Preferred Ship Mortgage Actions
Under the Ship Mortgage Act of 1920, ship mortgage lenders have first right of foreclosure when a ship owner does not meet the terms and conditions of the mortgage. The law gives the primary mortgage lender primary status when competing against other creditors seeking liens against the property as a collection action for payments owed.
We represent lending institutions and individuals in the foreclosure of preferred ship mortgages. Our services include filing in all three Florida federal districts to effectuate the vessel arrest and litigation up to and including vessel foreclosure, U.S. Marshal’s auctions and collection on deficiency judgments.
Our attorneys help service providers, boatyards and marinas enforce maritime liens for necessaries, services and products rendered, and enforcement of dockage and storage fees. We also represent individual vessel owners, service providers, boatyards and marinas in the defense of vessel arrests for prioritized maritime liens. Additionally, we represent lenders when their debtors go into bankruptcy.
Our lawyers work with national and international clients with ship mortgage actions in South Florida and the Gulf Coast. Call our offices in Fort Lauderdale at 954-556-1470 to arrange a personal consultation.