§ 31321. Filing, recording, and discharge
(a)
(1)
A bill of sale, conveyance, mortgage, assignment, or related instrument, whenever made, that includes any part of a documented vessel or a vessel for which an application for documentation is filed, must be filed with the Secretary of Transportation to be valid, to the extent the vessel is involved, against any person except—
(2)
Each bill of sale, conveyance, mortgage, assignment, or related instrument that is filed in substantial compliance with this section is valid against any person from the time it is filed with the Secretary.
(b)
To be filed, a bill of sale, conveyance, mortgage, assignment, or related instrument must—
(c)
If a bill of sale, conveyance, mortgage, assignment, or related document is filed that involves a vessel for which an application for documentation is filed, and the Secretary decides that the vessel cannot be documented by an applicant—
(d)
A person may withdraw an application for documentation of a vessel for which a mortgage has been filed under this section only if the mortgagee consents.
(e)
The Secretary shall—
(f)
On full and final discharge of the indebtedness under a mortgage recorded under subsection (e)(1) of this section, a mortgagee, on request of the Secretary or mortgagor, shall provide the Secretary with an acknowledged certificate of discharge of the indebtedness in a form prescribed by the Secretary. The Secretary shall record the certificate.
(g)
The mortgage or related instrument of a vessel covered by a preferred mortgage under section
31322
(d) of this title, that is later filed under this section at the time an application for documentation is filed, is valid under this section from the time the mortgage or instrument representing financing became a preferred mortgage under section
31322
(d).
(h)
On full and final discharge of the indebtedness under a mortgage deemed to be a preferred mortgage under section
31322
(d) of this title, a mortgagee, on request of the Secretary, a State, or mortgagor, shall provide the Secretary or the State, as appropriate, with an acknowledged certificate of discharge of the indebtedness in a form prescribed by the Secretary or the State, as applicable. If filed with the Secretary, the Secretary shall enter that information in the vessel identification system under chapter
125 of this title.