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MERCHANT SHIPPING ACT 1894 - SECT 38

Transmission of interest in mortgage by death, bankruptcy, marriage, &c.

38.(1) Where the interest of a mortgagee in a ship or share is transmitted on
marriage, death, or bankruptcy, or by any lawful means, other than by a
transfer under this Act, the transmission shall be authenticated by a
declaration of the person to whom the interest is transmitted, containing a
statement of the manner in which and the person to whom the property has been
transmitted, and shall be accompanied by the like evidence as is by this Act
required in case of a corresponding transmission of the ownership of a ship or
share.

(2) The registrar on the receipt of the declaration, and the production of the
evidence aforesaid, shall enter the name of the person entitled under the
transmission in the register book as mortgagee of the ship or share.

Powers of mortgage and sale may be conferred by certificate.

© 1894 Crown Copyright

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