Transactions involving vessel purchases and charters - whether boats, yachts, or ships - are unique. These transactions raise many issues regarding title, taxes, documentation, ownership, and insurance that require expertise in maritime law.
As a full-service law firm with a specialty in maritime law, Pierce Atwood is well-suited to assist with all aspects of acquiring a vessel, from pre-purchase due diligence and contract negotiation through documentation. We assist clients with:
- Lien searches and due diligence regarding title
- Ownership structure advice
- Drafting and advising on purchase and sale agreements
- Assisting with obtaining and negotiating financing
- Analysis of possible tax liability in connection with acquisition
- Tax planning in connection with ownership and use
- Advice regarding appropriate insurance terms and coverage
- Documentation, flagging, and/or registration, whether foreign or domestic
Our Vessel Purchase and Charter Team serves clients throughout the world. The team includes maritime lawyer Mike Daly and tax lawyer Jon Block, and we typically offer a reasonable flat rate for this service. We partner with our clients to ensure that transactions are handled thoroughly, efficiently, and economically.
Whether you are purchasing a yacht that calls in Newport and sails worldwide, or a barge to operate locally or internationally, Pierce Atwood has the capability to ensure that the transaction is smooth sailing.