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46 U.S.C. § 31328 — Repealed. Pub. L. 104–324, title XI, § 1113(b)(1), Oct. 19, 1996, 110 Stat. 3970]
Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102 Stat. 4746, related to limitations on parties serving as trustees of mortgaged vessel interests.
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Source location: Title 46, Chapter 313, § 31328; chapter-313-commercial-instruments-and-maritime-liens.md
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### Statutory Notes
Section, Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102 Stat. 4746, related to limitations on parties serving as trustees of mortgaged vessel interests.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** If no such claim is filed or bond given within the twenty days hereinbefore specified, the appropriate customs officer shall declare the vessel, vehicle, aircraft, merchandise, or baggage forfeited, and shall sell the same at public auction in the same manner as merchandise abandoned to the United States is sold or otherwise dispose of the same according to law, and shall deposit the proceeds of sale, after deducting the expenses described in [section 1613 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section1613&num=0&edition=prelim), into the Customs Forfeiture Fund.
**(b) Effect** A declaration of forfeiture under this section shall have the same force and effect as a final decree and order of forfeiture in a judicial forfeiture proceeding in a district court of the United States. Title shall be deemed to vest in the United States free and clear of any liens or encumbrances (except for first preferred ship mortgages pursuant to subsection O of section 30 of the Ship Mortgage Act, 1920 (46 U.S.C. App. 961) or any corresponding revision, consolidation, and enactment of such subsection in title 46) from the date of the act for which the forfeiture was incurred. Officials of the various States, insular possessions, territories, and commonwealths of the United States shall, upon application of the appropriate customs officer accompanied by a certified copy of the declaration of forfeiture, remove any recorded liens or encumbrances which apply to such property and issue or reissue the necessary certificates of title, registration certificates, or similar documents to the United States or to any transferee of the United States.
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Federal law — U.S. Code and appendices · legal_authorities
Page 286
TITLE 46—SHIPPING
[§ 31328
[§ 31328. Repealed. Pub. L. 104–324, title XI,
§ 1113(b)(1), Oct. 19, 1996, 110 Stat. 3970]
Section, Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988,
102 Stat. 4746, related to limitations on parties serving
as trustees of mortgaged vessel interests.
§ 31329. Court sales of documented vessels
(a) A documented vessel may be sold by order
of a district court only to—
(1) a person eligible to own a documented
vessel under section 12103 of this title; or
(2) a mortgagee of that vessel.
(b) When a vessel is sold to a mortgagee not el-
igible to own a documented vessel—
(1) the vessel must be held by the mortgagee
for resale;
(2) the vessel held by the mortgagee is sub-
ject to chapter 563 of this title; and
(3) the sale of the vessel to the mortgagee is
not a sale to a person not a citizen of the
United States under section 12132 of this title.
(c) Unless waived by the Secretary of Trans-
portation, a person purchasing a vessel by court
order under subsection (a)(1) of this section or
from a mortgagee under subsection (a)(2) of this
section must document the vessel under chapter
121 of this title.
(d) The vessel may be operated by the mort-
gagee not eligible to own a documented vessel
only with the approval of the Secretary of
Transportation.
(e) A sale of a vessel contrary to this section
is void.
(f) This section does not apply to a docu-
mented vessel that has been operated only for
pleasure.
(Pub. L. 100–710, title I, § 102(c), Nov. 23, 1988, 102
Stat. 4747; Pub. L. 104–324, title XI, § 1118, Oct. 19,
1996, 110 Stat. 3973; Pub. L. 109–304, § 15(32), Oct.
6, 2006, 120 Stat. 1704; Pub. L. 111–281, title IX,
§ 913(c), Oct. 15, 2010, 124 Stat. 3017.)
HISTORICAL AND REVISION NOTES
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