Section 30
Transfer of mortgages.
The Merchant Shipping Act, 2025
About this Act
An Act to consolidate and amend the law relating to merchant shipping to ensure compliance with India's obligation under the maritime treaties and international instruments to which India is a party and also to ensure the development of Indian shipping and efficient maintenance of Indian mercantile marine in a manner best suited to serve the national interest and for matters connected therewith or incidental thereto.
(1) A registered mortgage of a vessel or share may be transferred to any person in such manner and the instrument effecting the transfer shall be in such form as may be prescribed.
(2) The person to whom any such mortgage has been transferred shall enjoy the same right of preference as was enjoyed by the transferor.
(2) The person to whom any such mortgage has been transferred shall enjoy the same right of preference as was enjoyed by the transferor.