3. Maritime Lien and Mortgages

Maritime liens and mortgages are legal claims related to ships. A maritime lien is a special right that allows a creditor to keep a ship until a debt is paid, such as unpaid crew wages or damage claims. A ship mortgage is a loan secured by the ship, meaning if the owner defaults, the lender can take possession of the vessel. Both concepts are essential in ship registration and nationality, as they determine financial rights over a ship, enhancing security for lenders and creditors while establishing ownership and legal responsibilities internationally.