signing a personal guarantee that will amortize the obligations of the selling or buying company. This can affect the ownership structure you have carefully set up and cause tax problems when selling. YACHTS INVEST makes these policies available to guide its clients and answer some of the most frequently raised questions when using a yacht broker in connection with the sale or purchase of a boat: Is superyacht VAT paid? Or is VAT charged? Has VAT been recovered? • Are there any mortgages, fees or other charges registered against the super yacht (since they must be relieved upon delivery)? This is a question that any prudent buyer should ask themselves, and if you are selling, you need to make sure that you can present the Transscript of Registry which shows that your Superyacht is not cluttered. The lawsuit can become more complicated if the mortgages are registered against the super yacht.

Now it is its second edition, The Law of Yachts and Yachting, a comprehensive treatise on the law with respect to yachts and offers its readers an in-depth analysis of the law of the sea that is relevant to the superyacht sector. Written by a team of leading yacht practitioners and researchers, it covers the legal issues that arise during the life of a yacht. The book was written for the lawyer, yacht broker and manager who deals with the operation of professionally crewed yachts, including financing, registration, chartering, insurance, compliance and accident management. Is it an entertainment and privately registered super yacht, or do I want to charter the super yacht? After the sale and before completion, the yacht broker must ensure that the vessel is properly erased from its previous register at the request of the vessel owner or an authorized agent on behalf of the owner. The request must be in writing and contain the official number of the vessel and the reason for the cancellation (sale). The initial deletion certificate (COD) must be returned by the owner mentioned on the certificate. . . .