Seller’s Delivery Documents at Closing

When completing a yacht sale under the MYBA Memorandum of Agreement (MOA), the seller must provide specific legal and technical documents to confirm clear ownership, prove the yacht is free of debt, and enable re-registration under the buyer’s chosen flag. These documents are typically prepared in coordination with the broker and maritime lawyer to ensure accuracy and compliance.

1. BILLS OF SALE

The Bill of Sale is the primary legal instrument transferring title from seller to buyer. Three original copies are required:

• One for the buyer
• One for the seller’s records
• One for the new flag state or registry

Each copy must be signed by the seller, notarized, and apostilled if required by jurisdiction.

2. YACHT DOCUMENTS

Depending on the vessel’s size and registry, this may include:

• Builder’s Certificate confirming original construction and ownership
• For yachts under 24m: CE Certificate, Declaration of Conformity, engine power declaration, etc.
• For yachts over 24m: certificates required by the flag state or class society (e.g., Certificate of Class, Load Line, Tonnage Certificate, MARPOL, MLC).

3. TRANSCRIPT OF REGISTER

A current extract from the flag state confirming:

• The vessel’s legal ownership by the seller
• That it is free of all registered charges, liens, or encumbrances

4. DELETION CERTIFICATE OR UNDERTAKING TO DELETE

At completion, the seller must either:

• Provide a Deletion Certificate from the current flag, or
• A Letter of Undertaking committing to immediate deletion after closing

5. DOCUMENTATION PROVING FREE CIRCULATION IN EU WATERS

To demonstrate VAT or customs compliance:

• If VAT is paid: original VAT invoice or importation documentation
• If VAT not paid: proof of temporary admission and exit from EU waters within 18 months

6. CREW AND MARINA CLEARANCE STATEMENTS

• Crew statements confirming all wages, contracts, and benefits have been settled
• Marina statement verifying no outstanding mooring, port, or utility fees

7. MYBA PERSONAL GUARANTEE AND INDEMNITY

If the yacht is owned by a corporate entity, a personal guarantee from the beneficial owner is required. This guarantees indemnity to the buyer in case of post-sale liabilities or undisclosed claims.

8. CORPORATE SELLER DOCUMENTATION (IF APPLICABLE)

When the yacht is owned through a company, these are required:

• Certificate of Incorporation
• Company extract or registry of directors
• Board Resolution authorizing the sale
• Power of Attorney (if signed on behalf of the company)
  

9. SELLER’S PAYMENT INSTRUCTIONS

A signed statement specifying the seller’s designated bank account for receiving the final payment.

10. CERTIFIED COPY OF SELLER’S PASSPORT

A certified copy of the seller’s personal ID or the authorized signatory’s passport if the sale is through a company.

11. TECHICAL FILES AND MANUALS

Delivered onboard or in an organized file, including:

• Engine, maintenance, and deck logbooks
• Layout plans and blueprints
• Equipment manuals and warranties

12. PREVIOUS BILLS OF SALE

A complete ownership chain showing uninterrupted transfer of title from the original builder to the current seller.

13. PROTOCOL OF DELIVERY AND ACCEPTANCE (PDA)

The final physical handover document confirming that the yacht has been delivered and accepted according to MYBA terms.

14. POWER OF ATTORNEY (IF SELLER IS ABSENT AT DELIVERY)

If the seller cannot attend the delivery in person, a Power of Attorney authorizes a representative to:

• Sign the PDA
• Deliver all documents and keys on the seller’s behalf

Final Thoughts

The closing process under the MYBA MOA is built on legal precision and full transparency. By preparing these documents in advance, sellers ensure a smooth transfer of ownership, avoid legal delays, and protect all parties involved, making the transition from one owner to the next seamless and compliant.