A direction at right angles to the side of the boat.
Towards the rear of the Vessel.
A formal, written document in which the purchaser agrees to buy certain Yacht and the seller agrees to sell under stated conditions and terms. BEWARE – Title will generally not pass on to you until you have paid off the whole agreement amount. Consult a Lawyer if you are offered such a transaction. There are some situations, where this can be a good deal for you.
In the direction towards the front of the boat.
A device or object, external to the boat, located to assist safe navigation: it may be man made or natural.
A navigation light on a pleasure craft showing an unbroken light over an arc of the horizon of 360 degrees.
All aspects of a Yacht that enhances its value. Electronics and gear, sleeping accommodations , machinery extra equipment etc.
An increase in the value of a Yacht due to changes in market conditions or other causes.
The valuation placed upon a yacht by a Independent Marine Surveyor in order to ascertain the general condition and the current market value of the named yacht.
An independent evaluation of the vessel. The Lender will usually require that you hire an independent appraiser or surveyor to estimate the current market value of the vessel. The appraiser has no vested interest in the purchase/sale and as such can estimate the “fair market value”.
A list of things of liquid value owned by the applicant/borrower. These can include cash, term deposits, GIC’s, RRSP’s, real estate properties, automobiles, stocks, bonds, mutual funds, jewelry and other household goods.
In the direction of the back of the boat; also, the movement of the boat going backwards.
Added weight in the boat’s bottom to provide stability.
The deepest part of the inside of a boat; area where water and fumes may collect.
An electric or manual pumping device to rid the bilge of any unwanted water. Having both is recommended.
Cover or roof to protect crew from sun and adverse weather on the command bridge or sun bridge of the Vessel.
Ventilation system to rid the fumes from enclosed engine and fuel tank compartments of the Vessel. Blower should be operated for at least four minutes before every start up.
A heavy post set into the edge of the wharf or pier to which the lines of a boat may be tied.
Front part of the Vessel.
A docking line leading forward from a boat’s bow.
Control station area of the Vessel.
Control station area of the Vessel.
Floating aid to navigation.
Wearing through of a line, sail, etc. from rubbing.
An open metal fitting through which a line is led to a cleat.
A “T” shaped fitting to which lines are hitched.
Steering and control area on the exterior of the Vessel.
The ownership of property by two of more persons, where on the death of one, his share is credited to his own estate.
Instrument for finding directions.
The date where the transaction is legally concluded in the Registry Office. The Purchaser pays his money on this date and the Vendor receives it.
Upstairs or outside control station of the Vessel.
Indicates the frequency with which interest is computed and added to the principal to arrive at a new actual balance. The essential point to remember if you are a borrower is the the less frequent the compounding, the better deal for you. If you are a Lender (or saver at the bank) the more often the frequency of compounding, the more you will get in return. In Canada, Lenders, generally compound mortgages semi-annually.
Solemn or written agreement.
Horizontal movement of water.
A patented lightweight anchor characterized by long, narrow, twin flukes pivoted at one end of the relatively long shank.
A log or heavy timber floating nearly vertical, with little of it’s bulk showing above the surface.
Any permanent covering over a compartment.
A loan in which a payment is overdue but not yet in default.
Cash paid to the seller when a formal sales contract is signed.
A decline in the value of a vessel; the opposite of “appreciation”.
A boat meant to move through the water, not skim over it.
The procedure for coming alongside a wharf or jetty.
Protective cover over the cockpit area of the Vessel.
The part of the purchase price which the buyer pays in cash and does not finance with a loan.
Minimum depth of water needed to float a boat.
A fungus decay which causes wood to become soft and to fall apart.
The difference between the market value of a vessel and the owner’s outstanding loan balance. If your vessel is worth $100,000 and you owe $65,000, you are said to have 35% equity in your vessel.
The price or value at which vessel is transferred between a willing and informed buyer and a willing and informed seller, each of whom has a reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell.
A unit of measure equal to six feet.
A device placed between boats, or a boat and a pier, to prevent damage to the boat.
Hull of ferrocement construction is a hull formed by an element of mild steel pipes and round bars, some of which are of high tensile steel for the longitudinal stiffeners and then lined with a close knit steel mesh where, for a minimum shell thickness of 1-1/2″. Some eight layers of mesh are wired to the element, four internal and four external. The formed element is then made impermeable by impregnating and plastering with a plastic cement mix after which a moist curing period of twenty eight days will give the concrete and steel hull a strong flexible structure with a comprehensive strength of 4500 lbs. per square inch.
A safety device fitted to a carburetor, which prevents an explosion from an exhaust backfire.
The minimum vertical distance measured on a boat’s side from the waterline to the upper edge of the boat.
A self winding system for the head sail of a sailboat, which allows one to deploy or store the sail from the cockpit area.
