The transferee of a security interest in the interest of a legal owner of a numbered vessel need not make application for a transfer of ownership when the security interest arises from a pledge of security agreement by the legal owner to the pledgee.

(Added by Stats. 1970, Ch. 1428.)

Terms Used In California Vehicle Code 9914

  • Legal owner: is a person holding the legal title to a vessel under a conditional sale contract, the mortgagee of a vessel, or the renter or lessor of a vessel to the state, or to any county, city, district or political subdivision of the state, under a lease, lease-sale, or rental-purchase agreement which grants possession of the vessel to the lessee for a period of 30 consecutive days or more. See California Vehicle Code 9840
  • Owner: is a person having all the incidents of ownership, including the legal title, of a vessel whether or not such person lends, rents, or pledges such vessel. See California Vehicle Code 9840
  • transferee: is a person who has acquired the sole ownership of or an equity in a vehicle of a type required to be registered under this code. See California Vehicle Code 640
  • Vessel: includes every description of watercraft used or capable of being used as a means of transportation on water, except the following:

    California Vehicle Code 9840

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