§ 75A-37. Certificate of title as evidence; duration; transfer of title. - North Carolina Statutes

§ 75A‑37.  Certificateof title as evidence; duration; transfer of title.

(a)        A certificate oftitle is prima facie evidence of the ownership of a vessel. A certificate oftitle shall remain in force for the life of the vessel.

(b)        Upon the sale,assignment, or transfer of a vessel for which a certificate of title has beenissued under this Article, the legal holder of the certificate of title shalldeliver it to the purchaser or transferee. The assignment on the certificatemust be completed showing transfer of ownership to the purchaser or transfereeand settlement of all outstanding liens and encumbrances. The new owner shallsubmit the assigned certificate of title to the Commission, accompanied byevidence satisfactory to the Commission that all outstanding liens have beenreleased, with the application for transfer of title. The application shallcontain all the information required by the Commission for the transfer inorder to identify the vessel and the new owner. The application shall show anyand all new liens and encumbrances on the vessel, in order of priority,incurred by the owner. The nature of the new liens and encumbrances shall alsobe given, along with the name and address of all secured parties. (1989, c. 739, s. 1; 2006‑185,s. 2.)