II. Recording of Bills of Sale
The present law on the subject of recording bills of sale is included in the general mortgage provisions of the new Merchant Marine Act, under which it is provided that no sale of a vessel shall be valid against a ship unless the bill of sale is recorded by the Collector of Customs in an official register, which is required to show
(1) The name of the vessel;
(2) The names of the parties to the sale;
(3) The time and date of receiving the bill of sale; and
(4) The interest in the vessel so sold.
It is also provided that no bill of sale can be recorded unless the interest of the grantor in the vessel is stated, also the interest sold, nor unless the bill has been acknowledged before a notary public or other officer authorized to take acknowledgements. In the case of a change in the port of documentation, no bill of sale may be recorded at the new port unless a certified copy of the record of the vessel at the former port is furnished by the collector of that port.