How to apply

If you want to mortgage your vessel, you must first register the vessel in the Canadian Register of Vessels  to protect the lender's interest in the vessel.

1. Complete Form 7 - Mortgage (form 84-0019)
2. Upload your documents and pay for your application

If a mortgage is taken over by a different mortgagee, the mortgage must be transferred in the vessel registry.

1. To transfer a mortgage, provide the following:
   • The original endorsed mortgage deed, Form 7 – Mortgage (Form 84-0019), with the "Transfer of Mortgage" section completed and signed by the mortgagee
     • If the mortgage deed doesn't have a Transfer of Mortgage section, contact us
     • If the original endorsed mortgage deed has been lost or destroyed, have the mortgagee complete Form 11 - Declaration for Marine Mortgage (Form 84-0198) and sign it under oath
2. Upload your documents and pay for your application

When a mortgage has been paid in full, the mortgagee must discharge the mortgage to remove it from the registry. This service is covered by the mortgage registration fee.

1. To discharge a mortgage, provide the following:
   • The original endorsed mortgage deed, Form 7 – Mortgage (Form 84-0019), with the "Discharge of Mortgage" section completed and signed by the mortgagee
     • If the mortgage deed doesn't have a Discharge of Mortgage section, contact us
     • If the original endorsed mortgage deed has been lost or destroyed, have the mortgagee complete Form 11 - Declaration for Marine Mortgage (Form 84-0198) and sign it under oath
2. Upload your documents. There's no extra cost to discharge a mortgage. This part of the service was included when you paid to transfer the mortgage.   

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

To register a builder's mortgage:

1. Complete Form 16 - Builder's Mortgage (Form 84-0067)
2. Upload your documents and pay for your application (select "register a marine mortgage")

1. To transfer a builder's mortgage, you must submit the original endorsed mortgage deed, Form 16 - Builder's Mortgage (Form 84-0067), with the section "Transfer of Mortgage" completed and signed by the mortgagee
   • If the mortgage deed doesn't have a "Transfer of Mortgage" section, contact us
   • If the original endorsed mortgage deed has been lost or destroyed, have the mortgagee complete Form 11 - Declaration for Marine Mortgage (Form 84-0198) and sign it under oat
2. Upload your documents and pay for your application (select "transfer a marine mortgage")

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. This service is covered by the mortgage registration fee.

To discharge a builder's mortgage, provide the following:

1. The original endorsed builder's mortgage deed, Form 16 – Builder's Mortgage (Form 84-0067), with the section "Discharge of Mortgage" completed and signed by the mortgagee
   • If the mortgage deed doesn't have a "Discharge of Mortgage" section, contact us
   • If the original endorsed builder's mortgage deed has been lost or destroyed, have the mortgagee complete Form 11 - Declaration for Marine Mortgage (Form 84-0198) and sign it under oath
2. Upload your documents. There's no extra cost to discharge a mortgage. This part of the service was included when you paid to transfer the mortgage.   

If a mortgagee changes their name, report this change so we can update the registry.

This doesn't change the mortgagee. It will only change the mortgagee's name. If you want to change the mortgagee, see Transfer a mortgage.

1. If the mortgagee is:
   • a corporation: submit a copy of the certificate of name change issued by the Registrar of Companies
   • a person whose name changed through marriage: submit a copy of the Marriage Certificate along with a government-issued identification card like a driver's licence or health card
2. Send your request by email to vr-ib@tc.gc.ca. There's no fee for this service

1. Provide the following to report a change of address for a mortgagee:
   • name of vessel
   • official number
   • port of registry
   • name of mortgagee whose address has changed
   • new address
2. Send your request by email to vr-ib@tc.gc.ca. There's no fee for this service.

 When there's more than 1 mortgage, their order of priority can be changed in the vessel's registry.

1. Provide a Priority Agreement that includes the following:
   • vessel name
   • vessel official number
   • mortgage details, including the assigned mortgage letters (e.g. A, B, C, etc.) and names of mortgagees
   • new order of priority of the mortgages
   • signature of all mortgagees
   • date of signature
2. Upload your documents and pay for your application

When an individual mortgagee dies, their interest in the vessel needs to be transferred to their executor.

1. Provide the following to transfer on death of a mortgagee:

   • probate of a will or letters of administration, stamped or sealed copy from the Court

     If provincial laws waive the requirement for the will to be probated, include a letter from a lawyer stating they are satisfied that:

     • all applicable requirements of the provincial legislation have been met
     • the person named as executor is the proper person to settle the estate, and
     • the will doesn't need to be probated
   • death or burial certificate or presumption of death
   • a copy of Form 8—Declaration of Transmission (Form 84-0027), completed by each executor or administrator and signed under oath
2. Upload your documents and pay for your application

When a joint mortgagee dies, their interest in the vessel passes to the surviving registered joint mortgagee(s).

1. Prepare the following to transfer on death of a joint mortgagee:
   • death or burial certificate or presumption of death
   • a copy of Form 8—Declaration of Transmission (Form 84-0027), completed by each surviving joint mortgagee and signed under oath
2. Send your request by email to vr-ib@tc.gc.ca. There's no fee for this service.