Managing marine mortgages: Builder’s mortgage

As of April 1, 2024, Vessel Registration fees are changing. Find out more in the Canada Gazette, Part II, Regulations Amending the Marine Safety Fees Regulations (Vessel Registry Fees)

Register a builder’s mortgage

Fee: $150

Only vessels recorded as under construction in the Canadian Register of Vessels can have a registered builder’s mortgage. So before you add a builder’s mortgage, you’ll need to record the vessel under construction.

To register a builder’s mortgage:

  1. Provide the following: Form 16 - Builder’s Mortgage [PDF, 677 KB]
  2. Submit and pay

Transfer a builder’s mortgage

Fee: $150

  1. Provide the following to transfer a builder’s mortgage:
  2. Submit and pay

Discharge a builder’s mortgage

No fee

When a builder’s mortgage has been paid off, the mortgagee must submit a request to discharge the mortgage to remove it from the registry.

  1. Provide the following to discharge the builder’s mortgage:
  2. Send the document to the Vessel Registration Office

How long it may take to process your request

View the Vessel Registry service standards