Fresh Water Cooled. Engines DO NOT draw water from the ocean to be cooled.
The kitchen facilities and area of a boat.
Front sail, usually larger than a jib.
The boat which must yield in meeting, crossing, or overtaking situations.
Glass Re-Enforced Plastic (fiberglass)
The upper edge of a boat’s sides.
An opening in a boats deck fitted with a watertight cover.
The wheel or tiller controlling a rudder or outboard motor; the place from which you steer a small boat.
Inboard/Out drive; stern drive.
An engine mounted inside the hull, connected to the propeller by a propeller shaft.
Consideration in the form of money, paid for the use of money. Usually expressed as a percentage, compounded semi-annually. Can also mean a right, share or title in property.
A drive depending on the forced discharge of water.
Front sail used for sailing into the wind.
Ownership of vessel by two or more people. when one dies, his share automatically passes to the survivors.
The permanently positioned, fore-and-aft backbone member of a boat’s hull; underwater member to prevent sideways motion of a boat.
The tucks and loops in a line; Also, a unit of speed equal to one one nautical mile (1852 meters) an hour.
The side opposite to that from which the wind blows.
Shoreline downwind of a boat (to be avoided).
Downwind; away from the wind.
A legal claim against a property that must be paid when the property is sold.
Drainage Holes through bulkheads or frames.
The tilt of a boat to one side or the other.
An agreement between the Owner of a vessel and a Broker; whereby the broker lists the vessel for sale and uses due diligence to find a buyer for the vessel.
The international radiotelephone distress signal for life threatening situations.
A white light on the pleasure craft’s centerline, showing an arc of visibility from dead ahead to 22.5 degrees abaft the beam on either side.
Where the owner of the vessel pays the Dock to park and store their boat. Usually, docks charge by the foot. Extra charges may apply if you require covered moorage.
A buoy firmly anchored to the bottom, to which a boat is secured.
1852 meters; 1.15 statute miles.
Material aboard your boat that will assist in navigating (compass, depth sounder, G.P.S., etc).
A device used for rowing a boat.
Person in effective charge and control of a boat and who is responsible for the boat.
A detachable drive unit mounted on a boat’s stern.
A purchase in which the seller provides all or part of the financing.
Personal Flotation Device. Please Note: as of April 1st 1999 lifesaving cushions are no longer approved PFD’s.
Boat whose hull is designed to skim on the water.
Left hand side of the Vessel when looking forward; Harbour.
A boat propelled by mechanical means.
In British Columbia, we have a Provincial Sales Tax which applies to most vessels. There are exemptions for some buyers. Generally, the tax is 7% of the purchase amount.(depending on where you are buying from). call the Ministry of Finance and Corporate Relations in Victoria, BC at (250) 387-0604.
The process of paying off one loan with the proceeds from a new loan secured by the same property. This is most often done to get the better interest rates offered by the new loan.
Proper lights to display when a boat is under way at night or in restricted visibility.
Raw Water Cooled. Water is drawn from the body of water the vessel is on (ocean) for cooling the engine.
A green light on the starboard side, and a red light on the port side, showing an arc of visibility from dead ahead to 22.5 degrees abaft the beam.
Large front sail, also called a chute. Used for sailing down wind.
Fore and Aft lines used in mooring to prevent a boat from moving forward or astern while fast to a pier.
Right hand side of the Vessel when looking forward.
A drive system consisting of an inboard engine, a vertical driveshaft outboard and a propeller.
A white light at or near the boat’s stern, showing an arc of visibility from dead astern to 67.5 degrees on either side.
To store items neatly and securely.
To fill a boat with water.
An inspection done by a Marine Surveyor on a vessel to determine the general condition and the current market value of the vessel.
The amount of time that the contract is written for and that the interest rate is guaranteed for.
A device to control a boats speed.
A legal document establishing the right of ownership.
Horizontal flow of water due to the gravity of the Moon and the Sun. Usually present in channels or on points of land.
Vertical movement of water due to gravity of the Moon and the Sun.
Handle used to steer some boats.
State or local tax payable when title passes from one owner to another.
The outside part of a boat’s stern.
The fore-and-aft and side-to-side balance of a boat.
Boat in motion (when not moored, anchored or aground).
A general term for all craft capable of floating on water, and larger than a rowboat.
The Very high frequency radio used on a boat.
The disturbed column of water around and behind a moving boat which is set into motion by the passage of the boat.
Movement of a boat through the water, such as headway, sternway, etc.
Raising the anchor when preparing to get under way.
Area at the rear part of the Vessel where the motor may be located.
A power winch on the bow of the vessel to pull the anchor up, usually electric.
Toward the direction from which the wind is coming.
A firm or more frequently and Individual who brings the buyer and the seller together. Does the vessel shopping for the Buyer.