This Warranty of Title ("Agreement") is made effective as of [Date], by and between:

Seller's Name: [Seller's Full Legal Name or Company Name]
Seller's Address: [Street Address, City, State, Postal Code]
Seller's Contact Information:

  • Phone Number: [Phone Number]
  • Email Address: [Email Address]

Buyer’s Name: [Buyer's Full Legal Name or Company Name]
Buyer’s Address: [Street Address, City, State, Postal Code]
Buyer’s Contact Information:

  • Phone Number: [Phone Number]
  • Email Address: [Email Address]

VESSEL INFORMATION

Vessel Name: [Vessel Name]
Vessel Type: [Type of Vessel (e.g., Yacht, Cargo Ship, Fishing Vessel)]
Hull Number (or VIN if applicable): [Hull Number or Identification Number]
IMO Number (if applicable): [IMO Number]
Year of Manufacture: [Year]
Purchase Price of Vessel: [Purchase Price]
Effective Date of Transaction: [Transaction Date]

WARRANTY OF TITLE

  1. Title of the Vessel
    The Seller warrants that, at the time of transfer of ownership, they are the legal owner of the Vessel described above and have the full right, power, and authority to sell, transfer, and convey title to the Vessel to the Buyer. The Seller further warrants that the Vessel is free and clear of any liens, encumbrances, mortgages, claims, or any other legal restrictions that may affect the Buyer’s title or right to take possession of the Vessel.

  2. No Claims or Legal Actions
    The Seller warrants that, to the best of their knowledge, there are no pending or threatened claims, legal actions, or proceedings against the Vessel or the Seller related to the ownership, possession, or sale of the Vessel that could affect the Buyer’s rights to the Vessel.

  3. Indemnification of Buyer
    The Seller agrees to indemnify and hold harmless the Buyer from and against any loss, liability, or damage arising from a breach of the Warranty of Title, including any claims or legal actions brought by third parties challenging the Buyer’s ownership of the Vessel.

  4. Transfer of Title
    Upon full payment of the purchase price, the Seller agrees to transfer to the Buyer the full and complete title to the Vessel, accompanied by a signed bill of sale, and any other documents necessary to complete the transfer of ownership under applicable maritime laws.

  5. No Further Encumbrances
    The Seller warrants that after the date of transfer of the Vessel to the Buyer, the Vessel will be free from any claims, liens, or encumbrances that are not disclosed or previously agreed upon by the Buyer.

  6. Duration of Warranty
    This Warranty of Title shall remain in effect for a period of [specify duration, e.g., 6 months, 1 year] following the transfer of title to the Vessel. Should any third-party claims arise within this period, the Seller shall be obligated to address them as per the terms of this Agreement.

  7. Transfer of Documents
    At the time of transfer of the Vessel, the Seller shall provide the Buyer with the following documents to facilitate the transfer of title:

    • Bill of Sale
    • Certificate of Ownership or Registration (if applicable)
    • Insurance Records (if applicable)
    • Any other relevant documents that establish clear ownership.

  8. Dispute Resolution
    In the event of a dispute arising from this Warranty of Title, both parties agree to engage in good faith negotiations to resolve the issue. If negotiations fail, the parties may proceed to mediation or arbitration in accordance with the laws of [Jurisdiction].

GOVERNING LAW

This Agreement shall be governed by, and construed in accordance with, the laws of the [State/Country], without regard to its conflict of laws principles.

ENTIRE AGREEMENT

This Warranty of Title constitutes the entire agreement between the Seller and Buyer regarding the subject matter hereof. Any amendments, modifications, or additions to this Agreement must be made in writing and signed by both parties.

SIGNATURES

IN WITNESS WHEREOF, the parties hereto have executed this Warranty of Title as of the date first written above.

Seller's Signature:

  • Name: [Seller's Full Name]
  • Title: [Seller’s Title, if applicable]
  • Signature: ________________________
  • Date: [Date]

Buyer’s Signature:

  • Name: [Buyer's Full Name]
  • Title: [Buyer's Title, if applicable]
  • Signature: ________________________
  • Date: [Date]